Strategy/roles

Rights

News

Bank, Fund sidestep labour standards: Promote violation of workers’ rights

The World Bank’s 2007 Doing Business Report rewards countries with low levels of labour protection and the IMF’s World Economic Outlook urges labour market deregulation. This has prompted calls from organised labour, developing country governments and US senators for the institutions to respect the standards of the International Labour Organization (ILO).

23 November 2006

Finance

News

IMF macroeconomic advice: 'thanks, but no thanks'

The IMF’s ability to dictate economic policy to member states is fraying because of lost credibility in the wake of its failures in East Asia, Argentina and Russia. Developing countries are now rejecting the Fund’s interference in their economies.

23 November 2006

Accountability

News

World Bank’s handling of fragile states “unsatisfactory”

In September the Independent Evaluation Group (IEG) released its review of World Bank support to 'fragile states'. The report gave the Bank a mixed review on its effectiveness, but raised serious questions about both the way the Bank is organised internally to deal with fragile states and the system it uses to allocate resources. Researchers and Bank-watchers question whether the review has gone far enough to examine what causes state 'fragility' and what role Bank-led reforms and projects may

10 October 2006

Rights

News

World Bank-IMF annual meetings 2006

The annual meetings of the World Bank and the IMF in Singapore faced controversy over the ‘blacklisting’ of civil society participants.

20 September 2006

IFI governance

News

Independence of IMF’s evaluation arm questioned

In an evaluation of the IMF Independent Evaluation Office's first five years of work, an external committee concluded that the IMF board may have undue influence over the body. Additionally the IEO set itself an ambitious work plan for the next year, as it plans to delve into the Fund's internal organisation and trade policy

11 September 2006

Finance

News

Tinkering at the edges of governance reform: IMF quota proposals

After months of official wrangling and European stalling, proposals for changing IMF quotas, which determine financial contributions and voting power in the organisation, have coalesced around a small ad hoc increase for four countries, a commitment to make the quota formula more closely match economic realities and an increase in the basic vote

11 September 2006

IFI governance

News

Evaluation finds Bank's disaster work reactive, lacks strategy

The Independent Evaluation Group published an evaluation of World Bank assistance for natural disasters, finding that the Bank lacks a strategic approach to disasters, is failing to integrate disaster preparation in its lending, and lacks sufficient expertise or coordination mechanisms.

19 June 2006

Conditionality

News

IMF strategic review: too little, too late?

The managing director's report on the medium-term strategic review released at the spring meetings was short on specific proposals for reform implementation and lacked commitments for improved democratic functioning or strengthened surveillance of large industrial countries.

19 June 2006

Conditionality

News

Evaluation of IMF finance assessments

The Independent Evaluation Office report on the Financial Sector Assessment Program describes the programme as a "distinct improvement" in the Fund's ability to conduct financial sector surveillance.

8 April 2006

Finance

News

Will IMF set its sights on managing global reserves?

The managing director's report on implementing the Fund's medium-term strategy was discussed by the board 3 April and is anticipated to be released at the spring meetings. Civil society groups have been critical of the opaqueness of the process and the failure to broaden participation.

8 April 2006