A quarterly critical review of developments at the World Bank and IMF

Autumn 2022
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Past Issues

Finance

Analysis

G20 review calls for increased MDB lending as World Bank ignores urgent need for policy changes

4 October 2022

G20 independent review calls for increased lending by multilateral development banks to address multiple crises, but lack of reform in World Bank crises response framework raises concerns about how it would use additional resources.

Finance

Analysis

Monetary power and sovereign debt crises: The renewed case for a sovereign debt restructuring mechanism

The sovereign debt crises threatening states in the Global South are less about fiscal mismanagement and more about monetary power in the global currency hierarchy.

Finance

Analysis

IMF debt sustainability analysis in times of compounding crises: Still unfit for purpose

New IMF debt sustainability framework fails to alleviate concerns over transparency and overoptimism in midst of large-scale debt crisis, as countries face severe austerity and private lenders wait for bailouts.

Finance

Commentary

Quota reform needed at IMF in order to address 21st century challenges

As economic conditions worsen and the Fund's legitimacy comes under increasing pressure, IMF leaders gathering for the Annual Meetings must make progress on ongoing review of IMF quotas and agree a more equitable formula and distribution of voting power.

Environment

Analysis

World Bank’s failure to disclose details of climate finance accounting opens its claim to be leading green financier to scrutiny

Newly released study by Oxfam finds that the Bank’s claims of climate finance for FY2020 could be off by as much as 40 per cent, or $7 billion, highlighting the urgent need for greater public disclosure.

Environment

News

IMF seeks to ‘unleash’ private climate finance, as experts question ‘de-risking state’ model

In the face of growing calls to ‘de-risk’ green investments for the private sector, academic experts call for developmental allocative green credit regimes, rather than market-led approaches.

Environment

News

Pakistan calls for climate reparations, as CSOs push for fresh SDR allocation to ease multiple crises

Non-debt forms of financing essential, as many countries on front line of climate change face ‘polycrisis’ that threatens macroeconomic stability.

Social services

News

World Bank issues new guidance on PPPs legal frameworks, ignoring long-standing concerns with the model

New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.

Accountability

News

World Bank’s accountability mechanisms - still a long way to go

57 CSOs highlight need for operational changes in the World Bank’s new accountability scheme to ensure its effectiveness.

A quarterly critical review of developments at the World Bank and IMF

Finance

Analysis

G20 review calls for increased MDB lending as World Bank ignores urgent need for policy changes

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