World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.

World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
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.
Nigerians set for higher energy bills amidst deep economic crisis as Bank pushes for removal of ‘inefficient’ energy subsidies.
The finance ministers for the Vulnerable Group of Twenty, a bloc of 58 developing country economies representing some 1.5 billion people, issued a communiqué on 16 October.
Notes from a Civil Society Policy Forum panel on 14 October 2022 titled "Implications of financial deepening for inequality and its impact on gender, poverty, and marginalization."
Notes from a Civil Society Policy Forum event on 14 October titled "Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023."
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."
New IMF debt sustainability framework fails to alleviate concerns over transparency and overoptimism in midst of large-scale debt crisis, as countries face severe austerity and private lenders wait for bailouts.
Problematic track record on climate and fossil fuel finance means IMF-World Bank collaboration on the Resilience and Sustainability Trust risks repetition of failed policies.
A November 2021 report by the Center for Human Rights and Global Justice at New York University highlights the human rights consequences of the World Bank’s Maximising Finance for Development approach.
Independent Evaluation Group report highlighted private sector education provision can exacerbate inequality and undermine the public sector school system.