Ghana left with $250 million bill for unused gas in 2019 primarily due to ‘take or pay’ clause in Bank-supported PPP contract.
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Ghana
Gender
Analysis
IMF’s recognition of unpaid care work undermined by its own harmful policy advice
New IMF working paper establishes macro-criticality of unpaid care work but remains blind to Fund’s negative policy impacts on women and girls.
Finance
Analysis
IMF and debt restructuring: just talk?
An IMF staff blog has acknowledged weaknesses in IMF’s approach to debt sustainability, meanwhile civil society continues to demand human rights-based approach considering who bears burden of debt repayment.
Environment
Analysis
Forest Investment Program (FIP)
Challenges in measuring progress were noted for the Forest Investment Program (FIP), in particular greenhouse gas accounting. Investment plans for Mozambique and Ivory Coast have been approved. Questions were raised over the reasoning for a commercial teak plantation project in Ghana.
Environment
Analysis
Scaling Up Renewable Energy Program (SREP)
A new a new Enhanced Private Sector Program for the Scaling up Renewable Energy Program in Low Income Countries (SREP) is due to discussed. Cambodia’s investment plan has been approved. Social, environmental and financial risks related to a Nicaragua geothermal project were raised.
Environment
Analysis
Climate Investment Funds Monitor 14
New edition of the Bretton Woods Project's biannual Climate Investment Funds (CIFs) Monitor, including an update on the Green Climate Fund, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
Finance
News
IMF increasing its influence in sub-Saharan Africa
As the world economy continues to stutter, many sub-Saharan African countries are turning to the Fund for financial support, though the Funds are coming with strict conditions to restrict spending.
Environment
Analysis
Climate Investment Funds Monitor 13
New edition of the Bretton Woods Project's biannual Climate Investment Fund (CIFs) Monitor, published to coincide with the World Bank-hosted CIFs trust fund committee meetings.
Other news
Infrastructure
News
Former Ghana national oil company head links World Bank’s Sankofa guarantee to gas power plant deals
Alex Mould says guarantee included commitment to sign four ‘take or pay’ contracts with independent power producers.
Finance
Background
Taxes, Taxes, Taxes: Shifting the IFI Narrative to Progressive Gender-just Taxation
Notes from the Civil Society Policy Forum session on 12 April on the changing international tax landscape from a feminist perspective and challenging IFIs’ role in shaping it at the World Bank and IMF's 2019 Spring Meetings.
Finance
News
Ghana: political costs of structural adjustment
Ghana elected a new president who has pledged to review the country's IMF programme, which was criticised by civil society for its harsh impacts on the poorest.
Finance
News
Taxes rise in Ghana as IMF loan approved
The IMF has approved the third disbursement of a loan agreement to Ghana, however, concerns were raised regarding associated tax rises.
Finance
News
The IMF’s newest bailout in Ghana
The IMF and Ghana have reached a long-anticipated loan agreement.
IFI governance
Background
The private sector and poverty eradication
This session gave an overview on the links between private sector and healthcare provision in tackling poverty.
Knowledge
News
IFC hotel investment: "corporate welfare"
The International Finance Corporation (IFC), the World Bank's private sector arm, has come under fire for approving a $26 million loan to Saudi Arabian prince Al-Waleed bin Talal to build a luxury hotel in Ghana.
Social services
News
World Bank health insurance not delivering in Ghana
In a forthcoming paper, NGO Oxfam will criticise the national health insurance scheme in Ghana, which has received technical assistance from the World Bank, for failing to deliver equitable health care.
