A reform path without linking up to the UN consensus on the future and on development.
Tag: World Bank (page 1 of 2)
This is the message the World Bank wants to give at its annual meeting this week-end. But is it possible?
ITUC’s statement about the needed reforms:
In the same way as in its old ‘Doing Business’ ranking, the World Bank shows once again it is not ready to fully recognize the importance of labour rights, including social protection
The mothers and daughters of the global south cannot celebrate the World Bank’s 80-year legacy of harm.
Opinion: Why we cannot celebrate the World Bank’s 80-year anniversary | Devex
The World Bank Group promotes a model of social protection
via poverty-targeted programmes that are error-strewn and can
cause social unease, and set back progress towards universal
social protection. But a global coalition, led by borrowing govern
ments themselves, is fighting back. This briefing is based on Mat
thew’s book, Beyond the World Bank: The Fight for Universal Social
Protection in the Global South, which explores the Bank’s approach
to social protection.
WBG-Social-protection-Mathew-Greenslade-FINAL-web.pdf (brettonwoodsproject.org)
The World Bank insists commercial finance is necessary for achieving economic recovery and the Sustainable Development Goals (SDGs), but does little to ensure profit-hungry commercial finance serves the public interest.
By failing to address pressing challenges within their purview, the second-ever Bretton Woods institutions’ (BWIs) annual meetings on the African continent, in Marrakech in October 2023, set the developing world even further back.
Article by Jomo Kwame Sundaram
The IMF and World Bank closed its historic Annual Meetings in Marrakech – the first in Africa for 50 years – without delivering a response that matches the urgency of the moment.
The institutions still failed to recognise that we are in the worst global south debt crisis ever. Their rhetoric on the impact of severe debt burdens was not matched by action to speed up their sluggish response so far. Beyond baby steps by the Global Sovereign Debt Roundtable to agree on basic elements of debt restructurings, neither the IMF and World Bank, nor the G20 Finance Ministers, took any steps to respond to the calls by civil society and global south leaders, to deliver on debt cancellation and debt architecture reform.
Read Eurodad’s analysis
A civil society briefing – published in response to the World Bank’s public consultation on the ‘Evolution Roadmap’ and endorsed by 74 organisations and indidivuals (see pp. 9-10) – calls for a World
Bank Group roadmap that prioritises people, participation and the planet over profit and economic
growth. It provides an alternative analysis of the current ‘crisis of development’ which the Evolution
Roadmap seeks to respond to; presents key evidence on the damaging effects of the ´Cascade´
approach to date; and proposes an alternative pathway towards a more equitable and sustainable
World Bank Group ‘evolution’, which would reverse the flow of the Cascade, putting public interest –
including grassroots voices, and economic, social, women’s, girls’ and human rights – at the centre
of the public development paradigm for the 21st century, rather than the profits of corporations and
private finance
Read the briefing
The ITUC warns that the World Bank’s new “B-Ready” project signals bad news for working people, as it will undermine labour rights and social protection across employment sectors.
Described as the Bank’s “corporate flagship”, B-Ready presents itself as an index that supposedly measures the business and investment climates in 180 economies worldwide annually.
ITUC’s Analysis https://www.ituc-csi.org/IMG/pdf/b_ready_memo_en.pdf
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