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.
An impending shortfall in available resources for the Clean Technology Fund continues to concern, leading to cancellation of projects. Questions were raised about development impacts and reliance on geothermal energy in India and Indonesia's revised investment plans, and on debt sustainability in a Caribbean project.
Concerns have been raised about a projected shortfall of resources for the Clean Technology Fund, with an early warning mechanism due to be discussed. Questions were raised about development benefits of a Colombia project and on safeguards for a Vietnam project.
Updates on the Clean Technology Fund (CTF) from CIFs Monitor 9
The IMF’s provision of an exceptional access loan to Ukraine was presented as vital economic support, but many commentators fear that this loan is driven as much by political as economic necessity. Despite emphasising increased sensitivity to country circumstances, Fund policy recommendations in Egypt are very similar to its prescriptions for Ukraine.
IFIs are renewing their focus on Central and Eastern European states. This comes amidst fears that growth in the region needs to be rekindled. The World Bank has promised more funding for countries at risk of instability. However, IMF loans being negotiated with Romania and Hungary have met with controversy.
Recent media articles on the IMF and the World Bank, recommended by the Bretton Woods Project
Chapter of CIFs Monitor 8 on the Clean Technology Fund (CTF)
The IMF has approved a $17.5 billion loan arrangement for Ukraine, however, it has been criticised for relying on debt forgiveness by its creditors.
Notes of a meeting on matching money and expertise at the World Bank-IMF annual meetings 2014
An IFC loan to Danish pig farming company in Ukraine has resulted in a complaint to the Compliance Advisor Ombudsdman because of the air pollution and harm to local people's health.
Ukraine’s interim government concluded negotiations in late March for an IMF loan, likely to carry wide-ranging conditionality.
In early July, thousands of protesters took to the streets in the Ukrainian capital Kiev to try to block pension reforms promised as part of the country's IMF loan.