Highlights of a 22 June 2007 meeting between UK NGOs and UK executive director to the World Bank and IMF, Tom Scholar. Issues covered included review of the Bank's transport strategy, avoided deforestation, conditionality, debt, social protection and IFI governance.
As a key part of its remit, the Commission on Growth and Development has identified twenty areas it deems crucial 'to furthering our understanding of long-term sustainable economic growth and development'.
This panel discussion addressed the pros and cons of fiscal space for infrastructure when infrastructure is trade-related, what they mean for current proposals by the World Bank and IMF on fiscal space, and the importance of an assessment that looks jointly at the trade and financial aspects on the grounds of poverty reduction, development and environment goals.
Minutes from meeting: The agenda of the Development Committee and Africa as a focal point for growth and responsibility, with Heidemarie Wieczorek-Zeul, Minister for Economic Cooperation and Development, Germany and Antoinette M. Sayeh, Minister of Finance, Republic of Liberia.
Serbia became the latest country to retire its debt to the IMF earlier than anticipated. The National Bank of Serbia paid out 15 March the final $230 million of debt that was not due for full repayment until 2010.
For the last several years the World Bank and IMF have squared off against governments, NGOs, UN agencies and even each other over the concept of ‘fiscal space’. This often nebulous and ill-defined term has caused much confusion. Nancy Alexander finds that at the heart of the matter is a difference of opinion over how and when governments should be allowed to invest in both infrastructure and basic services.
The seventh annual conference of the Parliamentary Network on the World Bank was held in Cape Town in March.
Every three years, a series of meetings is held to cajole rich countries into putting money into the coffers of the International Development Association.
Reeling from a bruising fight with his board over his plans to tackle corruption, Bank president Paul Wolfowitz now must go hat in hand to donor countries asking them to cough up more for poor country financing just as it has been revealed that the Bank has not been able to get the money it already has earmarked for Africa out the door.
Newly elected Nicaraguan president Daniel Ortega and his Sandinista party are presenting two different faces to the IMF.