In May Turkey ended its latest stand-by agreement with the IMF. To some this meant the long awaited declaration of autonomy for Turkey and the loss of the final "consumer" for the IMF. For others who adhere to the neoliberal orthodoxy, this meant the graduation of Turkey and the successful completion of the IMF programme. The reality is that neither is correct.
The long-awaited multilateralisation of the Chiang Mai initiative was agreed in early May in Madrid on the sidelines of the Asian Development Bank annual meeting.
The UK's Department for International Development (DFID) has sheepishly defended itself in its government response to the International Development Committee's (IDC) report DFID and the World Bank.
In March the Bank approved a new lending facility to give middle-income countries immediate access to emergency funds in the event of a natural disaster.
Venezuela has asked Exxon Mobil to go back to the World Bank's International Centre for the Settlement of Investment Disputes, and drop lawsuits filed in other courts in London and New York.
The irony of the IMF giving a passing grade to Liechtenstein on money laundering in the same month that Germany launches a massive investigation into tax evasion based in the Alpine country shows that the Fund has a lot of work to do if it wants to help clamp down on illicit flows.
The IMF’s effort to craft a voluntary code of conduct for sovereign wealth funds (SWFs) has sparked concern in different parts of the globe.
The World Bank Group and the IMF have become more involved in assistance to and oversight of Islamic financial institutions.
In Europe, Asia and the United States, civil society has campaigned for reform of the World Bank through the replenishment process of the International Development Association.
While the World Bank has done a lot of work on financial sector reform, the IMF is also a key actor. Since facing criticism over its lack of understanding of financial markets in the wake of the 1997 Asian financial crisis, the IMF has significantly increased its capacity for analysis of the financial sector.