Over the past year, World Bank chief economist Justin Lin has tried to reopen debate at the Bank over whether developing country governments should adopt active industrial policies, previously taboo at the institution.
Macroeconomic policy
Conditionality
News
Call for debt audit as IMF austerity fails
As IMF austerity policies fail to solve Greece's debt crisis, activists call for an audit commission. Despite ongoing public protests and increasing challenges from academia, old economic principles continue to guide Fund practices.
Finance
News
The long road to nowhere? Disputes on the global financial architecture
While official ambitions are to refashion the global financial architecture, the IMF has yet to publish new thinking on capital flows, the G20 discussion on global imbalances is mired in dispute and the debate on a new monetary system may go in the wrong direction.
Accountability
News
World Bank launches new Africa strategy
In March, the World Bank launched its new Africa strategy, outlining three main areas in which it will focus its operations: competitiveness and employment, vulnerability and resilience of citizens, and governance and public sector capacity.
Conditionality
News
Nigerian economists bash IMF advice
February's IMF Article IV consultations in Nigeria resulted in strong criticism by the Nigerian government, central bank, the Nigeria Economic Summit Group, and economic analysts.
Conditionality
Analysis
The IMF's new conditionality
While the 2007-2010 crisis offered the International Monetary Fund an unexpected opportunity to demonstrate that it was serious about changing its emergency lending practices, Daniela Gabor argues that in Eastern Europe the Fund ended up pushing unnecessary fiscal austerity and privileging private financial interests.
IFI governance
News
Dollar debate continues
In January, French president Nicholas Sarkozy stoked the debate about reforming the international monetary system while deliberations on the potential future role of the IMF’s special drawing right as a prototype global reserve currency continued.
Rights
News
IMF serious about measuring conditionality impacts?
More criticism emerged of IMF programmes as it begins the process of another conditionality review. Political upheaval in Ireland and continued protests in Greece are focussing attention on the IMF's controversial economic policy advice.
Finance
News
IMF nostalgia: debate on capital account liberalisation all over again?
As emerging market economies expand tools to actively manage international financial flows to cope surges, a liberalisation reform of the IMF's statutes is up for debate again.
IFI governance
News
Brazil angrily rejects IMF fiscal warning
"The managing director of the IMF must have gone on vacation and some of the orthodox old men ... got distracted and wrote this stupid thing", said Brazil's finance minister Guido Mantega about a January IMF report on the country's fiscal situation.
Featured briefings
6 April 2022
The Bretton Woods Observer: Spring 2022
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8 November 2021
IMF surveillance and climate change transition risks
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.