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DEVELOPMENT: NGOs Pressure AsDB to Strengthen Safeguards
By Marwaan Macan-Markar
MADRID - Behind-the-scenes lobbying by non-governmental organisations (NGOs) paid off by the end of the annual meeting of the Asian Development Bank (AsDB) concluding here Tuesday. Leading financial officials from a host of European countries came out in favour of the strong "safeguard policies" that activists are championing.
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DEVELOPMENT: AsDB Soliciting Private Investments
By Marwaan Macan-Markar
MADRID - When he was not attending seminars at a conference centre in the Spanish capital, the Asian Development Bank’s (AsDB) Seethapathy Chander was trying to broker deals to attract European investors to developing regions of Asia.
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ENERGY: World Bank, IFC Seek Investors in Off-Grid Africa
By Abid Aslam
WASHINGTON - An international campaign to bring modern lighting to one-fourth of Africa's people enters a new phase this week with talks to draw investors to markets beyond the reach of the continent's outdated power grid.
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DEVELOPMENT: Food Crisis Rises To Forefront At AsDB Sessions
By Marwaan Macan-Markar
MADRID - Three words -- high food prices -- emerged like a gatecrasher at an event hosted by the Asian Development Bank (AsDB) here that was originally billed as a celebration of the bank’s new vision for poverty eradication in Asia.
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EUROPE: Tax Havens Cheating the Poor
By David Cronin
BRUSSELS - Tax havens in Europe are depriving poor countries of more money than they receive in development aid, it has been alleged.
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ECONOMY: IMF Reforms Itself, A Little
By John Vandaele
BRUSSELS - The poor have been given a little more say in the IMF. It is still a small step, but the biggest such in the last 60 years.
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FINANCE: World Bank "Playing Both Sides of Climate Crisis"
By Haider Rizvi
NEW YORK - A new study released by an independent policy think tank casts further doubts on the World Bank's ability to stay neutral in the global politics of climate change.
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ECONOMY: From the IMF and World Bank, Visions of Gloom
By Abid Aslam
WASHINGTON - The United States will fall into recession this year, dragging down global economic performance for the next two years, the International Monetary Fund (IMF) said on Wednesday.
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ECONOMY: More U.S. Banks Agree to Stall Home Repossessions
By Abid Aslam
WASHINGTON - A coalition of U.S. mortgage banks said Tuesday that they would join a nationwide effort to stem a rising tide of home repossessions.
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ECONOMY: IMF Sees Worst Downturn in Years
By Abid Aslam
WASHINGTON - The International Monetary Fund (IMF) has again cut its forecast for world economic growth and is bracing for more bad news in rich and poor countries, but it stopped short of using the word "recession" Tuesday.
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HEALTH: World Bank, India Confront Corruption
By Abid Aslam
WASHINGTON - Indian health projects are under the microscope following revelations of fraud and corruption in five ventures backed and overseen by the World Bank.
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ECONOMY: Global Prospects Pinned on Developing World
By Abid Aslam
WASHINGTON - The world is entering its second straight year of a U.S.-led economic slowdown but resilient developing economies are cushioning the effects, the World Bank said Wednesday in a report portending pain for the poorest.
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FINANCE: Watchdog Faults IMF Loan Conditions
By Abid Aslam
WASHINGTON - The International Monetary Fund (IMF) continues to burden its borrowers with superfluous demands despite efforts to streamline loans, an internal watchdog has found.
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FINANCE: Prickly Peru Gas Project Gets Key Loan
By Abid Aslam
WASHINGTON - The Inter-American Development Bank approved key financing Wednesday for a Peruvian bid to become an exporter of gas, over the objections of environmentalists and indigenous people's advocates.
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FINANCE: Record Support, Some Quibbles for World Bank's IDA Fund
By Abid Aslam
WASHINGTON - Donors have promised the World Bank record sums to spend in the poorest countries from next year, largely overlooking concerns that the global lender uses the money for political purposes.
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CLIMATE CHANGE: World Bank Touts Funds, Critics Smell Hot Air
By Abid Aslam
WASHINGTON - The World Bank is seeking money for a scheme aimed at making it more lucrative to preserve the world's forests than to fell them.
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Eye on the IFIs in RSSThey underpin the world's financial architecture, with the power to revamp whole economies and channel billions of development dollars each year. But the so-called International Financial Institutions -- the World Bank Group, International Monetary Fund and regional investment banks -- face a new era of public scrutiny and challenges to their relevancy. How are the IFIs responding to growing demands from the South and civil society groups for greater democracy and accountability? And are they living up to their stated mission of promoting economic prosperity for all?

He'll Huff, and He'll Puff and... Blow the Bank Down?
News in RSS
COLOMBIA: Therapeutic Abortion - A Right in Name Only?
BIODIVERSITY-US: Loggers, Owls Not Out of the Woods Yet
IRAN: Can P5+1 Offer Break the Nuclear Stalemate?
RIGHTS-JAMAICA: Spat Escalates Over Anti-Gay Lyrics
BURMA: UN Aid Arrives, But Many Doors Still Closed
IRAQ: Running Out of Water in Rising Heat
TURKEY: Ruling Party Challenges Closure
ICELAND: Road Threatens Heritage
CHINA: Buying Farmland Abroad, Ensuring Food Security
LEBANON: Hezbollah Unleashes a Coup Bid
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News in RSS
IMF: WHEN NOTHING IS BETTER THAN SOMETHING (BAD)
by Jomo Kwame Sundaram
Last week the International Monetary Fund called for governments to rise together to face the challenges posed by the ongoing financial turmoil. Unfortunately, most developing countries do not feel the IMF belongs to them, which may adversely affect their willingness to accept Fund leadership, writes Jomo Kwame Sundaram, United Nations Assistant-Secretary-General for Economic Development.
more >>
SOUTH AMERICA: : BANKING ON THE NEIGHBOURS
by Anuradha Mittal
Resentment against the international financial institutions is growing across the world, laying a foundation for an alternative economic vision in South America. The challenge is for it to be a true alternative, writes Anuradha Mittal, executive director of the California based Oakland Institute.
more >>
THE IMF AND WORLD BANK:: CRISIS TIME
by Roberto Savio
After many years of a sustained campaign against the United Nations, the so-called Bretton Woods twins -- the International Monetary Fund and the World Bank -- now find themselves in political and economic crisis, writes Roberto Savio, founder and president emeritus of IPS news agency and founder of the International Committee of the World Social Forum.
more >>

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