In March, the World Bank launched its new Africa strategy, outlining three main areas in which it will focus its operations: competitiveness and employment, vulnerability and resilience of citizens, and governance and public sector capacity. However, a major focus is on “leveraging partnerships”, including how to ”leverage the Bank’s financing to crowd-in other sources of private investment.” Dr. Kwame Osei, writing for the website Modern Ghana, observes that “This new approach from the World Bank will never enable Africa to develop at a point where inordinate poverty [and] disease … will be eradicated” (see Update 62).
The Bretton Woods Project has published a new briefing providing a critical analysis of the IMF's latest work on gender equality. The briefing questions the sustainability of the Fund's new approach to gender equality and reveals that the Fund's analysis so far is limited and inconsistent with the full achievement of women's economic empowerment.
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