In October, the IMF board approved the establishment of a Policy Support Instrument (PSI), a non-lending programme which will provide policy advice to poor countries and send a signal to donors and markets about the quality of a country's economic policies. Critics suspect the instrument is little more than a new way "to extend Fund domination".
Strategy/roles
Environment
News
World Bank and climate change: power failure
Summary of a report by Friends of the Earth US, the November meeting in London on climate change and the UK parliamentary early day motion to end UK support for harmful oil subsidies.
Rights
News
Lao dam: obligations undermined?
A report by Can and Leader analyses the concession agreement for the Bank-supported Nam Theun 2 dam in Lao PDR (Update 45), between the country's government and the Nam Theun 2 Power Company Ltd (NTPC).
IFI governance
News
OED slates Bank development effectiveness
In October, the Operations Evaluation Department published a report summarising lessons from recent evaluations; Bank management, in unusually strong language, has expressed concerns about both the methodology OED used to reach its conclusions, and the conclusions themselves.
Rights
Background
Highlights of meeting with UK Secretary of State for International Development, Hilary Benn
Highlights of meeting with UK Secretary of State for International Development, Hilary Benn
IFI governance
Analysis
How much trust should we put in the funds?
In 2004, the World Bank was responsible for the disbursement of over $3 billion through the 903 trust funds that it manages. The amount of funds being channelled through trust funds looks set to take off as increased international aid commitments chase limited spending channels. Recipients of these funds may see them as manna from heaven - but if trust fund support is not additional to other aid commitments, is this an optimum use of resources or just a cacophony of voices all trying to pull t
IFI governance
Commentary
Giant taming: 10 years of the Bretton Woods Project
Director, European Network on Debt and Development; Coordinator, Bretton Woods Project, 1995-2004
Rights
Analysis
World Bank support for extractives: complicity in human rights violations
Refers to the Bank's failure to adequately and explicitly address human rights in its policies, as well as the causality between Bank supported extractive projects and the exacerbation of conflict. Looks at case studies from Democratic Republic of Congo, Guatemala and Chad and Camerooon.
Environment
News
Climate change and the World Bank: dubious green credentials
Critique of the new role assigned to the World Bank by the G8 in tackling climate change by creating a framework for clean energy and development. Summary of recent documents examining the Bank's perpetuation of fossil-fuelled economic expansion and false claims made in relation to the Clean Development Mechanism
Knowledge
News
UK National audit office undertakes a review of DfID's engagement with multilaterals
Summary of the terms of reference of the UK National audit office's review of DfID's engagement with multilaterals
Featured briefings
16 October 2024
The Bretton Woods Observer: Autumn 2024
16 October 2024
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
16 October 2024
Sustainable development requires sustainable finance: why local currency financing is part of the solution
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.