Debt

Accountability

News

World Bank launches new Africa strategy

In March, the World Bank launched its new Africa strategy, outlining three main areas in which it will focus its operations: competitiveness and employment, vulnerability and resilience of citizens, and governance and public sector capacity.

5 April 2011

Finance

News

Uganda: aid withheld after IMF PSI decision

As the IMF refused to sign off on Uganda's first review of the Policy Support Instrument in mid February, fears amounted of declining donor support.

5 April 2011

Accountability

Background

Notes of meeting between UK Executive Director to World Bank and Civil Society Groups

On February 2nd 2011 civil society organisations held a meeting with the UK Executive Director to the World Bank and staff from the Department for International Development to discuss the formation of the new Green Climate Fund, the World Bank energy startegy review, and the role of the private sector in World Bank lending.

7 March 2011 | Minutes

Finance

News

Gold sales: funding debt relief or IMF bureaucracy?

Preliminary IMF board discussions on the use of excess money generated through gold sales are awaited before the Fund’s spring meetings in mid April. Gold sales were completed in late December 2010, at a time of historically high gold prices, providing the Fund windfall profits of at least $2.8 billion more than projected in 2008 when the decision for gold sales was taken.

6 March 2011

Finance

News

South Sudan: saddled with IFI debt?

With South Sudan set to become the world's newest - and potentially poorest - country in July, a big question remains about what should be done with Khartoum's $37.8 billion foreign debt, including around $1.6 billion owed to the IMF and $600 million to the World Bank.

17 February 2011

Rights

News

IMF serious about measuring conditionality impacts?

More criticism emerged of IMF programmes as it begins the process of another conditionality review. Political upheaval in Ireland and continued protests in Greece are focussing attention on the IMF's controversial economic policy advice.

17 February 2011

Conditionality

Commentary

Repaying bondholders while immiserating people: Ireland’s EU-IMF programme

Partly as a result of the failures of successive Irish governments, Irish people are now confronted with the same anti-democratic and immiserising consequences the IMF has imposed around the rest of the world. Opposition to the EU-IMF intervention, and to the Irish government's cutbacks (including cuts in the minimum wage and social welfare), must demand a default on bank debt and not just a reorganisation of which sectors of Irish society should bear the cost of debt repayments.

16 December 2010 | Guest comment

Finance

News

Venezuela disputes IMF growth predictions

Venezuela's Central Bank said in November that the country should begin to pull out of recession with 2 per cent growth predicted for 2011, four times more than the IMF suggested.

29 November 2010

Finance

News

Argentina wins Paris Club talks without IMF

In mid November, Argentina got the green light from rich countries, grouped together in the so-called Paris Club, to negotiate repayment of about $7.5 billion in defaulted debt without IMF oversight.

29 November 2010

Conditionality

News

Pakistan: IMF pushes regressive taxes

In November, Pakistan and the IMF again failed to agree conditions for release of the sixth instalment of the country's Stand-by Agreement.

29 November 2010