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The IMF and PPPs: A master class in double-speak

María José Romero and Gino Brunswijck of Eurodad say the International Monetary Fund (IMF) is simultaneously warning about the fiscal effects of ‘public-private partnerships’ and promoting them. “The advice of the IMF seems to lack coherence when it comes to PPPs. On the one hand the IMF recognises the fiscal risks associated with PPPs in its policy advice, while on the other there is a continued push for fiscal austerity measures, which has paved the way for the introduction of PPPs in many countries.”consolidation.

Source: Bretton Woods Project

Tunisian state workers strike as pay rise rejected under pressure from IMF

A breakdown in wage negotiations between the government and the unions over a civil service pay rise led to a November 22 strike.The strike was precipitated by the government’s rejection of the workers’ wage demands under pressure from the IMF.

Source: Middle East Eye

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Public development banks: towards a better model

Development banks have become a critical component of the effort to build up poorer economies, but their ways of working are flawed. As a result, their contributions can do more harm than good. many governments are calling on them to expand their contribution in key areas such as sustainable infrastructure, agriculture or industrialisation. In recent years some national Public Development Banks (PDBs) – particularly from BRICS countries (Brazil, Russia, India, China and South Africa) – have emerged as international actors by expanding their remit to financing projects in other developing countries. Not all PDBs succeed, and even the successful ones carry the risk of major negative impacts on development – sometimes due to external factors beyond their control, but more often because of flaws in their design and operation. As a new Eurodad report – published this week as the IMF and World Bank gather for their Spring Meetings in Washington DC – shows, inconsistent performance is partly down to the diverse mandates, roles and operational strategies of the institutions themselves. Eurodad believes some PDBs are failing because they have lost sight of why they were created.