Despite their popularity, PPPs have a very bad track record of delivering cost-effective investment for governments, and pose additional and serious problems by reducing transparency and accountability.
As Eurozone countries agree a new loan package to Greece, the IMF has conceded to ‘major concessions’ instead of up front debt relief and may participate in a new programme despite its insistence that the Fund's involvement in future programmes is dependent on ‘significant debt relief’.
While the recent reforms to the IMF and World Bank governance reforms and the establishment of new Southern-led IFIs are symbolically important, they are thus far not a rupture with the Western-dominated international financial architecture.
An IMF policy paper on the international monetary system considers its future policy on capital controls and proposes a review of the IMF's institutional view on the liberalisation and management of capital flows.
A report by the UN independent expert on foreign debt, exploring inequality, financial crises and human rights, claims that IMF programmes are associated with a worsening of income distribution.
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 confirmed that China’s currency, the remnimbi or yuan, will be included in the IMF’s calculation of its international reserve asset from October 2016.
The IMF has confirmed its participation in negotiations for the third Greek loan programme since 2010, seeking debt relief, privatisation and pension reform. The IFC has invested €150 million in Greece's four main banks.