World Bank
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Incoming World Bank President Ajay Banga’s predatory-finance background threatens even more prolific Bank poverty-creation
12 April 2023 - by Patrick Bond, Milford Bateman, Lena Lavinas, Erin Torkelson
Should the incoming World Bank president, Ajay Banga, be allowed to take office without a full investigation into his predatory-financing history, especially as a visionary leader of MasterCard committed to ‘financial inclusion’? A great deal (...) -
Éric Toussaint, “The IMF and the WB bear a great responsibility in weakening countries that have to face external shocks”
5 April 2023 - by Dora Villanueva
After three years of Covid-19 pandemic, the world is facing “a genuine international debt crisis (…) nearly 80 countries of the South are close to defaulting” or are actually defaulting, Éric Toussaint, spokesperson for the Committee for the (...) -
Climate-Financing Carrots and Sticks in South Africa
29 March 2023 - by Patrick Bond
Abstract At a time international climate finance is hotly contested, especially in Britain, Europe and the United States, durable demands from the Global South have again arisen, especially that major greenhouse gas emitters’ contributions to (...) -
Banga’s nomination has Empire written all over it
3 March 2023 - by Iolanda Fresnillo, Jean Saldanha
Eurodad’s questions ex-MasterCard chief Ajay Banga’s nomination by the USA as their candidate for president of the World Bank Group. It is crucial that the next World Bank leader breaks with the past and has a vision for the future, but a Banga (...) -
The CADTM condemns the nomination of Ajay Banga as the future President of the World Bank and calls for the replacement of this institution
1 March 2023 - by CADTM International
A few days after the resignation of David Malpass, who remains President of the World Bank until 30 June 2023, Joe Biden announced the appointment of his successor, Ajay Banga. Like his predecessors, the future head of the World Bank is an (...) -
The resignation of David Malpass, President of the Wolrd Bank, must boost actions and mobilizations towards the replacement / the demise of both the WB and the IMF in a context of acute climate and environmental crisis
18 February 2023 - by CADTM International
David Malpass, President of the World Bank since April 2019, has announced his resignation on or before 30 June 2023. In the context of a major ecological and climatic crisis, which threatens all living beings on the planet - mainly in the (...) -
The World Bank: a Critical Primer by Eric Toussaint - Part 2
15 February 2023 - by Samantha K.S
The second part of the discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer -
The World Bank: a Critical Primer by Eric Toussaint - Part 1
5 February 2023 - by Samantha K.S
An interesting discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer -
Call for a global counter-summit of social movements to the IMF-WB Annual Meetings to be held in Marrakech from 9 to 15 October 2023
23 January 2023 - by CADTM International
In order to promote unity of action, the CADTM proposes that a common call to this counter-summit be drafted. It is addressed to all movements wishing to join forces in defence of humanity The Annual Meetings of the World Bank Group (WBG) and (...) -
The World Bank and IMF have set their sights on East Timor, a state officially born in May 2002
11 January 2023 - by Eric Toussaint
East Timor, located 500 km from the coast of Australia, won independence in May of 2002 after several decades of struggle. In 2003, when I went there at the request of the Timorese authorities, the country had a population of a little over (...) -
The “gender equity” farce: a feminist reading of World Bank policies
11 January 2023 - by Camille Bruneau
One cannot take an interest in the policies of the World Bank or in the emancipation of peoples without taking into account the issue of gender, which is itself inextricably entwined with other systems of oppression and social inequality. (...) -
Decarbonisation financing foiled in Egypt: World Bank and Pretoria sabotage global climate justice
12 November 2022 - by Patrick Bond
In Sharm El-Sheikh, Egypt, where the 27th United Nations annual effort at solving the climate crisis is half-way to failure, negotiators and anyone interested in South Africa’s welfare might get the wrong impression, given hype flowing in (...) -
In South Africa, resistance rises to the World Bank’s climate-killing mega-projects
16 October 2022 - by Patrick Bond
The World Bank and International Monetary Fund Annual Meetings have witnessed protests in Washington and many other sites. Nearly 100 protesters from community, environment and youth groups joined Extinction Rebellion and the DebtForClimate.org (...) -
