Bretton Woods Observer
World Bank Group strategy: who benefits?
A new World Bank Group strategy will be signed off at the 2013 annual meetings. It prioritises greater use of the private sector and “transformational engagements”, but criticisms continue over the Bank’s desire to tell countries what to do.
Foreclosing the future
Drawing on case studies, reports and evaluations, Bruce Rich paints a picture of a Bank still inflicting suffering on vulnerable…
Alto Maipo endangers Santiago water supply
Chilean civil society groups demand that a controversial hydroelectric project, which is projected to have a negative impact on environment…
First ever real-terms drop in IDA agreed
As the negotiations on the 17th replenishment of the World Bank’s International Development Association (IDA) pass the half way mark,…
IMF & Troika: a big, fat Greek divorce?
The IMF’s involvement in the Troika is again being questioned due to Greek loan unsustainability and lack of consensus amongst the Troika members, while citizens continue to challenge the conditionality of the programme.
IMF forecasting models
Forecasting models are crucial to how the Fund performs its role as lender and global economic monitor, but the assumptions underpinning these models are frequently derided as unrealistic.
IMF gets emerging markets wrong, again
The Fund has had to conduct another embarrassing “U-turn” to warn of the growing risks to the stability of developing countries, while cautiously accepting the need for capital controls in principle, but not necessarily in practice.
World Bank to “lead the way” on infrastructure investment
World Bank president Jim Yong Kim reiterated the Bank’s intentions to develop a global infrastructure facility, while the G20 process on infrastructure continued to focus on PPPs. The G20 accountability report noted failure to address environmental safeguards, and criticism on privatisation in the energy sector was raised by PSIRU.
World Bank push for agribusiness in Africa
A World Bank report on land governance has been criticised by NGOs. Meanwhile the Bank pushed ahead with the Benchmarking the Business of Agriculture initiative despite civil society concerns.
World Bank energy directions: going for gas
The World Bank launched a new energy directions paper in July but continues to focus funding on fossil fuels such as natural gas
Inequality: IMF fails to listen to itself
While NGO Oxfam criticised the IMF for failing to learn lessons of the past in its approach to European austerity, IMF research on inequality produced findings opposite to IMF programme demands for borrowers.
A bad business: Bank divisions on Doing Business revealed
Newly emerged internal documents from the World Banks’ own legal unit reveal strong criticism of the controversial Doing Business rankings following the independent review panel’s critical final report in June.
Update on the World Bank safeguards review
A July presentation on the safeguards review included parts of a proposed integrated framework and next steps. A July report by Human Rights Watch called on the Bank to ensure it does not contribute to human rights abuses.
UK Multilateral Aid Review update reveals limited progress at the World Bank
The July 2013 Multilateral Aid Review reveals concerns regarding the International Development Association and the International Finance Corporation
Financial transactions tax: IMF at odds with Europe
The IMF has put itself out of step with Europe on the issue of financial transaction taxes.
IMF transparency “still falls short”
In July the IMF board approved a review of the Fund’s transparency policy. Despite staff finding further room for improvement, the board rejected any substantive changes to the policy.
IFC denies financial involvement in Honduran dam
The IFC is denying involvement in the controversial Agua Zarca hydroelectric project, which is vigorously opposed by local groups; an activist was killed by the army in July.
