Bretton Woods Project - Critical voices on the World Bank and IMF

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Bank and Fund structural adjustment programmes (SAP's) often required dramatic reform of a borrowing country's economic policy. The successor to SAPs, the Poverty Reduction Strategy Paper (PRSPs) set out a country's macroeconomic, structural and social policies to promote growth and reduce poverty. These comprehensive strategies for reform are necessary for World Bank loans or lending by the fund under the poverty reduction and growth facility (PRGF). Includes: conditionality, structural adjustment lending, Structural Adjustment Participatory Review Initiative (SAPRIN), Poverty and Social Impact Assessment (PSIA), PRGF, letters of intent read more background...

Items 1 to 10 of 357

First ever real-terms drop in IDA agreed Replenishment negotiations focus on private sector, fragile states

News|Bretton Woods Project|18 September 2013|url

As the negotiations on the 17th replenishment of the World Bank's International Development Association (IDA) pass the half way mark, a real-terms drop in IDA and stingier terms for borrowers have been agreed. The discussion has focussed largely on the private sector and fragile states. read article...

IMF champions growth But calls for more cuts

News|Bretton Woods Project|26 June 2013|update 86|url

As global economic risks and stagnation in major economies are expected to persist, the IMF's rhetoric is increasingly anti-austerity, reflecting changing priorities in member states. However, states where IMF policy influence is greatest, spending cuts continue. read article...

IMF's Greek mea culpa Does the Fund have a future in Europe?

News|Bretton Woods Project|26 June 2013|update 86|url

In June the IMF released an ex post assessment of its 2010 lending programme to Greece which described a series of errors and found that the Fund consciously chose to break its own rules on the sustainability of the programme. read article...

IMF-sanctioned reforms "hurting Malawians"

News|Bretton Woods Project|26 June 2013|update 86|url

Voice Mohne, chair of the council for non-governmental organisations in Malawi, declared to President Joyce Banda at a May public meeting that the adoption of the "full set of IMF reforms" by Banda's government was "too much for an average Malawian to absorb", because "there is no meaningful safety net mechanism". read article...

Pakistan needs to borrow "to repay IMF"

News|Bretton Woods Project|25 June 2013|update 86|url

In late June, finance minister Ishaq Dar informed Pakistan's national assembly that the government "will have to go to the IMF" in order to repay current outstanding loan instalments to the Fund. read article...

The Troika setting a "default trap"?

News|Bretton Woods Project|13 February 2013|update 84|url

Controversy erupted in January after the IMF implied lenders to Greece may need to provide yet more debt relief, while the social and economic sustainability of other Troika (the lending triumvirate comprising the Fund, European Central Bank and European Commission) programmes is still in question. read article...

IMF lending in Europe unprecedented, programmes failing Letter to the Economist

Letter|Bretton Woods Project|18 October 2012|url

The contradictions revealed by IMF involvement in eurozone bailouts, identified in your article ("Less Cash, More Impact", The Economist, October 5th), reflect a crisis of legitimacy at the Fund. read article...

World Bank-IMF annual meetings 2012

News|Bretton Woods Project|16 October 2012|url

Analysis, news, and about the events inside and around the World Bank/IMF annual meetings 2012. This page is being updated regularly. read article...

IMF's World Economic Outlook admission of flaws creates controversy

News|Bretton Woods Project|16 October 2012|url

The launch of the IMF's autumn 2012 World Economic Outlook (WEO) report stimulated a controversy over economic forecasting during the annual meetings of the IMF by admitting that the Fund's models, used to dictate the terms of bailouts, were flawed. read article...

IMF's "incompetence" and "failures" in Europe led to "suffering"

News|Bretton Woods Project|3 October 2012|update 82|url

The IMF's role as a member of the Troika, the grouping of the European Central Bank (ECB), European Commission and the Fund in the eurozone crisis, is attracting new criticism. Deepening recessions in eurozone nations have brought the efficacy and appropriateness of Troika-led reforms into question. read article...

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