Bretton Woods Update No.77September/October 2011
PDF version | At Issue PDF | text versionIFC updated performance standardsweak on human rights, other shortcomings
NEWS|14 SEPTEMBER 2011
The International Finance Corporation (IFC), the Bank's private sector arm, has concluded a two-year review of its performance standards on environmental and social sustainability, but its weak human rights approach has angered rights organisations. read article...
World Bank policies "enabling" African land grab
NEWS|14 SEPTEMBER 2011
New research claims World Bank Group's policies facilitate land grabs in Africa and favour the interests of financial markets over food security and environmental protection. read article...
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EG annual report slates World Bank's education workhighlights problems in health, MENA
NEWS|13 SEPTEMBER 2011
The Bank's Independent Evaluation Group (IEG) released its annual report at end August, again finding shortfalls and uneven results across the World Bank Group. While the Bank's leadership has steered the institution towards more private sector work, outcomes in the health and education sector have dropped substantially. read article...
Programmed for Results?
Concerns raised over new World Bank lending instrument
NEWS|14 SEPTEMBER 2011
In August, the Bank released a policy paper and draft operational policy for its controversial new Program For Results (P4R) lending instrument, aiming to rush through its approval by the end of the year, despite significant concerns. read article...
Big infrastructure, small participation
World Bank and G20 push new plans
NEWS|13 SEPTEMBER 2011
The World Bank is drawing up a list of massive, cross-border infrastructure projects for fast-track approval by the G20, and is promoting private sector involvement, but it has failed to involve any local communities. read article...
World Bank pushing dirty coal and massive hydro
NEWS|13 SEPTEMBER 2011
The Bank's energy projects in Kosovo and India are being lambasted by critics for threatening livelihoods and the environment. read article...
IFC helping Western multinationals exploit Ghana's water crisis
COMMENT|13 SEPTEMBER 2011
The water supply crisis in Ghana is being exploited by all manner of pro-market corporate bodies ranging from the World Bank to Coca-Cola. While the World Bank is licking its wounds from failed private water management initiatives, such as the Aqua Vitens Rand Limited management contract in Ghana, the International Finance Corporation (IFC), its private sector arm, is investing in small-scale private water ventures via WaterHeath International (WHI). read article...
World Bank deaf on food speculation, vocal on financial instruments
NEWS|13 SEPTEMBER 2011
As agricultural market continue to experience increasing volatility, and record food prices intensify global hunger and poverty, the World Bank's approach to the crisis, which emphasises the use of commodities markets and corporate agriculture, is found wanting by groups demanding food sovereignty and food security. read article...
Scandals threaten IFI governance
IMF, World Bank leaders accused
NEWS|14 SEPTEMBER 2011
With the new IMF head and a Bank’s managing director under judicial investigation, questions continue to be asked about IFI governance, while implementation of existing reforms remains slow. read article...
China and the World Bank
INSIDE THE INST|14 SEPTEMBER 2011
China joined the World Bank in April 1980, and since then has been one of its largest borrowers and recipients of technical assistance. In recent years, China has gone beyond the only role of recipient country and has increased its influence on the Bank. read article...
IFC weakens World Bank's transparency commitment
NEWS|14 SEPTEMBER 2011
The new access to information policy at the International Finance Corporation (IFC), the World Bank’s private sector arm, has been criticised for being weaker than its public sector counterpart, and for allowing sweeping exceptions. read article...
Donor governments join critical chorus on the CIFs
NEWS|13 SEPTEMBER 2011
The Bank-housed Climate Investments Funds (CIFs) are facing increasing criticism from donor governments and civil society groups, while concerns that the Bank's role in the new Green Climate Fund (GCF) constitutes a conflict of interest continue. read article...
World Bank won't give up on carbon markets
NEWS|13 SEPTEMBER 2011
As the Bank's own report declares the carbon market is failing, the Bank is still pushing forward carbon finance initiatives. read article...
IEG slams World Bank trust funds
NEWS|14 SEPTEMBER 2011
IEG report slams Bank trust funds for contributing to ineffective aid. read article...
Evaluations suggest IMF, World Bank research ideologically driven
NEWS|14 SEPTEMBER 2011
A report by the IMF’s arms-length evaluation body, the Independent Evaluation Office (IEO), suggests that Fund research does not allow room for alternative perspectives, while academics attack the World Bank for pursuing ideologically driven research agendas. read article...
Bondholders vs the public: Outcry over IMF-EU eurozone loans
NEWS|13 SEPTEMBER 2011
The sovereign debt crisis in the eurozone, where Greece now needs a second round of loans, threatens major economies like Spain and Italy, but IMF-backed lending packages that demand deep austerity with insufficient attention to lenders' responsibilities anger the public. read article...
IMF advice accused of risking new recession
NEWS|13 SEPTEMBER 2011
Since the financial crisis, the IMF's rhetoric has tried to be nuanced about austerity policies and the need to stimulate growth, but critics says its actions risk pushing the world back into recession and hurting workers. read article...
Forty years is enough?
In search of a new international monetary system
NEWS|14 SEPTEMBER 2011
On the 40th anniversary of US default on its gold convertibility obligation, decreasing confidence in the dollar has strengthened calls to reform the international monetary system. The IMF is accused of ignoring inequities at the core of the system, while developing countries are increasingly seeking alternative regional arrangements. read article...
Navigating complex dilemmasthe Bank on violence, conflict and peace building
AT ISSUE|16 SEPTEMBER 2011
The World Development Report 2011: Conflict, Security and Development is shifting the language of international policy on supporting peace and development in fragile and conflict-affected countries. Monica Stephen of International Alert examines how the World Bank's operations need to adjust to support peace and development. read article...
Other stories in this issue
- UK announces priorities for World Bank
- US legislators try to cut funding to IFIs
- World Bank lending falls by 20 per cent
- South Sudan born free from IFI debt
- 2011 World Bank-IMF Annual Meetings schedule
- Job vacancy: Programme manager for environment, human rights and social impacts
- IFC investment linked to forest loss
- World Bank busted over bus project in Lima
- Community complaint against IFC in PNG
- Outcry over World Bank role in Indian policy review
- IFC hotel investment: "corporate welfare"
- Red-Dead sea plan in hot water
- Arab civil society rejects IFI involvement
- Ecuador shuns IMF, borrows from China
- Will the Fund consider equity issues in its tax approach?
- Ukraine protests against IMF policies
- IMF staff warm to 'Robin Hood tax'
- IEO publishes draft issues papers on IMF advice, learning systems
- IMF may face resource shortfall, warns Lagarde
- Bank misdefining domestic debt?
- Bank upgrade of Zambia fails to impress
- South African loan to Swaziland hinges on IMF conditions
- Tribunal increases protection for World Bank whistleblowers
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