Mr Jagdeo, Guayanese Finance Minister, has attacked the IMF for its lack of commitment to debt reduction and using the HIPC Initiative as a means of forcing countries to comply with ESAF programmes.
Finance
Finance
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IMF Articles change on hold
Action to change the IMF’s Articles of Agreement to extend the Fund’s purview to cover capital account liberalisation has been put on hold since the financial crisis.
Finance
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Citizens groups set out 6 point alternative plan
Leading non-governmental thinkers and advocates met in Ottawa in parallel with the Commonwealth Finance Ministers’ meeting to discuss financial crises and the needs of the world’s most vulnerable and poorest people.
Finance
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Scaffolding for global architecture
In late October the G7 took limited steps to strengthen the international financial architecture, after the World Bank-IMF annual meetings ended with a plethora of proposals but no substantive agreement.
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“New debt crisis”
Investors’ growing aversion to risk is leading to a general withdrawal of finance from many Southern countries.
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IMF hints at U-turn on capital controls
There are signs that the IMF may be reconsidering its stance that all capital flows are harmful.
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Loan costs set to rise
Borrowers from the International Bank for Reconstruction and Development (IBRD), the main World Bank lending arm, may have to pay higher charges for their loans in the future.
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UK pushing controversial new IMF powers
The UK government is leading the effort to enable the IMF to pursue capital account liberalisation (CAL) in its member countries.
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J2000 mobilise 70,000
An estimated 70,000 people demonstrated in Birmingham to call on G8 leaders to cancel poor countries’ unpayable debts.
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Preventing private sector debt crises
In addition to extending the IMF’s role, its governors have been examining measures to prevent future financial sector crises.
Featured briefings
19 July 2023
The Bretton Woods Observer: Summer 2023
3 July 2023
Civil Society calls for rethink of World Bank’s ‘evolution roadmap’ as part of wider reforms to highly unequal global financial architecture
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.
6 April 2023