Bretton Woods Observer
World Bank and IMF influence casts shadow over South Africa’s Just Energy Transition Partnership
World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
IMF quota review: Putting climate at the core of IMF governance reform
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
Bridgetown Initiative calls for new Global Climate Mitigation Trust financed via Special Drawing Rights
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust…
New IMF gender strategy’s potential to catalyse change undermined by austerity and problematic mission creep
IMF’s new gender mainstreaming strategy makes effort to include civil society demands but falls short of transformative vision as austerity…
World Bank’s update on Paris alignment fizzles at COP27 as countries demand MDBs evolve to face climate emergency
Despite continued public rhetoric about importance of civil society engagement, Bank is yet to commit to holding a public consultation period on its Paris alignment approach.
World Bank’s definition of ‘universal’ social protection – another buzzword?
World Bank’s newly released Social Protection and Jobs Compass guidance note creates confusion over the Bank’s definition of ‘universal’ social protection.
Unbalanced financial stimulus followed by fiscal austerity: When will the IMF learn from its mistakes?!
New reports by Financial Transparency Coalition and Eurodad highlight uneven distribution of Covid-19 stimulus spending followed by socially painful fiscal austerity.
A new SDR allocation: Combatting deepening fragility concerns
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
Debt overhang risks another lost decade and could derail progress on poverty reduction and SDGs
Over 60 per cent of low-income countries and more than 25 percent of emerging market economies are in or at risk of debt distress, and are in danger of being unable to fulfil their fiscal obligations.
UN letter of allegation outlines concerns about the impact of IMF surcharge policy on human rights
Civil society urges IMF to reply to UN letter and finally take action to review its surcharge policy.
Egypt reaches agreement for IMF programme, but proposals for debt relief are still lacking
Egypt’s new EFF program will likely deepen the country’s debt crisis, instead of helping improve its socioeconomic conditions.
Chad gets debt rescheduling, not relief, and is left dependent on oil revenues
Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.
IMF’s Independent Evaluation Office appoints new director and releases 2023 work plan
Changes in leadership have been announced at the WB Independent Evaluation Group and IMF Independent Evaluation Office. Furthermore, the IMF IEO published its 2023 Work plan introducing two new governance evaluations of the IMF’s mandate and its Exceptional Access Policy.
