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.
Despite growing focus on climate issues, both institutions have backed controversial Mozambique LNG project.
Joseph Hanlon asks where the accountability for the Mozambique debt crisis lies and why the poor are once again paying the costs.
Stephen Kidd critiques Bretton Woods Institutions' approach to targeted social protection systems, arguing the poor lose out the most.
Despite making some positive changes, the IMF and World Bank Debt Sustainability Framework review has ignored fundamental issues, as risk of new crises persist.
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.
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.
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.
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
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.
Notes from a Civil Society Policy Forum event on 16 October.
Notes from a meeting at the IMF/World Bank 2017 spring meetings on MDB actions on climate change and forests.
International community fails to deliver on 'Loss & Damage' while poorest countries become further indebted.
Mozambique defaults on its debt after IMF freezes loan. IMF reopens discussions on new loan programme but civil society concerned lessons are not learnt.
US has abstained from voting on an IFC investment in a forestry project in Mozambique, raising concerns about environmental and social impacts.
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.