Activists Disrupt Meeting to Demand ’Loan Sharks’ IMF and World Bank Cancel All Debt
13 October 2022 - by Brett Wilkins
“We need localization and ecological sustainability for the people, planet, and peace,” said CodePink’s Nancy Mancias. “We are calling on the IMF and World Bank to end its debt trap monetary practices which are causing countries to sink further down (...) -
The World Bank, Geopolitics and Mal-Development
11 October 2022 - by Eric Toussaint, Renaud Duterme
Éric Toussaint is a tireless militant and spokesperson for the CADTM (Committee for the Abolition of Illegitimate Debt). His extensively documented indictment of the World Bank will be published by Pluto Press in 2023. He condemns an institution (...) -
The Rotten Roots of the IMF and the World Bank
16 June 2022 - by Jamie Martin, Daniel Steinmetz-Jenkins
A conversation with Jamie Martin about the imperial origins of the world’s economic governance, imagining an alternative to these institutions, and his new book, The Meddlers. The International Monetary Fund and the World Bank have long been (...) -
Pakistan : Regime Change, Political Turmoil and Deepening Debt Crisis
3 May 2022 - by Abdul Khaliq
Pakistan has plunged into a major political crisis after the removal of Prime Minister Imran Khan on 10 April 22, through a successful no-confidence motion against the PTI govt. The month-long political crisis began on 8 March when the country’s (...) -
The Meltzer Report
29 March 2022 - by Allan H. Meltzer
The succession of crises that swept over the so called emerging countries in the nineties and the ensuing disastrous IMF and World Bank interventions provoked a world wide debate concerning the future and the role of these Bretton Woods’ (...) -
Death of Doing Business Report greatly exaggerated as World Bank announces rebranding plans
10 December 2021 - by Bretton Woods Project
On 16 September civil society organisations had occasion for celebration, as the World Bank announced the cancellation of the Doing Business Report (DBR, see Observer Autumn 2021). The decision resulted from an independent investigation into (...) -
Afghanistan Facing Famine
15 November 2021 - by Human Rights Watch
Donor countries, the United Nations, and international financial institutions should urgently address Afghanistan’s collapsed economy and broken banking system to prevent widespread famine, Human Rights Watch said today. The UN World Food (...) -
The World Bank and IMF are using flawed logic in their quest to do away with the informal sector
10 November 2021 - by Mike Rogan, Max Gallien, Vanessa van den Boogaard
Many low and middle-income countries face a myriad of challenges. But policies that can address them are few and far between. The challenges include high and rising inequality, budget crises and the ongoing pandemic. In a set of recent outputs, (...) -
Lessons from the assassination of Fikile Ntshangase: Climate violence, the “Right to say No!”, uncompensated resource extraction, financial profiteering and unpaid ecological debt in South Africa’s coal mining belt
22 October 2021 - by Patrick Bond
Fikile Ntshangase died aged 63 on October 22, 2020, assassinated by three thugs who entered her house – with several grandchildren playing nearby – and shot her six times, following her success in stalling a local mine’s expansion. The murder was (...) -
The latest Bretton Woods bean-counting scandal nearly evicts IMF director Georgieva: “Torture the data until they confess” (or until you’re busted), economists profess
13 October 2021 - by Patrick Bond
After a major leadership crisis that further degrades the Bretton Woods Institutions’ number-crunching credibility by revealing a pro-corporate bias – one that in 2017 was aimed at pleasing Beijing’s “Communist” government – yet another discredited (...) -
Some notes on the world economy now
25 June 2021 - by Michael Roberts
To help think about what will happen economically in the second half of 2021 and into 2022, the CADTM reproduces this article written and published by economist Michael Roberts just over a year ago in May 2020. A sugar rush or economic (...) -
Global Austerity Alert: Looming Budget Cuts in 2021-25 and Alternatives
5 May 2021 - by Isabel Ortiz, Matthew Cummins
Rather than exploring financing options to provide direly-needed support for socio-economic recovery, many governments—advised by the IMF, the G20 and others—are opting for austerity. Last week Ministers of Finance met virtually at the Spring (...)
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