The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
South Asia
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider failures
At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
Finance
Analysis
No false solutions: IMF surcharges must go
The IMF’s surcharges review presents a golden opportunity to eliminate these harmful and counterproductive fees.
Finance
News
Pakistan’s debt crisis fuelled by more IMF loans
Pakistan on track to receive its 24th loan from the IMF after the lender disbursed the last tranche of the country’s latest $3 billion programme.
Private Sector
Background
What is the International Finance Corporation (IFC)?
This Inside the Institutions explores the International Finance Corporation (IFC), the World Bank Group’s private sector arm. It examines the function of the IFC as a development institution focused solely on private sector solutions to development and considers civil society critiques.
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
The polycrisis: How unchecked public debt fuels corruption and bad governance
Notes from the Civil Society Policy Forum on 18 April titled "The polycrisis: How unchecked public debt fuels corruption and bad governance."
IFI governance
Background
When exits and accountability collide: What happens when IFC exits projects mid-accountability process?
Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"
Finance
News
Sri Lanka’s continued debt crisis highlights urgent need for wider reform
Sri Lanka’s inability to avoid its 17th IMF programme, and its catastrophic human rights consequences, adds to evidence of IMF and international system's failure to adequately respond to the worsening debt crisis and urgent need for debt cancellation and systemic reform.
Accountability
News
Another day, another IFC scandal
A Telegraph exposé unveils how a private hospital group in India which received £120 million in IFC investment since 2005 was running an illegal organ trading scheme, adding to a growing number of IFC-funded scandals.
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.
