World Bank president Jim Yong Kim's new overarching strategy on ending absolute poverty and creating shared prosperity elicits criticism for ineffectively tackling inequality and sustainability.
Negotiations on a $4.8 billion IMF loan to Egypt (see Update 83) remain stalled, although Finance Minsiter, Morsy Hegazy reiterated in January that talks are "still ongoing".
The first phase of the Bank's safeguard review has been extended to mid-April with global consultations planned, including on seven emerging areas.
A leaked copy of an evaluation of the Bank's forest strategy criticises the Bank's failure to address social and environmental goals. Further criticism has also been raised over the Bank's Forest Carbon Partnership Facility (FCPF).
In response to China and India's graduation from low-income country (LIC) to middle-income country status (MIC), the Bank has decided to review its country classification system.
The World Bank's new president Jim Yong Kim set out his vision for the institution at the Bank's annual meetings in mid October, but his desire to build a 'solutions' bank and end absolute poverty comes with few details or big changes at the Bank. Next year's replenishment of the International Development Association (IDA) will put Kim's vision to the test.
Minutes meeting for A Global Shared Societies Agenda
As the World Bank released its latest global poverty estimates, critics warn of the data's shortcomings and how it compromises the understanding of the issue.
While the G20 postponed decisions on issuing new special drawing rights (SDRs), the IMF-managed international reserve asset, the IMF completed its surveillance review and a new Fund report tackled the thorny issue of global imbalances.
A new Basic Capabilities Index (BCI), published by civil society network Social Watch, is “closer to reality than the one-dollar-a-day line of the World Bank”, according to Social Watch director Roberto Bissio.