US Treasury Secretary Scott Bessent indicates US will stay in the Bank and Fund, claiming “America First does not mean America alone,” as tariffs and rising debt vulnerabilities prompt gloomy forecast.
Private Sector
Finance
Analysis
Civil society calls for FfD4 to revive 'spirit of Monterrey' and reassert UN's role in global economic governance
The role of Bretton Woods Institutions remains a key point of contention, amidst their stark governance deficits.
Finance
News
Private lenders’ resistance to Ethiopia's debt relief highlights urgent need for debt architecture reform
Ethiopia becomes the latest victim of the dysfunctional Common Framework, as private lenders continue to hold out on its debt restructuring with significant human rights, social and economic consequences.
Private Sector
Commentary
The B-Ready index: the World Bank’s bluewashing of labour rights
World Bank’s new Business-Ready (B-Ready) index offers new measures but reductionist approach, ultimately rewarding countries driving down labour rights in favour of business.
Rights
News
Communities demand justice as IFC fails to address coal financing fallout
IFC faces backlash for failing to address social and environmental harms from its financing of coal plants in the Philippines, despite proven health and environmental violations.
IFI governance
Analysis
Annual Meetings 2024 Wrap-up - Don’t look back: BWIs plough down path of reforms lacking evidence and willingness to engage with broader UN-led reform processes
The 2024 World Bank and IMF Annual Meetings, taking place in the context of the institutions’ 80th anniversary, offered little substantive reform despite multiple ongoing organisational processes and reviews.
IFI governance
Analysis
Development Committee chair’s statement analysis Annual Meetings 2024: compounding crises expose the World Bank’s role in structural failures but limit scope for reform
Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural failures.
Private Sector
Commentary
IFC standards review must respond to UN’s call for rights-based transition mineral value chains
Amid escalating transition minerals mining, the expected 2025 review of IFC’s Performance Standards must result in a new approach.
Environment
News
Jamaica’s World Bank-brokered catastrophe bond fails to pay despite devastation of Hurricane Beryl
Bond's 'parametric criteria' were not triggered by powerful storm, despite the entire island being declared a disaster zone.
Private Sector
Background
What is the International Finance Corporation (IFC)?
This Inside the Institutions explores the International Finance Corporation (IFC), the World Bank Group’s private sector arm. It examines the function of the IFC as a development institution focused solely on private sector solutions to development and considers civil society critiques.
