A new article, co-written by Eurodad and the Bretton Woods Project, analyses the BRICS' newly launched bank and reserve arrangement.
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
Updates on the Clean Technology Fund (CTF) from CIFs Monitor 9
The effectiveness of the Bank's accountability mechanisms relies on the extent their findings are accepted by Bank management. In three recent cases the Bank president has not responded seriously to their findings. The mechanisms must be made powerful and independent enough to hold the Bank to account.
The World Bank’s push for ‘climate-smart agriculture’, including a new joint initiative, was criticised by CSOs. An Inspection Panel case on forced labour in Uzbekistan cotton fields was postponed for up to 12 months.
Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The Bretton Woods Project review of the most important developments at the World Bank and IMF in 2013.
Countries, including Russia and India, have continued to express concerns over the failure to complete the 2010 IMF quota reform.
New concerns have been raised on the World Bank’s involvement in the Simandou mine in Guinea, including on the use of biodiversity offsets, while civil society has repeated unaddressed concerns on the Mongolia Oyu Tolgoi mine. Further concerns have been raised on mines in Dominican Republic, Peru and South Africa.
Drawing on case studies, reports and evaluations, Bruce Rich paints a picture of a Bank still inflicting suffering on vulnerable populations, and calls on Bank president Jim Yong Kim to show real leadership so that the Bank can learn from experience rather than flee from it.
The World Bank has declined to take immediate action over identified issues on water availability, air quality and community services related to Eskom for the Medupi coal-fired power plant in South Africa.
The crisis-hit government of Swaziland agreed a 2.4 billion rand ($324 million) loan from South Africa in August, which will be conditioned on the adoption of IMF-recommended fiscal reforms.