IMF claims it is does not advocate austerity as Greek finance minister accuses IMF of economising with the truth and pushing harmful and counterproductive reforms.
IMF’s Independent Evaluation Office has found the Fund’s 2010/2011 Troika lending to Greece, Ireland and Portugal fell short in terms of surveillance, design, implementation and decision making, and described controversial decisions as appearing “rubber-stamped”.
Notes from a side event at the IMF/World Bank 2016 annual meetings launching a new report on bonds issuance in Nigeria, Zambia and Ghana, followed by a panel discussion on government bonds as a debt issue.
Notes from a side event at the IMF/World Bank 2016 annual meetings exploring the issue of vulture funds from various angles, as well as possible solutions.
As the world economy continues to stutter, many sub-Saharan African countries are turning to the Fund for financial support, though the Funds are coming with strict conditions to restrict spending.
Despite their popularity, PPPs have a very bad track record of delivering cost-effective investment for governments, and pose additional and serious problems by reducing transparency and accountability.
NGOs have called on the Bank and Fund to ensure that states’ basic needs, rather than just ability to pay, is incorporated in their review of the Debt Sustainability Framework used to assess low income countries.
The IMF has approved the third disbursement of a loan agreement to Ghana, however, concerns were raised regarding associated tax rises.
As Eurozone countries agree a new loan package to Greece, the IMF has conceded to ‘major concessions’ instead of up front debt relief and may participate in a new programme despite its insistence that the Fund's involvement in future programmes is dependent on ‘significant debt relief’.
A report by the UN independent expert on foreign debt, exploring inequality, financial crises and human rights, claims that IMF programmes are associated with a worsening of income distribution.