V20 called for substantive debt relief and increased concessional financing to help break vicious cycle of debt and Loss and Damage, and spur ‘climate-positive development’.
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.
IMF’s lending into arrears policy can be a way to break out of the debt restructure deadlock and provide the much-needed financing for countries in debt distress.
Ghana left with $250 million bill for unused gas in 2019 primarily due to ‘take or pay’ clause in Bank-supported PPP contract.
New IMF working paper establishes macro-criticality of unpaid care work but remains blind to Fund’s negative policy impacts on women and girls.
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.
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.
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.
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."
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.
Alex Mould says guarantee included commitment to sign four ‘take or pay’ contracts with independent power producers.
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.
The IMF has approved the third disbursement of a loan agreement to Ghana, however, concerns were raised regarding associated tax rises.
The IMF and Ghana have reached a long-anticipated loan agreement.
This session gave an overview on the links between private sector and healthcare provision in tackling poverty.
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.