The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
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International
Finance
Analysis
The IMF and World Bank-led Covid-19 recovery: ‘Building back better’ or locking in broken policies?
Early evidence suggests IMF programmes are maintaining long-term fiscal consolidation targets, while World Bank further continues Maximizing Finance for Development narrative amidst Covid-19 crisis.
Rights
Analysis
Fears of lawsuits at World Bank’s tribunal constrain efforts to fight pandemic
Covid-19 pandemic highlights the urgent need for ICSID and wider ISDS reforms as cases threaten to undermine state efforts to protect public health.
IFI governance
News
“Godmother of austerity” appointment to World Bank chief economist post
Carmen Reinhart, co-author of influential 2010 pro-austerity paper, named to key post.
Social services
News
The World Bank, Covid-19 and public education: two steps forward one step back
World Bank’s new report on education and Covid-19 contrasts with IFC announcement on freezing private school investments.
IFI governance
Analysis
Spring Meetings 2020 wrap-up: Will this change everything? Apparently not…
Analysis of this year's World Bank and IMF Spring Meetings: With international response to Covid-19 mired in geopolitical manoeuverings and resistance to systemic change, calls for alternatives grow.
Knowledge
Background
The World Bank: What it is and how it operates
This Inside the Institutions provides an overview of how the Bank’s systems are designed to operate.
IFI governance
Analysis
Fears of shrinking civil society space as World Bank Staff Association calls for axing of Spring Meetings
World Bank Staff Association's call for permanent cancellation of Spring Meetings and its CSPF raises long-standing concerns about the need for improved civil society engagement by the Bank and Fund.
Other news
Finance
News
Argentina increases offer to bondholders after IMF claims “room for improvement”
Private creditors provided with IMF backing in Argentina negotiations as country enters into default.
Rights
News
Concerns over labour rights resurface in IFC's Covid-19 response
Joint letter to IFC chief executive officer raises questions on worker protections.
IFI governance
News
IFC CEO announces planned retirement
Philippe Le Houérou will depart 1 October, after joining IFC in 2015.
Finance
News
IMF watchdog releases Covid-19 tracker
Database launched on Covid-19-related IMF spending to help civil society keep track of lending programmes.
Accountability
News
Long-awaited accountability reforms announced by World Bank board
World Bank board announces Inspection Panel reform package to a mixed reception
Rights
News
Civil society launches framework to assess human rights impact of health privatisation
CSO framework evaluates consequences of private sector activity on right to health.
Finance
News
World Bank pandemic bond instrument fails in COVID-19 response
World Bank's ‘innovative’ health financing instrument proved to be slow and late.
IFI governance
News
Accountability Counsel launches key tool for accountability community
Accountability Console provides complete database of Independent Accountability Mechanism complaints.
