This letter was written to respond to a World Bank 18 April reply to a March civil society letter about an audit of the International Finance Corporation’s lending to the financial sector. The over 50 groups signed on to the letter believe the IFC’s response is inadequate and urge the Bank's president to insist the IFC do more to address the audit’s findings.
South Asia
Rights
News
IFC financed tea plantation investigated over human rights violations
An in-depth investigation is currently being taken out by the CAO into human rights violations on IFC financed Tata tea plantations.
Environment
Analysis
Pilot Program for Climate Resilience (PPCR)
Chapter of CIFs Monitor 8 on the Pilot Program for Climate Resilience (PPCR)
Environment
Analysis
Clean Technology Fund (CTF)
Chapter of CIFs Monitor 8 on the Clean Technology Fund (CTF)
Finance
Analysis
IMF gets emerging markets wrong, again
The Fund has had to conduct another embarrassing “U-turn” to warn of the growing risks to the stability of developing countries, while cautiously accepting the need for capital controls in principle, but not necessarily in practice.
Private Sector
News
A bad business: Bank divisions on Doing Business revealed
Newly emerged internal documents from the World Banks’ own legal unit reveal strong criticism of the controversial Doing Business rankings following the independent review panel’s critical final report in June.
Finance
Commentary
Why the IMF must cancel Pakistan's debt
Alongside development and economic issues, Pakistan will be tackling the debt repayments that the country is scheduled to make in the next two years and beyond thanks to a $6.64 billion IMF loan agreement. The debt burden is suffocating public spending.
Rights
News
Indian protests against IFIs
Indian civil society coalition the People's Front against International Financial Institutions held a People's Forum and demonstrations against the annual meetings of the Asian Development Bank (ADB) in Delhi in early May.
Social services
News
A healthy step forward? World Bank outlines vision for healthcare
Bank president Jim Yong Kim has publicly prioritised universal health coverage and education however, critics worry about increased support for private companies to deliver these services.
Conditionality
News
Pakistan needs to borrow "to repay IMF"
In late June, finance minister Ishaq Dar informed Pakistan's national assembly that the government "will have to go to the IMF" in order to repay current outstanding loan instalments to the Fund.
Environment
Analysis
Climate Investment Funds Monitor 7
The Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds - the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
Accountability
Background
Bending the arc of poverty
The session focused on the World Bank's development strategy, poverty eradication goals, global inequality, and the threat of climate change.
