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.
Global architecture
Finance
Background
The IMF and financial sector reform
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.
Finance
News
Less carrot, more stick please
As negotiations close over donations to the World Bank's financing arm for low income countries, civil society groups have expressed disappointment over the failure to make progress on conditionality, debt sustainability, allocation or impact assessment.
Finance
News
Fund fights capital controls, not turbulent capital markets
Despite concerns about the consequences of the credit market breakdown in rich countries spilling over into other countries, the IMF is nagging developing countries to open their capital accounts and looking to regulate sovereign wealth funds.
Finance
Analysis
Programme conditions, project safeguards: Quo vadis World Bank?
This briefing clarifies the landscape of programme conditions and project safeguards and what it implies for a move towards responsible lending standards.
Accountability
News
Bank takes on illicit flows
Together with the UN, the Bank has backed the Stolen Asset Recovery initiative to recoup the assets stolen from developing countries, estimated at up to $1.6 billion per year.
Finance
News
IMF surveillance role: fundamentally misaligned?
Shortly after IMF members agreed to a new bilateral surveillance framework on exchange rates in June it was undermined by the US and criticised by civil society. Now the US wants the Fund to start regulating sovereign wealth funds.
IFI governance
News
What will Zoellick's World Bank look like?
With an increasing number of commentators asking whether and how the World Bank can remain relevant, chief economist Francois Bourguignon unveiled a draft overview of a 'long-term strategic exercise', and the IEG released an evaluation of the Bank's work in middle-income countries.
IFI governance
News
Heated exchanges over exchange rates
The IMF executive board agreed to revise the legal framework for bilateral surveillance in June with the final text incorporating many of the safeguards demanded by developing countries but still angering the Chinese.
IFI governance
News
UK Treasury to focus on IMF surveillance reform in 2007
In its annual report to parliament about the UK and the IMF, this year subtitled "Reform to delivery prosperity for all", the UK Treasury's most ambitious goal for 2007 is to revise the IMF's surveillance framework. While also setting out to build on the proposals for governance reform of the IMF, the report does not prioritise creating an open and merit-based process for selecting the managing director of the IMF, overhauling the transparency policy at the Fund, or grappling with the issue of w
Featured briefings
1 October 2024
Year one of World Bank Paris Agreement alignment in the energy sector: ‘green conditionality’ dwarfs green investments
New BWP research finds the Word Bank's approach to Paris alignment is being used to a significant extent to impose ‘green conditionalities' on borrowing countries, especially in the Global South.
3 July 2024
The Bretton Woods Observer: Summer 2024
3 July 2024
Is the World Bank rolling back commitments to citizen engagement, again?
Understanding the Bank’s chequered history with public, community and civil society participation is key for understanding what is at stake and what to do next.