Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
Latin American states are actively exploring alternative mechanisms to the ICSID state-investor dispute mechanism which they claim has investor bias.
The Bretton Woods Project review of the most important developments at the World Bank and IMF in 2013.
Chapter of CIFs Monitor 8 on the Forest Investment Program (FIP)
On the sidelines of this week's G20 summit, BRICS nations are expected to reveal details of how their proposed $100 billion alternative to the IMF will operate.
As developing countries continue to complain about the US failing to approve IMF governance reforms, the US Treasury formally resubmitted a request for the approval to US Congress.
Every year the Bretton Woods Project celebrates the best specimens of incomprehensible jargon and ridiculous rhetoric issued by World Bank and IMF staff and financial commentators in the cause of IFI business.
With the future of the World Bank up for grabs in the presidency race and the IMF facing a resource crunch, many developing countries are pursuing alternatives to the Washington-based lenders, with Brazil, Russia, India, China and South Africa even mooting a joint BRICS Bank.
"The managing director of the IMF must have gone on vacation and some of the orthodox old men ... got distracted and wrote this stupid thing", said Brazil's finance minister Guido Mantega about a January IMF report on the country's fiscal situation.
The Bank and Fund have decided to restore relations with Honduras, after almost eight months of suspension.
World Bank lending has increased dramatically in Latin America, but an analysis of the conditionalities attached show that the Bank is still pushing its traditional harsh macro-economic framework, despite the changes in policy that the crisis has brought to the rest of the world.
A chorus of voices are celebrating the news that the International Finance Corporation (IFC) the private sector arm of the World Bank, has withdrawn a $90 million loan to the Brazilian cattle farming company Bertin