Bretton Woods
Update 29
Counting the poor: do the poor count?
Is the world “on the right track” in terms of poverty reduction? The World Bank…
Bank declaration of human rights
The World Bank president has asked his staff to prepare a human rights strategy, ending a long-standing aversion to engaging in the debate. But how far can the Bank go when its board and legal staff are urging extreme caution?
Bank not responsible for “evident harm”
A Papuan NGO, the Center for Environmental Law and Community Rights, attempted to halt the release of a $17 million World Bank loan, claiming that the PNG government had failed to stop illegal logging and road construction, and that the Bank had failed to supervise compliance with the conditionalities.
IMF chides former WB Chief Economist
At the launch of the new book of former WB Chief Economist Joseph Stiglitz, Globalization and Its Discontents, IMF Director of Research, Ken Rogoff lashes out.
Rebranding adjustment: the World Bank and “development policy support lending”
The World Bank has issued a discussion paper for consultation before revising its operational directive on adjustment lending. Concerns over changes to the ceiling on policy-based lending and a shift towards less mandatory directives, as well as the conultation process itself, have been raised by NGOs.
IMF fiddles while Argentina burns
A synthesis of the last two months in the ongoing negotiations between the IMF and the Argentine government.
IMF boss grilled by British MPs
On 4 July, IMF chief Horst K
ILO Africa Director rebukes WB and IMF
Africa Regional Director for the ILO, Regina Amadi-Njoku, at a trade union conference in Nairobi, said globalisation was responsible for the decline of Africa’s status in the global economy.
BP mega oil project may get “big bucks” from WB
Despite threats to the environment and fears of over-dependence on oil market vagaries, BP may receive as much as $500 million from the World Bank to build an 1,100 mile trans-Caucasus pipeline.
ABCDcEnsure
A study arguing against a link between terrorism and poverty was pulled at the last minute from the agenda of the Annual Bank Conference on Development Economics in response to complaints from a Kuwaiti Executive Director.
WB, parliamentarians meet in Switzerland
Around two hundred parliamentarians from Europe, Asia and Africa gathered in Switzerland.
Finance issues key to sustainability summit success
After a preparatory conference in Bali cast doubt over what will be achieved at the World Summit on Sustainable Development in Johannesburg in August, Third World Network is calling on groups working on debt, trade and finance to monitor the WSSD process.
Bank pilots new disclosure initiative
Some 17 countries are about to embark on pilot programs with the World Bank in which they will disclose and disseminate more information than they have in the past – more than Bank policy requires.
NGOs criticise the Bank’s water strategy
The Bank’s draft Water Resources Sector Strategy has been faulted by critics for distorting the findings of the World Commission on Dams, continuing to support high-cost megaprojects and emphasizing privatisation.
Bank’s pledge to fight corruption put to test
Allegations of corruption made against Bank-backed projects in Lesotho, Uganda and Kenya have raised questions about the Bank’s recent anti-corruption crusade. A report from Mozambique complains that the Bank is rewarding “good performance” by allowing corruption.
Forest Policy “fails to address deforestation”
NGOs working on forest issues have charged that the Bank’s revised draft Forest Strategy ignores advice given by both civil society and the Bank’s own Technical Advisory Group.
IDA grants-loans controversy ends
A deal between the US and Europe means that 18 to 21 per cent of the World Bank’s International Development Association aid will now come in the form of grants rather than loans.
G8: “Absolutely zilch” for Africa
Civil society organizations were disappointed by the outcome of talks at the G8 summit in Canada on an Africa Action Plan, HIPC and education.
Globalisation network’s democratic alternatives
The International Forum on Globalisation, a network of activists and intellectuals from around the world, has published a new report.
EU should hand over education funds to WB
The GCE held a meeting 29 May in Brussels on the role of the EU in delivering the international education goals, bringing together Education Ministers from Niger, Guatemala and Bangladesh, civil society representatives and donors.
Book gives platform to activists
A new book sets out the demands and analytical positions of many of the protesters against economic globalisation.
Bank launches trade tome
The release of Development, Trade and the WTO: A Handbook signals the World Bank’s rapidly increasing involvement in trade issues, triggering fears that its policy biases will gain too influential a foothold.
WB municipal mission creep
The World Bank is linking staff at municipal governments in a dozen cities in Central America and the Caribbean.
Ugandan MP denounces Bank/Fund prescriptions
Ugandan MP Sheila Mishembi Kawamara, at a 5 June meeting of East African legislative members, said that countries such as China, Mauritius, Vietnam and Thailand had refused to take World Bank and IMF prescriptions and their economies were thriving.
Empowerment sourcebook
The Bank has recently begun to recognise evidence of links between peoples’ empowerment, growth and improved project performance.
Indonesian MPs: write-off IMF loans
One hundred members of the Indonesian parliament wrote to the heads of the IMF and World Bank, condemning the institutions for implementing “disastrous orthodox macroeconomic policies”.
Doubts strengthen on private power provision
Despite corporate scandals and increasing wariness of private investors of getting involved in power projects in developing countries, the Bank is tripling its funding of power projects. Two new reports from the Transnational Insitute and the World Resources Institute challenge the claims of the advocates of power liberalisation.
What was IMF role in Malawi famine?
The worst famine in fifty years has resulted in several thousand deaths in Malawi in early 2002.
10 Reasons to Abolish the IMF and World Bank
US campaign group Global Exchange has published a pamphlet setting out ten reasons why the IMF and World Bank should be closed down.