The World Bank’s private sector arm, the International Finance Corporation (IFC), plays a significant role in influencing private financial flows. As the “largest global development institution focused on the private sector”, the IFC aims...
With the growing integration of economic activities around the world, international trade has become an interesting arena for observers of international political economy and development practices.
Founded in 1999, in the wake of the Asian Financial Crisis, G20’s formation was announced by the finance ministers of the Group of Seven (G7) as the forum for international cooperation on financial and...
With the world facing a climate crisis, urgent action is required on many fronts, not least in ensuring adequate levels of climate finance to support mitigation and adaptation in the Global South. Campaigns to...
As the 13th BRICS Summit was recently held and chaired by India, the People’s Forum on BRICS (a network of people’s movements, progressive civil society organizations, and trade unions) is convening a 5-day online...
In September, the World Bank announced that it would discontinue the publication of the Doing Business Report and Ranking (DBR). This overdue decision came after a series of internal audits and an investigation that...
& Recommendations from the External Review of IFC/MIGA E&S Accountability, including CAO’s Role & Effectiveness We welcome the opportunity to comment on the report of the external review team. At the outset, the recommendations...
of External Review of IFC/MIGA E&S Accountability, including CAO’s Role and Effectiveness After 20 years of its existence, the Compliance Advisor Ombudsman (CAO) and International Finance Corporation’s (IFC) social and environmental accountability review has...
I. Yet another Loan for India for response to the Covid-19 crisis India received yet another external loan for dealing with the Covid 19 crisis. Japan announced an emergency support loan of up to...
On August 27, the World Bank came out with a statement suspending the Doing Business Report. The statement said that a number of irregularities have been reported regarding changes to the data in the Doing Business...
The process of the World Bank reforming the Inspection Panel (IPN) to adapt it to the changing environment, the newly adopted Environmental and Social Framework (ESF) started in 2017. The World Bank’s Committee on...
Civil society groups from across the globe wrote to the President of AIIB Jin Liqun raised concerns during the global pandemic and demanded accountability and transparency from AIIB during this pandemic. With the government’s in...
On August 24 evening, a federal court ruled that the World Bank Group cannot be sued for any damage caused by its lending–despite last year’s Supreme Court ruling in the same case that these...
The world was witnessing a massive buildup of debt, even before the pandemic began. World Bank described it as the largest, fastest and most broad based amounting to 230 percentage of the Global GDP. ...
The International Monetary Fund (IMF) released two updates in the month of June – first was the World Economic Outlook, titled A Crisis Like No Other, An Uncertain Recovery and another was the Financial...