A forthcoming World Bank commissioned book on large dams stresses their purported economic benefits whilst inadequately addressing serious social and environmental costs. The book is a further indicator of the Bank's preference for large dams.
Latin America & Caribbean
Rights
News
The Bank of the South: the search for an alternative to IFIs
Despite the political victory of transformative forces in South America, differences of opinion over the direction of the Bank of the South, a new regional development bank, may slow progress towards developing an autonomous alternative to the World Bank and IMF-dominated international financial architecture.
Accountability
News
Inspection Panel conflicts
The Inspection Panel has closed applications for a new Panel member to replace Tongroj Onchan. An NGO letter had expressed concerns about the conflict of interest posed by the inclusion of Bank staff on the selection committee, and the failure to involve civil society in the process.
IFI governance
News
World Bank tries to rewrite Bolivian history
The World Bank's Bolivia office has decided to get into the propaganda game. This month it produced a snazzy little 22-page booklet that it is distributing by the tens of thousands in three major Bolivian dailies, in La Paz, Cochabamba, and Santa Cruz. The booklet is titled, "Ten Things They Never Told You About the World Bank in Bolivia."
Environment
Commentary
Camisea and the World Bank: A lost opportunity to make things better
Several weeks ago the International Finance Corporation (IFC) of the World Bank approved a loan for Camisea II in Peru, the project to export liquefied natural gas. Even though concerns had been raised about this project over environmental, social and now economic issues, the IFC did not hesitate to provide a loan for the Lot 56 consortium operated by Hunt Oil (Peru NLG).
Environment
News
Venezuela v. Exxon back to ICSID?
Venezuela has asked Exxon Mobil to go back to the World Bank's International Centre for the Settlement of Investment Disputes, and drop lawsuits filed in other courts in London and New York.
Land
News
Slaughtering the Amazon
A new report finds the World Bank culpable for the cattle industry's encroachment on the Amazon.
Land
News
The Bank, Brazil and biofuels
The World Bank has become a major financial and political supporter of Brazil's campaign for sugar-cane based ethanol and a free market for bio-fuels.
Finance
News
The IMF in Argentina: the search for relevance
Since Cristina Fernandez de Kirchner assumed the presidency in December the Fund has been involved with the renegotiation of Argentinean debt with the Paris Club and a controversy over official statistics.
IFI governance
News
Llamado en respaldo al retiro de Bolivia del ICSID
En enero del 2008, más de 800 grupos de ciudadanos de 59 países de todos los continentes presentaron una solicitud a Robert Zoellick, Presidente del Banco Mundial, exigiendo que el Banco respete la decisión de Bolivia de retirarse del Centro Internacional para la Presentación de Disputas sobre Inversiones.
Finance
News
Peru to bow out, Turkey to renew?
Peru has indicated that it does not plan to renew its stand-by arrangement with the IMF when it expires next year. Turkey, the Fund’s largest borrower, is still debating is next move when its programme expires in May.
Environment
News
Further embarrassment over Botnia
Minutes before cutting the ribbon of inauguration for the IFC-funded pulp mill owned by Finnish Company Oy Metsa Botnia in Uruguay at the start of November, Erikki Varis, CEO of the Finnish company was ordered to hold off by the Spanish government
