Non-debt forms of financing essential, as many countries on front line of climate change face ‘polycrisis’ that threatens macroeconomic stability.
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Pakistan
IFI governance
Analysis
Spring Meetings 2022 Wrap-Up: Progress on key issues side-tracked by Ukraine invasion and BWIs’ own sense of drift
Spring Meetings conclude with frantic calls for stronger multilateralism, but few advances in key issues such as Covid-19 unequal recovery, debt, inequality and climate crises, while Russia participation prevents G20, G24 and Development Committee from releasing a communique.
Environment
Commentary
IMF programme in Pakistan undermines renewable energy roll-out
Loan programme in Pakistan undermines country’s plans for low-carbon transition, as tax breaks on renewables and EVs slashed from IMF-mandated mini-budget.
Conditionality
Analysis
New IMF-Pakistan agreement likely to have adverse impact on women
IMF and Pakistan have reached agreement for a further loan disbursement, with Pakistan agreeing to significant cuts.
Social services
News
World Bank loan to India promotes private sector in education as millions of children out of school
World Bank Indian education loan causes controversy over private sector provisions.
Finance
Analysis
The IMF and World Bank-led Covid-19 recovery: ‘Building back better’ or locking in broken policies?
Early evidence suggests IMF programmes are maintaining long-term fiscal consolidation targets, while World Bank further continues Maximizing Finance for Development narrative amidst Covid-19 crisis.
Conditionality
News
UN holds Pakistan to account for IMF programme impacts on women
Concerns raised about IMF conditions pushing women back into poverty and informal work.
Rights
News
Will IMF stick its head in the sand on human rights Guiding Principles?
UN releases Guiding Principles on human rights impact assessments of economic reforms, begging the question of how the IMF will respond.
Other news
IFI governance
Background
Coup d'états and political instability: The roles of national, regional, and international actors
Notes from a Civil Society Policy Forum on 12 October titled: "Coup d'états and political instability: The roles of national, regional, and international actors."
IFI governance
Background
Green and just? Climate in IMF surveillance & lending – evidence from Pakistan, Argentina, South Africa, Indonesia
Notes from a Civil Society Policy Forum on 11 October titled, "Green and just? Climate in IMF surveillance & lending – evidence from Pakistan, Argentina, South Africa, Indonesia."
Finance
News
Restart of Pakistan’s IMF loan agreement collapses with change in government, as soaring costs of IFC-supported LNG add to fiscal pain
Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.
Conditionality
News
Pakistan resists IMF measures that could “push more people into poverty”
IMF programme would result in increased electricity prices and regressive consumer tax hikes amid rising cost of living.
Gender
Background
Advancing a feminist approach to women's economic inequality
Notes from the Civil Society Policy Forum panel event on 16 October on women's economic inequality and macroeconomic policy.
Gender
Background
Cutting to the core: Rethinking the IMF’s way of doing business to tackle gender inequalities
Notes from the Civil Society Policy Forum panel event on 17 October on the IMF’s approach to gender.
Finance
News
Pakistan requests 13th IMF loan, amid US-China tensions
As Pakistan requests an IMF loan amid concerns about its debt sustainability, the IMF response is caught up in China-US tensions.
Land
News
NGOs denounce World Bank land conference
NGO coalition Our Land Our Business denounced the World Bank’s March conference on land and poverty, condemning the Bank’s role in land grabs.
