Bretton Woods
Update 57
El Banco Mundial y el Gasoducto de África Occidental
Análisis crítico sobre el gasoducto de África Occidental, un proyecto apoyado por el Banco Mundial.
Programme conditions, project safeguards: Quo vadis World Bank?
This briefing clarifies the landscape of programme conditions and project safeguards and what it implies for a move towards responsible lending standards.
IMF surveillance role: fundamentally misaligned?
Shortly after IMF members agreed to a new bilateral surveillance framework on exchange rates in June it was undermined by the US and criticised by civil society. Now the US wants the Fund to start regulating sovereign wealth funds.
IFC: ‘badges of excellence’, dubious practice
The IFC is scaling up its investment in high risk and low-income countries “as part of its development mission”, and is now on track to double financing for mining in Africa this year. However its attempts to position itself as an environmental and human rights ‘expert’ in these sectors lacks credibility.
Competing to ‘light up’ Africa
The Bank’s latest carbon reduction credentials are offset against the institution’s continued funding for large-scale, grid-based energy sector loans.
The World Bank and financial sector reform
Financial sector reform constitutes a major area of work for the World Bank.
What will Zoellick’s World Bank look like?
With an increasing number of commentators asking whether and how the World Bank can remain relevant, chief economist Francois Bourguignon unveiled a draft overview of a ‘long-term strategic exercise’, and the IEG released an evaluation of the Bank’s work in middle-income countries.
Questioning the IFC’s impact “without embarrassment”
In August, the World Bank’s Independent Evaluation Group (IEG) released its evaluation of the development results of the International Finance Corporation (IFC), finding that of the 627 projects surveyed, 59 per cent are claimed to have achieved a high development rating.
New IMF head, same legitimacy problem
French socialist Dominique Strauss-Kahn has been selected to take over as the managing director of the IMF, but he comes in on a wave of displeasure with both the undemocratic system that selected him and the strategic direction of the Fund.
Deforestation and double standards
As the Bank prepares to launch its Forest Carbon Partnership Facility forestry experts fear that this framework will benefit industrial scale logging.
The World Bank and the West Africa Gas Pipeline Project
A critical analysis of the the World Bank-supported West Africa Gas pipeline, by Michael Karipko of Environmental Rights Action, Port Harcourt, Nigeria
World Bank breaks silence on odious debt
The World Bank released a paper on ‘odious debt’ in September following months of silence, adding to a growing number of initiatives examining the concept.
What steps will the World Bank take to combat corruption?
With the release of an action plan for tackling corruption and an independent review of the anti-corruption unit, the issue remains high on the World Bank’s agenda.
Gender practice fails to live up to commitments
US NGO Gender Action has published three papers illustrating the gulf between the IFIs’ stated commitment to gender equality and the actual gender dimension of their investments.
Yet another European for senior post at IMF
In early October Italian Economy Minister Tommaso Padoa-Schioppa was selected to be the next chair of the powerful International Monetary and Finance Committee (IMFC), marking the second European in a week to be chosen for a important position at the IMF.
Fund loosens the aid noose … but just a little
After reviews of its engagement with low-income members the IMF is in the process of redesigning its programmes, but its recent changes on dealing with aid inflows have not satisfied critics of the Fund’s inflexibility in allowing the scaling up of social spending.
Reuniones anuales 2007 del Banco y el Fondo
Los miembros del personal del Banco y del Fondo, los miembros de las Juntas, y los Ministros de Desarrollo y de Finanzas estarán en Washington para las reuniones anuales del 19 al 22 de octubre.
PNoWB selects new chair
The board of the Parliamentary Network on the World Bank met in France in June to elect their new chair, Betty McCollum, Democratic Congresswoman from the United States.
Bank takes on illicit flows
Together with the UN, the Bank has backed the Stolen Asset Recovery initiative to recoup the assets stolen from developing countries, estimated at up to $1.6 billion per year.
Italian Senate passes IFI oversight act
An act of the Italian Senate on participation in replenishment of international funds and banks, approved by the Foreign Affairs Committee in July, commits the government review to credit mechanisms to include indicators of a country’s capacity to achieve the MDGs, end support for water privatisation, advocate an end for fossil fuel support, and report…
Activists torpedo IMF deal in Bangladesh
Bangladesh’s caretaker government, which has been in power since a political crisis over elections in late 2006, has faced controversy over its negotiations with the IMF for a new programme following the end of Bangladesh’s PRGF in June.
Bank re-engages in Indian dams
In September the Bank approved a $00 million loan for the 412 megawatt Rampur dam
Ecuador turfs out IMF representative
Following its expulsion of the World Bank’s country representative, Ecuador has now thrown the IMF’s resident representative out of the offices of the Central Bank.
IMF plans to convince not listen
The IMF approved a new communications strategy in June which will guide the Fund’s public face for the next several years.
World Bank-IMF annual meetings 2007
Members of staff of the Bank and Fund, board members, development and finance ministers will be in Washington for the annual meetings, 19 – 22 October.
Gold mining undermines rights in Mali
A report by French NGO FIDH looks at the negative impact of gold mining on the prorection of human rights in Mali
‘Doing Business’ eliminates workers’ protection
In September the Bank released its Doing Business Indicators for 2007.
World Bank YouTubed
First it was games to privatise cement factories, then it was Japanese-style animation. Now in its latest attempt to be down with the kids, the Bank has made its debut on YouTube.
Ghana Inspection Panel request
COHRE has filed a complaint to the Inspection Panel.
Parliament in dark over bank privatisation
The Egyptian government is facing criticism from MPs over plans to sell off the country’s publicly owned banks, as part of an $8.7 billion financial sector reform programme that has the backing of the World Bank, the IMF, the AfDB and USAID.
New staff at Inspection Panel
In September Roberto Lenton of Argentina started at the Inspection Panel
Turkish bankers, unions question need for IMF
The governor of the Turkish central bank, Durmuş Yılmaz, cast doubt on whether Turkey would renew its arrangement with the IMF.