Relations between the Bank and the government of Papua New Guinea were strained in July by the government’s decision to issue bonds to raise money from the private sector.
East Asia & Pacific
The Asian Development Bank Institute (ADBI), led by its new head Masaru Yoshitomi, has mounted an attack on the IMF’s use of conventional policies for dealing with the crisis in Asia and plans to hold meetings and seminars to challenge the IMF’s approach at the Bank/Fund annual meetings.
In response to concerns that ruling party Golkar would misuse World Bank funds for election purposes, the Bank and IMF agreed in May to put new loans into a special Bank of Indonesia account.
The World Bank Group has appointed the first IFC/MIGA Compliance Advisor/Ombudsperson.
The Yayasan Duta Awam Foundation (YDA) has conducted a 15 month grassroots investigation of the Bank-financed Integrated Swamps Development Project.
In early June the World Bank rushed to defend the proposed China Western Poverty Project from charges that it would disrupt the lives of ethnic Tibetans and had undergone too limited environmental scrutiny.
At the end of February the World Bank and the Government of Korea hosted a conference entitled Democracy, Market Economy and Development.
MONLAR, a network of Sri Lankan people’s organisations, has written to the World Bank pointing out that social and equity issues have been overlooked, and democracy has been infringed in its pursuit of structural adjustment in Sri Lanka.
The worst fears of massive increases in poverty in Indonesia are “unfounded” according to a report by the World Bank, which draws on 3 new surveys on the social implications of the financial crisis.
The coordination, coverage and targetting of public works schemes in Indonesia, part of the Bank’s safety-net programme, has been poor, and resources have been diverted for other uses.
The World Bank has been criticised for taking too long to implement its safety-net programmes in Indonesia, and for failing to ensure that public works benefit the most needy.
IBON Foundation Inc. and BAYAN (New Patriotic Alliance) are organising a conference from 8-11th November to discuss alternative strategies and paradigms to neo-liberal globalisation.