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Bretton Woods Update 15

  • Dec 1999
  • Past Issues

Infrastructure

News

Power company controversy after Orissa cyclone

15 December 1999

A major beneficiary of World Bank-backed power sector reforms in India is US-based multinational company AES.

Conditionality

News

UK ED quizzed on UK role in Bank and Fund

In October UK Executive Director Stephen Pickford was called before the Treasury and International Development Select Committees for questioning by MPs.

15 December 1999

Conditionality

News

IMF takes on poverty mandate

Important changes to the IMF’s remit in the poorest countries were announced at the IMF-WB Annual Meetings in September.

15 December 1999

Trade

News

IMF/WB/WTO: unholy trinity?

At the Seattle meeting of the World Trade Organisation (WTO) in late November, the World Bank confirmed that it will expand its work on trade.

15 December 1999

Finance

News

Ecological debt outweighs financial debt

The view that poor countries owe the rich millions of dollars in loan repayments is challenged by a Christian Aid report.

15 December 1999

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Advocacy Programs

  • Environmental advocacy
  • Financialisation & Human Rights Project
  • Gender Equality & Macroeconomics Project
  • Strengthening Accountability in the Global Economy Project

World Bank & IMF in the news

Conditionality

News

15 December 1999

IMF crisis conditions reviewed

A new review of IMF conditionality will assess the conditions applied to financial crisis countries, and recommend future approaches.

IFI governance

News

15 December 1999

Bank compliance with IDA conditions assessed

At the request of donor governments, the Bank’s Operations Evaluation Department will review the performance of the Bank’s IDA programme from 1994 to the present.

Accountability

News

15 December 1999

IMF halts Russia loans during Chechnya crisis

In December the IMF halted loans to Russia as the war in Chechnya reached crisis point.

IFI governance

News

15 December 1999

Camdessus quits IMF

Michel Camdessus, Managing Director of the IMF for nearly 13 years has announced his resignation.

IFI governance

News

15 December 1999

Gold tied to IMF evaluation

US congress has agreed a proposal to revalue IMF gold to fund the HIPC Debt Initiative on the condition that the money earned is not used to refinance ESAF (now renamed the Poverty Reduction and Growth Facility - PRGF).

Conditionality

News

15 December 1999

Southern organisations demand end to adjustment

Organizations and activists in more than 20 Southern countries have launched a campaign against the destructive lending policies of the World Bank.

Rights

News

15 December 1999

Bank adjustment directive under discussion

The World Bank is revising its Operational Directive for Structural Adjustment Lending.

Environment

News

15 December 1999

Bank’s new green indicator: “genuine nonsense”?

A new Bretton Woods Project report examines the World Bank’s new measure of national sustainability, genuine savings.

Land

News

15 December 1999

CASE prawn-farm study

The World Bank’s project to improve the integration of the environment in its Country Assistance Strategies has a component to examine decisions made in environmental management which have had significant negative or positive impacts on economic development.

Rights

News

15 December 1999

Indian tribals blockade World Bank Delhi office

In late November more than 300 people from mass and tribal organisations from the Indian state of Madya Pradesh, blockaded the World Bank office in Delhi.

Land

News

15 December 1999

Civil society assesses SAP record in Zimbabwe

In November 250 representatives of civil society met in Harare for the first Zimbabwe national forum of the joint NGO-WB SAPRI (Structural Adjustment Participatory Review Initiative).

Rights

News

15 December 1999

Bank to seek capital increase

It looks likely that the World Bank Group will seek a rare capital increase for its International Bank for Reconstruction and Development arm.

Finance

News

15 December 1999

Jubilee South summit

Jubilee 2000 representatives held a South-South Summit in South Africa in late November.

WB/IMF roles

News

15 December 1999

Demystifying the IMF

Friends of the Earth-US has produced a handbook on the IMF.

WB/IMF roles

News

15 December 1999

G20 financial group named

A new brick in the financial architecture has been put in place with the disclosure of the members of the group of 20 globally important financial nations, known as the G20.

