A joint statement from 34 global civil society organizations regarding the extremely disturbing reports of a child sexual abuse cover-up by World Bank Group officials in connection with IFC's investment in Bridge International Academies in Kenya.
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Sub-Saharan Africa
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
IFI governance
Analysis
Annual Meetings 2023 Preamble: Lack of governance reform and economic transformation front and centre as World Bank and IMF meet in Africa for first time in 50 years
As the World Bank moves toward finalising its ‘Evolution Roadmap’, and IMF shareholders struggle to agree on an outcome to the 16th Review of Quotas, the stakes in Morocco are high.
Finance
News
The IMF in Kenya: Regressive taxation as the new face of austerity
Kenyans take to the streets as IMF-imposed regressive tax regime aggravates cost of living crisis and undermines productivity.
Environment
News
World Bank’s reliance on private capital to finance green transition in low- and middle-income countries risks falling flat
Despite lofty rhetoric, Bank’s attempts to use scarce concessional finance to build investable project pipelines to secure power sector decarbonisation faces significant hurdles.
Finance
Analysis
Assessing the Bretton Woods Institutions’ legacy
New collection of critical essays by authors from MENA and Sub-Saharan Africa do a retrospective of the BWIs involvement in the region, and the legacy of BWIs-supported unjust and extractionist world economic order.
Finance
Commentary
Financial liberalisation, capital controls and development in Africa: The case of Uganda
Financial liberation has had a significant effect on Uganda’s economy opening the door for significant foreign ownership while facilitating the ongoing extraction of wealth.
Environment
News
IFC continues extractive investments under cover of biodiversity offsets
World Bank and IFC continue promoting false solutions to climate and environmental emergency, helping extractive companies greenwash their environmental impacts.
Other news
IFI governance
Background
Transformative policy pathways: Lessons from feminist economics programming for the IMF
Notes from the Civil Society Policy Forum on 10 October 2023 titled "Transformative policy pathways: Lessons from feminist economics programming for the IMF."
IFI governance
Background
Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework
Notes from the Civil Society Policy From on 13 April titled "Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework."
Environment
News
MIGA’s new insurance for voluntary carbon offsets risks propping up junk assets, say campaigners
World Bank’s political insurance arm to provide risk cover to existing offsets if they are affected by governments efforts to better regulate problem-plagued offset schemes.
Land
News
Word Bank promotes agricultural corporations at cost of food security in Africa
New CAFOD report exposes World Bank’s harmful approach to agriculture increases food insecurity in Africa.
IFI governance
Background
Political economic reforms in the extractive sector as a catalyst to sustainable development in Africa
Notes from the CSPF on 12 April titled "Political economic reforms in the extractive sector as a catalyst to sustainable development in Africa."
IFI governance
Background
Financial flows, capital controls, and development impacts in the Global South
Notes from the CSPF on 11 April titled "Financial flows, capital controls, and development impacts in the Global South."
Infrastructure
News
MIGA’s support for gas projects raises concerns about its climate credentials
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
Finance
News
Chad gets debt rescheduling, not relief, and is left dependent on oil revenues
Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.
Featured briefings
5 October 2023
World Bank and IMF Annual Meetings 2023
4 October 2023
The Bretton Woods Observer: Autumn 2023
3 October 2023
Assessing the Bretton Woods Institutions’ legacy
New collection of critical essays by authors from MENA and Sub-Saharan Africa do a retrospective of the BWIs involvement in the region, and the legacy of BWIs-supported unjust and extractionist world economic order.