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.
Tentative schedule of the World Bank-IMF spring meetings in Washington DC, from 21 to 26 September, 2011.
A report by the IMF’s arms-length evaluation body, the Independent Evaluation Office (IEO), suggests that Fund research does not allow room for alternative perspectives, while academics attack the World Bank for pursuing ideologically driven research agendas.
Over the summer the Independent Evaluation Office of the IMF released draft issues papers for two forthcoming evaluations.
On the 40th anniversary of US default on its gold convertibility obligation, decreasing confidence in the dollar has strengthened calls to reform the international monetary system. The IMF is accused of ignoring inequities at the core of the system, while developing countries are increasingly seeking alternative regional arrangements.
With the new IMF head and a Bank’s managing director under judicial investigation, questions continue to be asked about IFI governance, while implementation of existing reforms remains slow.
In early July, thousands of protesters took to the streets in the Ukrainian capital Kiev to try to block pension reforms promised as part of the country's IMF loan.
An August IMF working paper by John Brondolo takes the IMF into new territory, giving detailed information on how a financial transaction tax (FTT) could be implemented.
While South Sudan achieved formal independence in early July, it was not until late July that full agreement was reached that left South Sudan with no debt, apportioning all existing debts, including significant arrears to the IMF and World Bank, to Sudan alone.
NGOs ActionAid and Eurodad published in July a review of IFIs' approach to taxation.
In late June the Egyptian Ministry of Finance turned down a $3 billion loan package from the IMF, citing the rejection as a response to "public debate".
In late July, a US House of Representatives sub committee, now controlled by the Republican party, moved to slash funding to multilateral institutions.
