Compensation claim before WorldBank’s ICSID raises questions about the value of special economic zones and fairness of ISDS mechanisms for Global South states.
Latin America & Caribbean
This year, 85 per cent of the world’s population lives under austerity measures, while multinational enterprises and the wealthy have benefited from privileged tax structures and regressivity, allowing inequality to widen.
Initial financing for Costa Rica, Barbados, Rwanda, Bangladesh and Jamaica tied to efforts to ‘green’ PPP frameworks.
The World Bank’s financial inclusion agenda in time of cost-of-living crisis, austerity and financialisation promotes indebtedness of the poor, especially women.
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
IMF’s new gender mainstreaming strategy makes effort to include civil society demands but falls short of transformative vision as austerity remains Fund’s raison-d’état.
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
The finance ministers for the Vulnerable Group of Twenty, a bloc of 58 developing country economies representing some 1.5 billion people, issued a communiqué on 16 October.
Notes from Civil Society Policy Forum event on April 14 2023 titled "Voices of the Global South: Taxation and polycrisis"
Notes from a Civil Society Policy Forum panel on 14 October 2022 titled "Implications of financial deepening for inequality and its impact on gender, poverty, and marginalization."
IMF managing director continues to refuse to answer letter from UN Human Rights Council concerning the negative impact of IMF surcharges as world celebrates 75th anniversary of Universal Declaration of Human Rights.
As IMF and World Bank tinker at margins, 50 policymakers, diplomats and academics from over 26 countries issue Havana Declaration calling for an assertion of Southern power and the building of a new "planetary bloc".
Notes from a Civil Society Policy Forum event on 14 October titled "Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023."
Notes from a Civil Society Policy Forum panel on 13 October 2022 titled "Winds of change: the future of tax reforms in Latin America."
Notes from a Civil Society Policy Forum on 11 October titled, "Green and just? Climate in IMF surveillance & lending – evidence from Pakistan, Argentina, South Africa, Indonesia."
World Bank’s IFC $200 loan for large-scale agricultural production in Brazil disregards serious human rights and environmental concerns, despite calls by 200 civil society organisations globally