Bretton Woods Observer
A proposal for Ajay: No evolution without remedy
While World Bank President declares the benefits of a “bigger and better” Bank, the scandal of alleged child sexual abuse and cover up relating to IFC investments in Bridge Academies demonstrates the urgent need for the Bank to establish a robust remedy framework.
Coal not yet confined to the “old days” by World Bank Group
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending…
Decolonising the global economic architecture: The prerequisite for a just transition
Global South faces severe structural deficiencies that weaken its economic sovereignty and put it at the mercy of a neo-colonial…
World Bank and IMF promoting private finance and fiscal consolidation despite mounting evidence of harmful impacts
Civil society research documents clear harms from privatisation and fiscal consolidation on public services and human rights, as Bank and…
UN Secretary General’s New Agenda for Peace calls for urgent financial architecture and policy reform
UN Secretary General’s New Agenda for Peace report identifies growing threats to global peace and stability, and proposes urgent reforms to the unjust economic system. World Bank and IMF resist policy and governance reform.
Selection of World Bank to host new Loss and Damage Fund draws ire of developing countries and civil society advocates
Developing countries insist on lengthy list of conditions as Bank is named host of new Loss and Damage Fund on interim basis.
Morocco and IMF Resilience and Sustainability Trust: Balancing debt, privatisation and neocolonial dynamics
Morocco’s $1.32 billion Resilience and Sustainability Trust loan comes with ‘green conditions’ which may facilitate neocolonial resource-grabbing and a European-led rush for ‘green’ hydrogen.
New data show Global South is in worst debt crisis ever, with another lost decade looming
Civil society alliances call to prioritise sustainability of life over debt, while IMF continues to insist situation is not “systemic”, in contrast to what the UN Secretary General has called a “systemic failure”.
The rise of bilateral currency swaps – a threat to the IMF?
Without reforming SDRs to boost reserves and stabilise economies, bilateral swaps will further reinforce the existing asymmetries of the international financial system.
A dizzying ride down the cascade of Bank and Fund double-speak in 2023
From the gentleman’s agreement and carbon taxes to B-Ready and the Evolution Roadmap Playbook, the BWIs took us for another ride down the cascade of buzzwords in 2023. Join the BWP gourmets in savouring the word salad.
Significant IDA21 replenishment required as need for concessional finance grows
Rich countries need to agree to an ambitious IDA21 replenishment to address compounding economic and liquidity crises, causing high levels of debt distress in low-income countries.
IFC trade finance continues to invest in fossil fuels, with no board oversight
New research by Urgewald finds that the World Bank Group invested an estimated $3.7 billion in oil and gas developments in 2022 via trade financing.
Civil society urges governments to agree on a UN tax body as a high priority
African Group’s proposal for a UN Tax Convention moves forward as CSOs keep pressure on rich countries not to block it.
New book addresses shortcomings of traditional approaches to debt and economics
New book details the gendered effects of austerity and argues that the human rights of people living in debt-distressed countries must take precedence over creditors’ financial interests.
