Bretton Woods
Update 56
World Bank’s carbon trading plans fail Africa
While the World Bank promotes the burgeoning carbon trading market as a “tool to help Africa’s poor”, an investigation has unearthed gross incompetence with the Clean Development Mechanism (CDM) in which the Bank is heavily involved. A report by Oxfam points out serious inadequacies with the Bank’s adaptation figures.
Defending sexual and reproductive health rights
Grace Karanja of the AMANITARE secretariat in Kenya comments on the battle to defend sexual and reproductive health rights in the Bank’s new health, population and nutrition strategy.
World Bank: avoiding deforestation but violating rights?
Alarm bells are being rung about ‘avoided deforestation’, the World Bank’s latest tool in the fight against climate change, while a Greenpeace report has heavily criticised the Bank’s failure to bring the Democratic Republic of Congo’s (DRC) logging industry under control.
Regional programmes do not address underlying reforms: evaluation
In April, the Independent Evaluation Group released its first-ever review of the Bank’s support for regional programmes, covering the period 1995 – 2005.
Heated exchanges over exchange rates
The IMF executive board agreed to revise the legal framework for bilateral surveillance in June with the final text incorporating many of the safeguards demanded by developing countries but still angering the Chinese.
Just say no
Member countries are increasingly rebuffing World Bank and IMF programmes, advice and even membership, with Latin American nations withdrawing from the Bank’s investment arbitration mechanism.
At the crossroads: Which way the World Bank’s transport strategy?
Following an IEG evaluation of the World Bank’s work in transport, and delays in the release of a new Bank transport strategy, Public World director Brendan Martin asks what the Bank has learned. With spending on transport likely to increase, what direction will the Bank’s transport projects take from here and who is in the…
Honest broker? The IFC, extractive industries and affected communities
The IFC is planning to double its mining investment in Africa and increase involvement in Southeast Asia, raising civil society concerns about the rights of affected communities.
The World Bank and energy
Information on the objectives, staffing, and volumes of the World Bank’s energy portfolio.
From Wolfowitz to Zoellick: an opportunity lost
The worst crisis faced by the World Bank in over 60 years brought business to a halt for over six weeks. What really happened, what unfinished business remains, and what lessons have been learned?
Bank and Fund undermining health, education spending
A high powered working group examining the IMF and health spending found that the Fund has unduly constrained counties’ policy choices, while other recent reports accuse the World Bank and the IMF of undermining quality education. Meanwhile, the Bank’s private sector arm has stepped up its support for private schooling in Africa.
Threats to withdraw from Bank’s investment tribunal
End April the leaders of Bolivia, Venezuela, and Nicaragua agreed to withdraw from the World Bank’s International Centre for the Settlement of Investment Disputes, a tribunal which rules on cases against governments brought by foreign investors.
Bank replicates past hydropower mistakes?
Concerns raised about the Nam Theun 2 dam in Lao PDR, the Bujagali dam in Uganda and the Inga dam in the Democratic Republic of the Congo (DRC) suggest that the Bank may be replicating past mistakes in the flagship projects of its new generation of ‘high-risk high-reward’ hydropower.
Bank’s agriculture, for development?
While a draft of the Bank’s World Development Report on agriculture has undergone two civil society consultations, the prospective message and details of the final report remain vague.
WAGP: delays, investigation
The construction of the controversial West Africa Gas Pipeline (WAGP) has been delayed by instability in the Niger delta.
World Bank manga
Teaming up with a leading manga publisher (for those of you not down with the youf, manga are Japanese-style graphic novels), the Bank has launched a new series of comic books, each highlighting a key development issue.
Chad-Cameroon non-completion
A report by NGOs in Chad, Cameroon and the US finds that the World Bank’s Implementation Completion Report (ICR) for the Chad-Cameroon pipeline is seriously at odds with the findings of official project monitors.
PPIAF on the ropes
The Public-Private Infrastructure Advisory Facility (PPIAF), a World Bank-administered body that advises countries on water privatisation projects, is facing renewed challenges.
Spanish parliamentary oversight of IFIs
On 30 May, the Spanish parliament approved a motion requiring the executive to report annually on Spanish positions adopted at the World Bank and IMF.
First class flights more important than voice at IMF
In Singapore a commitment was made to increase the number of advisor and senior advisor positions for the executive directors (ED) offices of large constituencies, mainly Africans. However, in April the board’s committee on administrative affairs, chaired by a European country, opposed giving more than one advisor-level post to the African groups.
IFIwatchnet relaunched
In May, IFIwatchnet, an online portal that connects organisations worldwide which are monitoring international financial institutions, relaunched with a new interface, a site redesign, and a wiki.
NGO launches parallel review of INT
In May, Paul Volcker announced the team that will review the operations of the Bank’s anti-corruption unit, while US NGO GAP announced a parallel review.
UK Treasury to focus on IMF surveillance
In its annual report to parliament about the UK and the IMF, the UK Treasury’s most ambitious goal for 2007 is a revision of the IMF’s surveillance framework.
Upcoming conferences and events
Upcoming conferences and events