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.
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.
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.
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.
The rationale for adding new pilot countries to the Forest Investment Program (FIP) given funding constraints has been questioned, as well as the focus on providing loans rather than grants. The CIF strategic directions paper noted challenges for the FIP, and proposed a new private sector window. Questions were raised about the consultation of ethnic minorities in relation to a Laos project.
Concerns continues over slow progress in implementing the Scaling up Renewable Energy Program in Low Income Countries (SREP) investments plans and lack of funding for new pilot countries, as well as constraints on grant resources. The CIF strategic directions paper proposed an enhanced private sector programme for energy access. Questions on consideration of indigenous peoples were raised in relation to Liberia and Tanzania projects.
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.
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.
A complaint to the World Bank Inspection Panel by the NGO, Centre on Housing Rights and Evictions (COHRE), on behalf of the Agyemankata community has resulted in a report confirming violations of Bank policies on forced evictions and environmental hazards related to a planned landfill near Accra, Ghana.
In January, Ghana Web, a daily news and resource site, issued a sharp attack on the World Bank and its country representative in Ghana demanding that the president expel the World Bank country director in Ghana from his post.