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.
Debt
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.
Finance
News
Mauritania, Malawi qualify for debt relief
Mauritania qualified for the Multilateral Debt Relief Initiative in June, while Malawi completed the Heavily Indebted Poor Countries initiative in August.
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)
Conditionality
News
IMF to relaunch Haitian programme
After years of political and economic disputes, the IMF has finally reinitiated negotiations with Haiti
