Bretton Woods
Update 51
Malaria experts say World Bank published false statistics, approved deadly treatments
A group of public health experts has called for an independent investigation into the World Bank’s publication of “false epidemiological statistics”, approval of “obsolete treatments” for a deadly strain of malaria, and failure to uphold its pledges for funding malaria control.
Evaluation finds Bank’s disaster work reactive, lacks strategy
The Independent Evaluation Group published an evaluation of World Bank assistance for natural disasters, finding that the Bank lacks a strategic approach to disasters, is failing to integrate disaster preparation in its lending, and lacks sufficient expertise or coordination mechanisms.
Righting the Bank’s agenda
The departing swansong of World Bank former legal counsel Roberto Da
Beware the big, bland wolf
What has most surprised World Bank watchers is how little Paul Wolfowitz has changed the institution he took over one year ago. On Africa, infrastructure, debt relief and the environment, he has stayed the course – for better or worse – set by his predecessor James Wolfensohn. On the high-profile issue of corruption, he has…
African EDs urge top-up for capacity building
As the pilot phase of the Analytical Trust Fund, which finances research to support Sub-Saharan African executive directors’ participation on the boards of the Bank and Fund, draws to a close, directors urge its replenishment.
Inflexibility on aid scale up haunts IMF fiscal conditions
The rigidity of Fund programmes is causing chafing at the collar in governments and civil society organisations in low-income countries, as the debate over the scaling up of aid rages.
One hand gives while the other takes: Nicaragua under IMF conditions
IMF conditionality undermines achievement of MDGs in Nicaragua
The World Bank and ageing
The who, what, where and how much of the World Bank’s work with the aged and pension reform.
Evaluation echoes civil society critique of World Bank-IMF debt relief efforts
An evaluation of the Heavily Indebted Poor Countries (HIPC) initiative by the Bank’s Independent Evaluation Group released in April begs the question what next for debt relief efforts.
‘Cleaning’ energy
Environment and development groups have slated the World Bank’s ‘Clean energy and development: towards an investment framework’ for its perverse definition of clean energy, letting Northern polluters off the hook and neglecting the needs of the rural poor.
Bank stumped on Uruguayan paper mills
The IFC and MIGA have been unable to manage the international dispute created by their proposed investment in two pulp and paper mills in Uruguay, and show no signs of setting a board date for considering Bank support.
Inspection Panel condemns Bank forestry project in Cambodia
A leaked Inspection Panel report heavily criticises a Bank’s forestry management project in Cambodia.
Internal financial crisis at the IMF
The impetus for the IMF strategic review has come as much from pressure to reform the institution as from a crisis in its finances. After Brazil and Argentina’s early repayments, Indonesia, currently the second largest debtor to the Fund with nearly $8 billion outstanding, has promised to repay this year.
Barrage of criticism over IFC safeguards review
A number of new reports have come out in criticism of the IFC’s recent revision of its lending standards.
IMF strategic review: too little, too late?
The managing director’s report on the medium-term strategic review released at the spring meetings was short on specific proposals for reform implementation and lacked commitments for improved democratic functioning or strengthened surveillance of large industrial countries.
Bank cooks up growth study
At the spring meetings in April the Bank released a paper on fiscal policy for growth, and announced the creation of an independent commission on growth. However, the composition of the commission suggests that its purpose is to shore up the widening cracks in the Washington consensus, rather than explore new thinking.
Parlamento del Reino Unido reflexiona sobre el papel del FMI
El Comité Selecto de la Tesorería (The Treasury Select Committee), el cual sirve como el mecanismo parlamentario de rendición de cuentas para la Tesorería del Reino Unido y sus interacciones con el FMI, ha tomado evidencia de ONGs, del Gobernador Mervyn King y del Canciller Gordon Brown sobre el papel del FMI en la economía…
Request for inspection of West Africa gas pipeline
In April, the Ifesowapo Host Communities Forum in Nigeria requested the Inspection Panel investigate the West African Gas Pipeline project.
External review of IFI collaboration slow to start
The external review of Bank-Fund collaboration, announced at the end of March is only now getting off the ground.
Wolfowitz announces new managing directors
President Wolfowitz appointed Graeme Wheeler and Juan Jose Daboub to managing director positions in April.
IMF multilateral surveillance lacks focus
The Independent Evaluation Office report on the Fund’s multilateral surveillance concluded that the Fund’s activities lacked focus and did not pay enough attention to analysing cross-border spillovers.
Donors fail to ante up for Bank bird flu efforts
According to a June Bank report, a mere $286 million out of the originally pledged $1.9 billion has been committed for avian flu preparedness.
Uninspiring choice for IMF deputy director
Rodrigo de Rato missed a chance to move the Fund away from its lack of transparency in management selection when he nominated US banker John Lipsky as his new deputy managing director.
African film puts IFIs on trial at Cannes
The only African film to show at the 2006 Cannes film festival, Bamako, focuses on the injustices Africa has faced at the hands of the World Bank, the IMF, and other Western-dominated institutions.
World Bank to ditch enviromental unit?
Rumours are circulating in Washington that a planned re-organisation of the Bank may spell the end for the Bank’s environmental unit.
Peter Chowla joins BWP team
Peter Chowla joined the Bretton Woods Project team in May in the role of policy and advocacy officer.
Call for global actions against the IFIs
Global call for action issued against the IFIs.
Co-op Bank ditches IFC bonds over renewables
The UK’s Co-operative Bank announced in April that it will not hold investments in the IFC because of its contribution to climate change.
Bank staffer slams funding for technical assistance
Buried in the text of the 2006 Global Monitoring Report, a Bank-Fund document to examine progress towards the MDGs, it suggests that technical cooperation funding not be tied to the countries giving the money.