Sub-Saharan Africa

Accountability

Analysis

A proposal for Ajay: No evolution without remedy

While World Bank President declares the benefits of a “bigger and better” Bank, the scandal of alleged child sexual abuse and cover up relating to IFC investments in Bridge Academies demonstrates the urgent need for the Bank to establish a robust remedy framework.

13 December 2023

Finance

Analysis

Decolonising the global economic architecture: The prerequisite for a just transition

Global South faces severe structural deficiencies that weaken its economic sovereignty and put it at the mercy of a neo-colonial global financial architecture.

13 December 2023
Matthew Martin presents new debt database to IMF at a Civil Society Policy Forum event during the October 2023 Annual Meetings in Marrakech, Morocco. Credit: Iolanda Fresnillo/Eurodad

Finance

News

New data show Global South is in worst debt crisis ever, with another lost decade looming

Civil society alliances call to prioritise sustainability of life over debt, while IMF continues to insist situation is not "systemic", in contrast to what the UN Secretary General has called a "systemic failure".

13 December 2023

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.

18 October 2023

Accountability

News

Demanding accountability: Response to reports of a child sexual abuse cover up at the World Bank

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.

19 October 2023 | Letters

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.

4 October 2023
TRANSFORMATIVE POL ICY PATHWAYS: LESSONS FROM FEMINIST ECONOMICS PROGRAMMING FOR THE IMF.

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."

10 October 2023 | Minutes
World Bank Group President Ajay Banga enters headquarters on his first day, Washington DC, 2 June 2023.

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.

5 October 2023

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.

4 October 2023

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.

4 October 2023
Protest at COP27, celebrated in Sharm el-Sheikh, Egypt in November 2022. Credit: Oliver Kornblihtt / Mídia NINJA

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.

3 October 2023 | Briefings

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.

19 July 2023 | Guest comment