A leaked IMF and World Bank report confirms the HIPC initiative is not delivering.
Debt
Finance
News
IDA grants-loans controversy ends
A deal between the US and Europe means that 18 to 21 per cent of the World Bank’s International Development Association aid will now come in the form of grants rather than loans.
Finance
News
G8: “Absolutely zilch” for Africa
Civil society organizations were disappointed by the outcome of talks at the G8 summit in Canada on an Africa Action Plan, HIPC and education.
IFI governance
News
IMF role in debt arbitration disputed
Ministers at the Spring Meetings agreed that the IMF should not, except in “exceptional circumstances” provide large bailouts to countries in financial crises.
Conditionality
Background
The Ugandan PRSP Experience
Meeting with Rick Rowden, RESULTS, 31 May 2002
Finance
News
East Timor debt, adjustment fears
The first elected government in East Timor faces an estimated US $154-$184 million shortfall in its initial three-year budget.
Conditionality
News
IMF in Argentina: “failed to learn the lessons of East Asia”
The number of pundits up in arms over the IMF’s handling of the crisis in Argentina continues to mount. The most recent selection includes Brazilian President, Henrique Cardoso, and ex-World Bank Chief Economist, Joseph Stiglitz.
Finance
News
Assessment of the FfD Outcome Paper and Proposed Next Steps
In the course of the last six months, the European NGO coordination, actively comprised of over 40 European NGOs in 11 countries including 8 national networks, has made continuous steps to focus and revise NGO demands regarding the FfD process towards a realistic, achievable and meaningful political outcome.
Finance
Analysis
Taken for granted? US Proposals to Reform the World Bank’s IDA Examined
US debt campaigners are siding with the Bush administration against European leaders and other NGOs over a key source of finance for the world’s 79 poorest countries. Discussions on the pros and cons of providing grants instead of loans through IDA appear deadlocked (March 2002).
Land
News
Brown’s “New Deal” suggests enhanced Bank, Fund roles
Gordon Brown’s recent speeches on a “New Deal” for the global economy have been generally welcomed, especially for their suggestions that aid budgets should be increased.
Featured briefings
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.