Bretton Woods
Update 30
World Bank pushed to open up Bolivia water arbitration
The International Center for the Settlement of Investment Disputes, an independent part of the World Bank Group, is set to begin hearings on a Bank-backed water privatisation deal in which Bechtel took over the public water company in Bolivia’s third largest city, Cochabamba.
The IMF in Latin America: tough cop, social worker or skunk?
Three recent papers which attempt to analyse the IMF’s role in the Argentinean crisis are examined: ex-IMF senior economist Michael Mussa, the Center for Global Development’s Nancy Birdsall and Mark Weisbrot of the Center for Economic and Policy Research.
World Bank questions ethics of World Summit report response
At the launch of its World Development Report 2003, the Bank was angered by the distribution of a joint Heinrich Boell-Bretton Woods Project briefing which assembled critiques of the WDR by academics and activists.
UN report urges greater IMF and WB accountability
The United Nations Development Programme’s Human Development Report 2002 has called for more democracy and accountability of international financial institutions.
Turkish oil project raises human rights, governance concerns
An agreement between oil multinationals and the government of Turkey for an IFC-backed pipeline exempts the companies from obligations under Turkish law that may threaten the project’s profits, including environmental, social and human rights legislation.
New report queries World Bank influence over PRSP analysis
The World Bank plays a powerful role in determining the policies chosen by PRSP countries. A new report provides a critical assessment of the current moves to introduce Poverty and Social Impact Analysis (PSIA), and recommends taking further action to break the Bank’s near monopoly on development analysis and control of policy formulation process.
Cornering the Market: The World Bank and trade capacity building
The Bank’s role in trade capacity building affords enormous influence over the hearts and minds of trade policy makers and the way in which trade is mainstreamed into national development plans. The initial experience of the Integrated Framework programme shows that there is reason for concern. (September 2002)
Sri Lanka rushing reforms to please IMF, WB
Sri Lanka has launched a “fast-track” legislative process to intensify economic and social reforms, in order to secure new IMF and World Bank loans.
Bank announces biotech food review
The World Bank’s announcement of a review of genetically-modified crops in Johannesburg met with mixed response – from pledges not to participate to a cautious welcome.
IFI role in Southern Africa famine condemned
A new study from Oxfam questions why, after years of World Bank and IMF-designed agricultural sector reforms, Malawi, Zambia, and Mozambique face chronic food insecurity.
Commissioners urge better water strategy
The twelve prominent individuals who served as commissioners on the World Commission on Dams have written to the World Bank President demanding that he do more to implement their recommendations.
HIPC debt relief still failing
A leaked IMF and World Bank report confirms the HIPC initiative is not delivering.
New book: reinventing the World Bank
Attacked by the Right as the last bastion of socialism and by the Left as an instrument of economic imperialism, the Bank has struggled to adapt to a changing post-Cold War era.
Structural Adjustment: another flawed process?
The World Bank has issued a discussion paper for consultation before revising its operational directive on adjustment lending. On 18 July 2002 London was the first in a series of cities to host a consultation meeting. NGOs have raised concerns about the consultation process and the ability of the World Bank to learn lessons from…
Opposing PVC, opposing IFC
The IFC is considering a US$20 million funding proposal for a polyvinyl chloride (PVC) plant in an industrial estate in Cuddalore, Tamil Nadu.
New IMF evaluation report
The IMF’s Independent Evaluation Office has completed its first study.
Krueger sets out IMF latest on debt arbitration
IMF number two Anne Kreuger favours a so-called “institutional approach” for debt restructuring which involves establishing a Dispute Resolution Forum to bring all stakeholders together.
Global finance hurts the poor
A new report by Oxfam America analyses the impact of North-South private capital flows on growth, inequality and poverty.
Active Bankwatchers Campaign
CEE Bankwatch, a network of environmental NGOs in central and eastern Europe and the Community of Independent States, is launching a grassroots campaign network in time for the Annual Meetings.
Bank “cornering market” in trade capacity building
The Bank’s role in trade capacity building affords enormous influence over the hearts and minds of trade policy makers and the way in which trade is mainstreamed into national development plans. The initial experience of the Integrated Framework programme shows that there is reason for concern.
Africans challenge monopoly on policies
Activists from Eastern and Southern Africa gathered in Nairobi early August to discuss a civil society Economic Policy Project launched by MWENGO, a reflection and development centre for NGOs in the region.
Bank researcher rejects trade openness orthodoxy
Bank development economist, Branko Milanovic, has released papers which contradict the Bank line on trade: the first rejects Bank dogma linking trade openness and poverty reduction; the second argues that increased openness leads to greater income inequality in poor countries.
Report on Global Environmental Facility
Environmental Defense and Halifax Initiative have collaborated on a critique of the first ten years of the Global Environmental Facility.
World Bank pushed to open up TNC arbitration process
NGOs protest “secret court” to decide on Bolivia water privatisation follow-up.
The World Bank at the World Summit: Green, Marxist or unchanged?
The World Bank has been very active at the Johannesburg summit.
New website on IFI transparency
A new website has been established on freedom of information issues including a section with news and links on transparency policies and practices of international institutions.
2002 Update survey results: call for southern voice
In Bretton Woods Update 28, we asked readers to evaluate the content, style and format of the Bretton Woods Update.
US NGO challenges Peru mine inspection process
Project Underground, a US NGO working on mining issues, has released a damning assessment of the way that the IFC’s Compliance Advisor/Ombudsman (CAO) has handled complaints about a mine in Peru.
Update on key World Bank policies
The World Bank is in the process of “reformatting” a wide range of its key safeguard policies.
Bank inspectors find fault with Chad Cameroon pipeline project
The Bank’s own Inspection Panel has backed many of the complaints by non-governmental organizations about a major oil pipeline in West Africa.
Blinding with Science or encouraging debate?
This report examines the powerful roles of the World Bank in determining the policies chosen by PRSP countries. It provides a critical assessment of the current moves to introduce Poverty and Social Impact Analysis (PSIA), and recommends taking further action to break the Bank’s near monopoly on development analysis and control of policy formulation process.