Dear colleagues,

We are happy to announce the publication of our Observer Winter 2021.

In this edition we capitalise on the recent news from the World Bank that a re-branded Doing Business Report will be launched in about two years, bringing back civil society concerns about the Bank's unwillingness to address structural changes revealed by the investigation and to consider its private sector bias.

This edition’s At Issue Briefing, by Daniela Prates (UNCTAD), argues that IMF's position on capital controls must be revised to recognise that they are an essential and permanent macroeconomic tool necessary to increase countries' policy autonomy and to prevent future debt crises.

Our Guest Comment, by Juan Pablo Borrego (Ecosistemas) analyses how World Bank's reactive accountability mechanisms are unable to address harms caused, with a focus on the Alto Maipo river project, in Chile. The Guest Analysis, by Bilquis Tahira (Shirakat Partnership for Development) highlights the damages of IMF's policies in Pakistan, especially on women, as the country reaches an agreement for a further loan disbursement.

Other pieces look at the IMF's lack of public finance or debt relief mechanisms proposals at COP26; the IEO's report acknowledgment of the impact of IMF-imposed cuts while not considering austerity recommendations excessive; the World Bank's reluctancy to endorse a COP26 declaration to end finance for fossils by countries representing 45 per cent of IBRD voting shares; among other issues.

To access these and other pieces click in the following link: http://bit.ly/ObserverWinter21

Best regards,

------------------------------------------

Isabel Alvarez

Communications Manager

Bretton Woods Project

33-39 Bowling Green Lane, London UK EC1R 0BJ
Tel: +44 (0)20 3122 7543 | Skype: Isabel.alvarez.bwp | Email: [email protected] 

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