Ecuador referendum reinforces the country’s decision against a mechanism criticised for being asymmetric, unjust and detrimental to citizens’ rights.
Latin America & Caribbean
Environment
News
Civil society raises concerns about Resilience and Sustainability Trust’s green conditionality as Fund conducts interim review
CSOs and experts question the suitability of ‘green' policy conditions attached to RST loans.
IFI governance
Analysis
G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push
In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive and better capitalised MDBs.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens
V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.
IFI governance
Background
Agriculture, financialization, and gender: Exploring the World Bank’s response to interlinked phenomena
Notes from the Civil Society Policy Forum on 17 April 2024 titled "Agriculture, financialization, and gender: Exploring the World Bank’s response to interlinked phenomena"
IFI governance
Background
The future of Special Drawing Rights as a development finance tool: What's next?
Notes from the Civil Society Policy Forum session on 17 April 2024, titled "The Future of Special Drawing Rights as a Development Finance Tool: What's Next?"
Environment
Analysis
Gambling with the planet’s future? World Bank Development Policy Finance, ‘green’ conditionality, and the push for a private-led energy transition
BWP's review of energy sector conditionality in World Bank Development Policy Financing from fiscal years 2018 to 2023 reveals the Bank has followed a pattern of promoting neoliberal reforms in many countries' energy sectors, with climate action increasingly being viewed as the rationale for these changes.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
Finance
News
New book addresses shortcomings of traditional approaches to debt and economics
New book details the gendered effects of austerity and argues that the human rights of people living in debt-distressed countries must take precedence over creditors’ financial interests.
Finance
News
IMF acknowledges capital controls have helped Argentine economy
IMF research acknowledges measures to restrict capital outflows introduced in 2019 contributed to Argentina meeting the performance criteria for the Fund’s Extended Fund Facility.
Finance
Analysis
Balancing ambitions and bridging divides at multilateral development banks
The success of the World Bank Evolution Roadmap will depend on developed countries' willingness to bridge the gap with developing countries by increasing Global South decision-making power and committing to a capital increase.
Environment
News
World Bank’s reliance on private capital to finance green transition in low- and middle-income countries risks falling flat
Despite lofty rhetoric, Bank’s attempts to use scarce concessional finance to build investable project pipelines to secure power sector decarbonisation faces significant hurdles.
