The IMF has restarted its programme in Malawi after alleged looting of government money in 2013, releasing a $20 million disbursement. NGOs have voiced their dissatisfaction with the IMF, as well as the government over the failure to publish an audit upon which Fund's decision was based.
The Bank is launching a review of the controversial Program-for-Results instrument which was approved in early 2012.
Troika mulls new loan while Greek government touts economic success story but economic, health and human rights conditions deteriorate. Lagarde admits “miscalculations” occurred in Greek loan, while European parliamentary committee blasts Troika as unaccountable and illegitimate.
Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The IMF has reformed lending facilities for low income countries, introducing three credit facilities; the Policy Support Instrument, a non-financing programme will monitor the mechanisms with a review expected in 2015.
The World Bank publishes draft of a proposed new operational policy on guarantees.
The Bretton Woods Project review of the most important developments at the World Bank and IMF in 2013.
Countries, amounting to 90 per cent of voting rights, have given agreement to transfer their IMF allocations from gold sales to low income countries.
A World Bank website purporting to give more transparency on Bank group trust fund datasets has been labelled by a freedom of information website are not reader friendly.
The IMF has approved Romania's precautionary stand-by agreement, but critics have questioned the pervasiveness of structural conditionality in the IMF's advice.