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.
Western Europe
Infrastructure
Analysis
The rise and fall of World Bank funded megaprojects
The World Bank has announced funding for the controversial Southern Gas Corridor, while exiting two other high profile but problematic megaprojects, Inga 3 in Democratic Republic of Congo and Simandou in Guinea.
Finance
Analysis
IFC investment in Stora Enso: the need for a responsible IFC tax policy
The International Finance Corporation praises the pulp and paper company Stora Enso as an industry leader in environmental and social standards, but questions about Stora Enso’s Dutch tax arrangement remain unresolved.
Accountability
News
IMF managing director found guilty of “negligence”, remains at IMF
French court finds IMF managing director Lagarde guilty of “negligence in dealing with public funds” when she was finance minister in 2008, however no fine or sentence was imposed.
Finance
News
Doubts persist over IMF participation in new Greek programme
IMF claims it is does not advocate austerity as Greek finance minister accuses IMF of economising with the truth and pushing harmful and counterproductive reforms.
Conditionality
Analysis
IMF “rebuked” over role in Troika and its lending to Greece, Ireland and Portugal
IMF’s Independent Evaluation Office has found the Fund’s 2010/2011 Troika lending to Greece, Ireland and Portugal fell short in terms of surveillance, design, implementation and decision making, and described controversial decisions as appearing “rubber-stamped”.
IFI governance
Background
UK civil society meeting with DFID: Annual meetings and IDA
Notes of a UK CSO meeting with DFID on the annual meetings and the IDA process 23 September 2016.
IFI governance
News
IMF’s Lagarde to face trial in France
IMF’s managing director lost a July appeal to avoid trial in France over negligence while French finance minister.
IFI governance
Analysis
One man, one vote, one option: World Bank set to coronate Kim for second term
The World Bank is set to reappoint president Jim Yong Kim for another five year term, despite persistent concerns from Bank staff and renewed calls for a merit-based process based on principles of transparency and diversity.
Finance
Analysis
Public-private partnerships: The global debt iceberg?
Despite their popularity, PPPs have a very bad track record of delivering cost-effective investment for governments, and pose additional and serious problems by reducing transparency and accountability.
IFI governance
Background
UK civil society meeting with UK World Bank Executive Director Melanie Robinson
Notes of a meeting with UK World Bank Executive Director Melanie Robinson 21 July 2016.
Finance
News
Third time a charm? Fund pressured into possible return to Greece
As Eurozone countries agree a new loan package to Greece, the IMF has conceded to ‘major concessions’ instead of up front debt relief and may participate in a new programme despite its insistence that the Fund's involvement in future programmes is dependent on ‘significant debt relief’.