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.
Debt
Conditionality
News
Ortega opts for new PRGF for Nicaragua
Newly elected Nicaraguan president Daniel Ortega and his Sandinista party are presenting two different faces to the IMF.
Conditionality
News
Ecuador, Philippines repay IMF debt
Newly elected Ecuadorean president Rafael Correa, announced in January that he would make early repayments of his country’s $33 million debt to the IMF.
Knowledge
News
Debt sustainability framework unchanged
NGOs contest a review of the World Bank and IMF’s debt sustainability framework for low income countries which concluded that the system was “broadly appropriate”.
Finance
News
Uruguay announces early IMF repayment
In November Uruguay committed to clearing its balances with the IMF earlier than required, announcing its intention to repay its remaining balance of $1.1 billion sometime next year.
Accountability
News
World Bank corruption fight drags on
The World Bank's anti-corruption framework was the subject of one of the most bruising Development Committee debates in memory at the annual meetings. Further challenges for the Bank include the impact of a rapid rise in Chinese lending to developing countries on anti-corruption efforts, and debt campaigners use of the corruption issue to highlight creditor responsibility for 'illegitimate lending'.
Infrastructure
Background
Highlights of UK NGO meeting with Paul Wolfowitz
Highlights from a UK NGO meeting held with Paul Wolfowitz, head of the World Bank, in London on 13 November 2006. Issues covered include: the Bank's anti-corruption framework; financing 'fragile' states; conditionality; debt; and the extractive industry, energy infrastructure and climate change
IFI governance
Background
Highlights of Hilary Benn meeting with UK NGOs
Highlights of semi-annual meeting between UK Secretary of State for International Development and UK NGOs. Topics covered include CSO access to annual meetings, conditionality, anti-corruption, odious debt, clean energy, education in LICUS, bank internal governance, IFC safeguards
IFI governance
Background
Highlights of Tom Scholar meeting with UK NGOs
Highlights of quarterly meeting between UK executive director to the World Bank and IMF and UK NGOs. Topics covered include CSO access to annual meetings, IMF strategic review, conditionality, anti-corruption and education.
Social services
News
Cape Verde becomes IMF’s third PSI country
On 1 August, the IMF board approved Cape Verde's application for the Policy Support Instrument (PSI)
Featured briefings
5 October 2023
World Bank and IMF Annual Meetings 2023
4 October 2023
The Bretton Woods Observer: Autumn 2023
4 October 2023
The IMF and World Bank talk good governance, but walk with state- capturers
From South Africa to Tunisia, Libya and Egypt, the Bank and Fund have demonstrated they are not appropriate allies to address the scale of the crisis the world is facing, especially, given their record.