Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.
The Bretton Woods Project is a civil society watchdog of the IMF and World Bank. We advocate for a multilateral system that is democratic, inclusive, transparent, accountable, and responsive to people, especially the poorest and most vulnerable.
Latest from the Bretton Woods Project
IFI governance
Analysis
Wrap-up Annuals 2024: BWIs' reforms lack evidence and engagement with UN processes
IFI governance
Analysis
The World Bank’s new Corporate Scorecard misses the forest for the trees as it lacks an indicator to measure the Bank’s contribution to economic transformation, a cornerstone of its development mandate.
IFI governance
Analysis
World Bank Corporate Scorecard: omits key the development impact indicator
Finance
Analysis
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
Finance
Analysis
The lost call for international financial architecture reform in the G20
Private Sector
Commentary
IFC standards review must respond to UN’s call for rights-based transition mineral value chains
Amid escalating transition minerals mining, the expected 2025 review of IFC’s Performance Standards must result in a new approach.
IFI governance
Analysis
Development Committee chair’s statement analysis Annual Meetings 2024: compounding crises expose the World Bank’s role in structural failures but limit scope for reform
Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural failures.
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider failures
At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.
IFI governance
Analysis
G24 communiqué analysis Annual Meetings 2024: calls for robust multilateral response to mounting risk and global crises
G24 calls for robust multilateral response to debt, development and climate crises, arguing the IMF and World Bank must continue reform in order to maintain legitimacy and fulfil their mandate.
IFI governance
Analysis
IMFC chair’s statement analysis Annual Meetings 2024: a fiscal consolidation “pivot” as IMF struggles to get its house in order
Chair’s statement calls for a ‘pivot’ to fiscal consolidation and announces possible approaches to guide further quota realignment by June 2025. In contrast, China’s statement calls for work to begin on alignment even without resolution of 16th quota review.
Other news
Environment
News
BWP’s new briefing finds year one of World Bank’s Paris Agreement alignment in the energy sector deepened 'green conditionalities'
New BWP briefing on the World Bank’s Paris Agreement alignment in the energy sector finds that, in its first year, the focus was on deepening 'green conditionality' and structuring a private sector-led energy transition.
Finance
News
High stakes for December’s IDA21 pledging meeting
The replenishment process for IDA21 concludes in early December, amid hopes of a record replenishment and concerns over the global debt crisis.
IFI governance
News
CSOs call for mandatory and meaningful consultation at the IMF
Civil society organisations call for consultation on the design of policies that significantly impact states and citizens.
Finance
News
IMF surcharges review: tinkering at the margins as crises deepen?
IMF’s surcharges review is resorting to incremental changes by reviewing the level and time base of penalty charges, instead of achieving meaningful reform
Infrastructure
News
Banga calls energy access a ‘human right’ as he announces World Bank will provide access for 250 million people in Sub-Saharan Africa by 2030
Explicit mention of human rights obligations has long been a taboo subject at the World Bank.
Trade
News
Ecuador ratifies 2008 ban on investor-state dispute settlement mechanism
Ecuador referendum reinforces the country’s decision against a mechanism criticised for being asymmetric, unjust and detrimental to citizens’ rights.