This briefing examines the trajectory of China's evolving leadership in international development finance, including the impact of it's massive increase in development finance for developing countries.
The IMF has changed its long-standing rule on lending to countries in arrears to official creditors, thereby avoiding having to cancel its $17.5 billion loan programme to Ukraine.
World Bank faces increased competition over large scale infrastructure in Asia, with the Asian Infrastructure Investment Bank and the BRICS Bank.
Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
IFC investments in a TV guide, hotels and online shopping highlight projects with weak development outcomes
The Russian economic crisis, hot on the heels of the Asian meltdown, has provoked the Financial Times to comment that “the role of the International Monetary Fund in preventing crises has been comprehensively undermined.”
The Inspection Panel has deferred a decision to investigate a complaint regarding environmental, social and economic damage related to a World Bank funded mining project in Mongolia.
Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014
Countries, including Russia and India, have continued to express concerns over the failure to complete the 2010 IMF quota reform.
Martin Gilman, former IMF Moscow representative, has been hired to teach economics by the Russian state-funded Higher School of Economics, while Anders Aslund, the one-time consultant and promoter of Russian privatisation, has been appointed to a World Bank team investigating the success of such programmes.
In September, Russia reimposed energy sector controls to force Russian oil companies to sell some of their product on the home market, only months after it removed them to comply with IMF conditionality.
In December the IMF halted loans to Russia as the war in Chechnya reached crisis point.
The FBI and US Congress are investigating allegations that the Bank of New York, the Republic National Bank and other Western financial institutions were involved in laundering IMF loans siphoned out of Russia by the mafia helped by top Kremlin officials.