The IMF: Change we can believe in? Notes of a civil society meeting in Istanbul. Speakers include Joseph Stiglitz, Andrew Kumbatira, Caroline Atkinson, and Bhumika Muchhala.
PRSP
IFI governance
News
Rebranding hides little change for IMF lending
The IMF has launched a rebranding exercise for all of its lending to low-income countries, and while the new facilities will deliver more resources, the money seems destined to come with the usual damaging conditionality attached.
Conditionality
News
IFIs and Zimbabwe
The allocation of special drawing rights to Zimbabwe have stirred controversy about whether the country should use these to bolster its flagging public finances, while the fragile coalition government struggles with an external debt burden projected by the IMF to hit almost $7 billion by the end of the year.
IFI governance
Analysis
IMF financial package for low-income countries: Much ado about nothing?
This briefing analyzes announcements made at the end of July by the IMF regarding the level of their financial commitments to low-income countries (LICs) and finds them wanting in relation to the size of new resources, the flexibility of conditionality, and the imrpovements needed to SDR allocations.
Conditionality
Analysis
The potential development implications of enhancing the IMF's resources
In April 2009, the G20 group of leaders committed $1.1 trillion to combat the financial crisis, with the bulk of this being channelled through the International Monetary Fund (IMF). However, this substantial amount of resources may never be provided, and if it is, may not have the intended positive effect on developing countries. Experience so far demonstrates that the IMF is still imposing damaging pro-cyclical conditions on some borrowers, and that the finance provided to low-income count
IFI governance
News
Reviews fail to erase doubts over World Bank conditionality
Reviews of World Bank development policy lending and poverty and social impact analysis leave questions as to the extent to which the Bank's budget support in developing countries targets pro-poor initiatives.
Conditionality
Background
Policy Support Instrument (PSI) - seminar
Notes of discussion at World Bank Civil Society Forum, 23 April 2009
Conditionality
News
IMF emergency loans: Greater flexibility to overcome the crisis?
Despite promising rhetoric, new IMF loans show no greater flexibility in fiscal and monetary policies because of the current crisis. The Fund is still pushing tighter fiscal policy and single-digit inflation.
Conditionality
News
UN criticises IFI-led housing policies
In February the UN special rapporteur's report on housing was released, highlighting the impact of economic, financial and housing policies on the right to adequate housing and how such policies have contributed to the current crisis.
Accountability
News
Ghanaians calls for expulsion of Bank rep
In January, Ghana Web, a daily news and resource site, issued a sharp attack on the World Bank and its country representative in Ghana demanding that the president expel the World Bank country director in Ghana from his post.
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World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.