IFI governance

News

15 December 1999

Strategic Compact reform funding to end

The extra funding released to restructure the Bank under President Wolfensohn’s “Strategic Compact” reform initiative will run out in March 2000.

Accountability

News

15 December 1999

IMF-WB corruption roles investigated

A new report from Christian Aid investigates how the policies of northern donors and international financial institutions encourage corrupt practices in developing countries.

Social services

News

15 December 1999

Population project fraud

A December, 1999 study by Dr. Vineeta Gupta of Insaaf International alleges serious malpractice in the World Bank’s Reproductive and Child Health Project in Punjab, India.

Land

News

15 December 1999

Swiss delegation to Brazil

In late November a delegation of Swiss NGOs, parliamentarians and senior aid officials travelled to Brazil to examine recent World Bank lending to that country.

IFI governance

News

15 December 1999

Bank private sector strategy

In September the World Bank produced a new private sector development strategy.

News

15 December 1999

Cambridge to London office

Sarah Cambridge has joined the World Bank’s London office to manage the outreach programme in the UK and Ireland.

Infrastructure

News

15 December 1999

Thai dam compensation demanded

The World Bank should compensate communities affected by the Pak Mun Dam in Thailand, argues a new report by International Rivers Network.

IFI governance

News

15 December 1999

World Bank operations in China, Pakistan examined

In November the Bretton Woods Project filed a submission to the International Development Committee inquiry into British aid to China and Pakistan.

IFI governance

News

15 December 1999

“Knowledge Bank” breaks new ground

The World Bank was a leading organiser of a conference in early December which convened 400 researchers and heads of development think tanks to discuss ways to generate and share research to shape policies.

Infrastructure

News

15 December 1999

TOP SECRET: Bank strategy on Asian private infrastructure

The impact of the East Asia crisis on private infrastructure projects has been comparatively little discussed.

Infrastructure

News

15 December 1999

Bank to review India power sector reforms

The World Bank is planning an independent review of its power sector reforms in India.

Finance

News

15 December 1999

IMF and WB to assess financial stability

The Bank and IMF have established the Financial Sector Assessment Programme (FSAP) to assess financial stability in all member countries and prevent crises.

Finance

News

15 December 1999

Capital punishment

A new report from UK NGO CAFOD criticises the IMF response to the financial crisis as “inadequate and at times harmful to the interests of the poor” and urges “deep reforms”.

Environment

News

15 December 1999

Wanted: a new global monetary system

Debates on international finance are taken further in a new book which argues for the democratization of money creation and a new basis for the work of the IMF.

IFI governance

News

15 December 1999

Bank communication report

A Communications Strategy Needs Assessment was submitted to the World Bank’s NGO Unit in October.

Rights

News

15 December 1999

World Bank “coopted NGOs”

The Economist (11th December 1999) carried a lengthy article on NGO campaigning on international institutions.

Conditionality

News

15 December 1999

New participation study

The Institute of Developoment Studies is reviewing participatory approaches to formulating and monitoring poverty reduction strategies.

Infrastructure

News

15 December 1999

Chad Cameroon project faces further problems

The World Bank has again delayed a decision on the Chad-Cameroon oil pipeline after further criticism from NGOs in Chad, Cameroon, Europe and the USA.

Rights

News

15 December 1999

Useful web bulletins

Bretton Woods Updates are archived on the web. Enter topic names under site search to find articles from back issues, plus more links.

Rights

News

15 December 1999

Prague 2000

A small group of NGOs has begun to discuss common initiatives towards the World Bank/IMF annual meetings in Prague next September.

More news

Featured briefings

Wind Farm in desert near Hurghada, Egypt. Photo: MaguedM/Shutterstock
9 June 2025

New data reveal World Bank DPF ‘climate finance’ carries strong private sector bias, undermining a just transition

New BWP briefing finds the World Bank counted 70 per cent of energy-sector reforms in Development Policy Financing as having 'climate co-benefits' between 2018-2023 - but most of these promoted a private-led energy transition.

Cover of the Bretton Woods Observer Spring 2025
15 April 2025

The Bretton Woods Observer: Spring 2025

2 April 2025

World Bank and IMF Spring Meetings 2025

More briefings

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