Bretton Woods
Update 46
Which way the World Bank?
A report from the Bank’s evaluation department assessing its contribution to growth and poverty reduction has provoked renewed debates over what development means and what the Bank’s role in it should be. As Paul Wolfowitz begins his presidency, a dividing line is being drawn between advocates of economic growth driven by big infrastructure and those…
G8 cancellation of World Bank, IMF debt: “step forward”
Finance ministers of the world’s richest countries agreed to write off $40 to $55 billion of debts owed to the World Bank, IMF and African Development Bank. Statements on aid effectiveness and trade in the final communiqu
Fund legitimacy under question
A summary of IMF gold sale deadlock. A summary of the new Turkish loan agreement and Krueger’s comments on a flexible labour market. Re-emergence of the idea of an Asian Monetary Fund
From bad to worse: IFC safeguards
The serious inadequacies of the IFC’s environmental and social safeguards in light of a number of IFC-supported projects
Setbacks to privatisations across Africa
The collapse of a flagship water privatisation in Tanzania, and opposition to both a planned privatisation of the state cotton board and the completed privatisation of the state railway in Mali, highlight the continuing struggle over pressure from the Bretton Woods institutions to privatise in Africa.
Parliamentarians go to Washington to demand greater oversight
Parliamentarians from eight countries travelled to Washington for the Bank-Fund spring meetings to present the…
World Bank and civil society engagement: a new direction?
A civil society perspective on the World Bank global civil society forum and the future of civil society and World Bank engagement, by Moreblessings Chidaushe, Afrodad
Slow progress on World Bank’s oil, gas and mining commitments
Update on the World Bank Group’s progress on the management response to the Extractive Industries Review. Problems relating to the BTC pipeline on its inauguration. Summary of the book The risks we run, on political risk insurance and the mining industry.
IFIwatchnet moves to Montevideo
IFIwatchnet – formerly based at the Bretton Woods Project in London – has moved to the Instituto del Tercer Mundo (ITeM), in Uruguay, as part of a strategic plan to strengthen southern networks of IFIwatchers.
Evaluation of IMF and capital account liberalisation
A report by the IMF’s Independent Evaluation Office released in May concludes that the Fund’s “cheerleading” on capital account liberalisation in the early 90s was unbalanced and inconsistent.
Secretive World Bank tribunal confronts calls to open up
Civil society groups are backing official calls for reform of the World Bank’s International Centre for the Settlement of Investment Disputes – however, the future of the reforms looks uncertain due to resistance from developing countries.
World Bank breaks promises on forests
The Bank has failed to comply with its own operational policy on forests. An inspectional panel request was authorised by the Bank regarding a forest project in Cambodia. NGOs are disappointed at the Bank’s draft principles for a code of conduct for mangrove management
Bank blackball blunder
Two days after slapping a six-month ban on the Financial Times for giving away embargoed…
Ecuador stands ground
Ecuador’s new president has claimed he will not back down on oil revenues
IMF, Bank reviews of financial sector reform
A flurry of reviews of the BWIs work in financial sector reform kicked off in March with the Fund’s board review of the joint Bank-Fund financial sector assessment programme.
Research network on the World Bank
In April, a conference of doctoral students and senior researchers was held to reflect on the past operations, policies and programmes and future directions of the World Bank.
Bank research: no improvement in governance
World Bank researchers Kaufmann and Kraay have released the latest edition of their governance indicators, finding no improvement in global governance.
Wasn’t that a party…
The music at the farewell party for outgoing World Bank Kenya country representative Mukthar Diop…
Aid, death and dogma
A report released in May by UK NGO Christian Aid, documents case studies in India, Ghana and Jamaica where imposed liberalisation has ravaged local industry with devastating social impacts.