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Wednesday, August 19, 2026
News and Views from the Global South
Eye on the IFIs
AFRICA: Corruption Carries High Cost, World Bank Says
Poverty is on the rise in Sub-Saharan Africa (SSA) and various forms of corruption threaten to undermine the impact of investments made to meet the Millennium Development Goals (MDGs) in the continent, said the World Bank in a report released Monday on Africa's development.HAITI: Caribbean Unites Behind Recovery Plans
As he travels back to his headquarters in Washington, World Bank president Robert Zoellick must be painfully aware that Caribbean Community (CARICOM) countries have very strong feelings on the redevelopment of Haiti following the Jan. 12 earthquake.
MIDEAST: Occupation Turns Palestinian Women Into Breadwinners
Israel’s occupation of the Palestinian territories, with its ubiquitous closures, checkpoints, military raids and arrests, has decimated the Palestinian economy in the West Bank and Gaza.HEALTH: Neoliberalism not Liberal Enough for AIDS Investments
Neoliberal economic ideas have grown increasingly dominant over the last 30 years. During that same time, the spread of HIV/AIDS has reached an epidemic crescendo.
US-HAITI: The Loan that Wasn’t – Part 1
On the one-month anniversary of the devastating earthquake of Jan. 12, Haitians continue to perish from a variety of causes, including death by red tape: they fall between the cracks of a still poorly-coordinated aid effort.
ZIMBABWE: How Do You Solve a Problem Like Arrears?
Faced with nearly six billion dollars of external debt, Zimbabwe's national unity government is considering applying for Highly Indebted Poor Country status.HAITI: U.S. Lawmakers, NGOs Call for Debt Cancellation
Three weeks after Haiti's devastating earthquake, nearly 100 U.S. lawmakers joined with key civil society groups here Thursday to urge the Group of Seven (G7) leading western nations to commit to cancelling all of the Caribbean country's multilateral debt.
UGANDA: Railway Revival Planned
The collapse of the Uganda Railway Corporation 15 years ago opened up lucrative opportunities for privately-owned road transporters. But the high cost of maintaining the highways carrying heavy truck and bus traffic is leading government to take a fresh look at the rails.FINANCE: Icelanders Question IMF Loan
After eight months of waiting, Iceland is finally back on the agenda of the IMF. The second instalment of the IMF loan was agreed at the end of last month and has now been transferred to Iceland.WORLD: IMF Has Long Way to Go – Even After "Istanbul Decisions"
The International Monetary Fund (IMF) may be performing better during the current economic crisis than during the Asian crisis of the late 1990s, but it still has "a long way to go".ECONOMY-AFRICA: Pros and Cons to Huge Chinese Investment in DRC
Concerns abound about a nine billion dollar Chinese investment in the Democratic Republic of the Congo, especially around environmental consequences and transparency. And, on the Chinese side, investors complain not only about the lack of security in the DRC but about their own government not providing enough support.AFRICA: Broken Promises Litter the Aftermath of Global Crisis
It seems that, once again, Africa and the rest of the developing world have been short-changed, given the broken promises in the wake of the global economic implosion.ENERGY: World Bank Looks for the Cleaner Way
With new energy and environment strategies in the pipeline, the World Bank and its critics are going head to head on issues of fossil fuel funding and clean energy. The Bank will now call in outside experts to ensure that its coal power financing is justifiable, but critics would prefer it to go for truly clean energy.DEVELOPMENT: Land Grabs for Food Production Under Fire
A move by governments and rich investors to raise food crops on farmland purchased in some of the world's poorer countries is coming under fire.
CULTURE: First Woman Head Seeks New Direction for UNESCO
The rapturous applause that greeted Irina Bokova Thursday as she was confirmed UNESCO's new director-general was a sign that the organisation is keen to move on from recent controversies.AGRICULTURE-ZIMBABWE: "The Rule of Law Just Isn’t There"
Agriculture used to be Zimbabwe’s economic mainstay but it has been on the decline since 2000 when the ZANU-PF government embarked on a so-called land reform programme that resulted in about 4,000 productive white farmers losing their farms, many to members of the politically connected elite.FINANCE: IMF Rebuts Critical Report on Lending
The International Monetary Fund is on the defensive over a recent study which charged that a majority of countries with IMF agreements have been subjected to pro-cyclical fiscal or monetary policies during the global economic downturn, exacerbating the effects of the recession and harming some of the world's poorest economies.ECONOMY: Recovery Will Be Jobless
The annual meetings of the World Bank and the International Monetary Fund (IMF) ended Wednesday in Istanbul in a climate of cautious hope for the economy and with a mixed bag of opportunities and challenges for the two institutions.FINANCE: Not Reforms, But Reformed
The annual meetings of the International Monetary Fund and the World Bank have run into a predictable roadblock in setting out brave new directions: a roadblock called memory. What could have been an immensely sensible idea of turning the IMF into a new central bank for the world is up against years of mistrust the IMF has built for itself.FINANCE: IMF Loan Policies Worsening Crisis, NGOs Say
While world leaders banter about International Monetary Fund and World Bank business in Istanbul, NGOs critical of the way the Bretton Woods institutions operate are not letting up pressure.ROMANIA: Government Collapse Deepens Economic Woes
Romania is heading for a week of massive protests by state employees. With the governing coalition collapsing last Friday, the new minority government will have a hard time navigating between the demands of the protesters and the austerity measures demanded by its international creditors.« Previous Page — Next Page »
They 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? IPS reports.
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Tracking global progress towards a sustainable world
