20 June 2014
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
New analysis reveals the IMF’s increasing use of controversial conditions attached to loans.
IFC criticised over Tata Mundra coal power plant in India, for ignoring recommendations from its accountability mechanism.
World Bank continues to strongly back REDD+ forest projects, which have been criticised for not consulting indigenous peoples or respecting land rights.
Civil society groups criticise IFC investments worth hundreds of millions of dollars in mining projects in Guinea, Mongolia and Armenia for potential negative social and environment impact.
The Bank has produced mixed results on reproductive health; it is imperative that as the post 2015 agenda is set, it maintains the funding and political profile of this hugely impactful public health issue.
The IMF’s provision of an exceptional access loan to Ukraine was presented as vital economic support, but many commentators fear that this loan is driven as much by political as economic necessity. Despite emphasising increased sensitivity to country circumstances, Fund policy recommendations in Egypt are very similar to its prescriptions for Ukraine.
World Bank publishes minor changes to its Doing Business report, addressing only one of the criticisms of an independent panel review while activists continue to highlight the damage done by the rankings.
Fierce debate in Ghana over whether to turn to the IMF for support, as its economic growth and debt profile come under pressure. IMF warns on risks to Ghana’s “transformation agenda” and whole region’s debt levels and growth
In response to the IFC’s shaming over its involvement with Dinant corporation in Honduras, the institution produced a “lessons learned” document. However, it has been rejected by campaigners, who are demanding more fundamental reform.
The IMF rings more warnings about the costs of having an oversized financial sector, but fails to recommend stronger controls on the banking sector.
Every year the IMF produces numerous publications, however, there is ambiguity concerning the extent Fund documents are representative of the IMF’s institutional views or dictate how the IMF is supposed to execute policy.
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.
