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.
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Mozambique
Environment
News
World Bank and IMF lend support to mega-gas project in Mozambique, undeterred by growing risks
Despite growing focus on climate issues, both institutions have backed controversial Mozambique LNG project.
Finance
Analysis
Mozambique and the IMF's get out of jail free card
Joseph Hanlon asks where the accountability for the Mozambique debt crisis lies and why the poor are once again paying the costs.
Conditionality
Analysis
Pro-poor or anti-poor? The World Bank and IMF’s approach to social protection
Stephen Kidd critiques Bretton Woods Institutions' approach to targeted social protection systems, arguing the poor lose out the most.
Finance
Analysis
Debt sustainability review: Tinkering around the edges while crises loom
Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
Environment
News
World Bank policy lending undermines climate goals
A CSO report has found that the World Bank’s development policy lending is supporting incentives for fossil fuels in Egypt, Indonesia, Mozambique and Peru.
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.
Social services
Analysis
GFF falls short on family planning
Investments by the World Bank-hosted Global Financing Facility (GFF) do not reflect the family planning priorities identified by developing countries and local communities. The GFF also continues to suffer from a lack of transparency and meaningful civil society participation, raising doubts about the new mechanism’s effectiveness.
Other news
Infrastructure
News
MIGA’s support for gas projects raises concerns about its climate credentials
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
Environment
News
Mozambique IMF loan moves forward amid serious sustainability and transparency concerns
Fresh $456m IMF loan to Mozambique risks adding to insecurity and debt crisis as LNG projects have fuelled conflict and likely to become stranded assets.
Environment
Background
World Bank Group Paris Alignment: Governance & private sector participation in the energy sector
Notes from a Civil Society Policy Forum event on 16 October.
Environment
Background
On track to 1.5C: Mainstreaming climate and forest actions in MDB lending and country strategies
Notes from a meeting at the IMF/World Bank 2017 spring meetings on MDB actions on climate change and forests.
Finance
News
IMF and World Bank complicit in “climate debt trap” following Mozambique cyclones
International community fails to deliver on 'Loss & Damage' while poorest countries become further indebted.
Finance
News
IMF reconsiders new loan as Mozambique defaults
Mozambique defaults on its debt after IMF freezes loan. IMF reopens discussions on new loan programme but civil society concerned lessons are not learnt.
Environment
News
US abstains from IFC investment in Mozambique paper plantation
US has abstained from voting on an IFC investment in a forestry project in Mozambique, raising concerns about environmental and social impacts.
Accountability
News
Complaint against the IFC in Mozambique
The Compliance Advisor/Ombudsman (CAO), the International Finance Corporation's (IFC) accountability mechanism, has transferred a complaint over an IFC-supported project in Mozambique to its compliance function, which will assess whether the project has breached the IFC's performance standards.
