World Bank

Policy Brief: Canada at the World Bank and IMF – Watching from the sidelines? - July 2008

In 2007, Finance Canada substantially improved both the content and format of its annual "Report on Operations under the Bretton Woods and Related Agreements Act". Now that the government has finally disclosed its positions on issues, and its priorities looking forward, HI is finally in a position to critique some of the issues covered in these reports. This policy brief addresses some of the most important issues covered in the report, most of which have been a traditional focus of our work.

Policy Brief: Implications of the "better aid bill" for the BWIs and EBRD - June 2008

On May 29, Bill C-293 or the “better aid bill”, received royal assent, now legally requiring Canadian official development assistance (ODA) to contribute to poverty reduction, take into account the perspectives of the poor, and be consistent with international human rights standards(see our "Issue Update" for more). Finance Canada, among others, is in the process of developing plans on how to implement the Bill in practice. These comments are intended to help Finance Canada in its interpretation of the Bill for the various international financial institutions (IFIs) for which it is the lead agency.

The Invisible Hand - How the IMF undermines health systems in developing countries

This powerpoint presentation was made by Paul Jensen, Global Research Coordinator with the Results Educational Fund, at the Halifax Initiative member's meeting and workshop. It explains how the IMF puts in place policies that essentially fix the size of government's budgets and determine how much of that budget they can dedicate towards their own national development priorities.

Issue Brief: 15th Replenishment of the International Development Association - June 2007 (Revised September 2007)

Approximately one tenth, or $320 million, of all of Canada's aid money currently goes to the World Bank's soft loan and grant-making facility, the International Development Association.

Every three years, the World's donors - including Canada - meet to discuss how much money is needed to replenish this facility and how they want that money to be lent. The International Development Association (IDA), was established to support economic growth, reduce poverty and improve living conditions. It provides long-term interest-free loans and grants to 81 of the world’s poorest, or low-income, countries.

Policy Brief: Halifax Initiative position on IDA 15

The Halifax Initiative's position with respect to the current discussions around the 15th replenishment of the International Development Association, the World Bank's soft loan and grant-making facility.

Issue Brief: World Bank Extractive Industries Review - June 2006

In preparation for the 2006 National Roundtables on Corporate Social Responsibility and Extractives in Developing Countries, the Halifax Initiative has prepared this issue brief backgrounder, "World Bank Extractive Industries Review - Lessons Learned (and promptly ignored)"

Issue Brief: The IFC's Performance Standards - June 2006

In preparation for the 2006 National Roundtables on Corporate Social Responsibility and Extractives in Developing Countries, the Halifax Initiative has prepared this issue brief backgrounder, "The International Finance Corporations's Performance Standards - the New 'Gold Standard' or 'Fool's Gold?'"

Issue Brief - Poverty Reduction Strategy Papers - September 2005

To receive debt reduction through the World Bank and IMF, low-income countries must prepare of a Poverty Reduction Strategy Paper(PRSP). Learn more about why this process is under fire from critics, including the institutions themselves.

Issue Brief - The Belgian Model

“The Belgian Model” - A national response to enhancing corporate accountability through tying public support to a set of environmental and human rights standards

KAIROS Statement on Global Day of Action Against Debt Domination (December 2004)

A statement by KAIROS calling for multilateral debt relief, greater action on the part of G7 nations and recognition that odious and illegitimate debt should not have to be repaid.

Issue Brief: The World Bank & Water Privatization - March 2004

A short summary of the influential role the World Bank plays in the privatization of water in developing countries

Where the HIPC Initiative is Failing - October 2003

This factsheet evaluates whether the HIPC Initiative has met its own objectives of providing a sustainable exit from debt relief and concludes that it has failed to meet even its own limited goal.

Canada's position on Third World debt - September 2003

This factsheet summarizes the Government of Canada's position on debt cancellation and documents actions to date. For analysis and critique of this position, see our other documents in the Issues-Debt Section.

Issue Brief: Conditions for debt relief (May 1999)

The World Bank and IMF adopted new rhetoric about reducing poverty, and linking debt relief primarily to poverty actions in the fall. But countries entering the debt relief process are still facing the same old conditions that have nothing to do with poverty reduction, and can actually increase the hardships of the poor.

Stuctural Adjustment Programmes

Factsheet: Structural adjustment programmes (SAPs), were originally designed to stabilize developing country economies. Instead, they have imposed harsh economic measures which deepen poverty, undermine food security and self-reliance and lead to unsustainable resource exploitation, massive environmental destruction, and population dislocation and displacement. Given the mounting evidence, Northern countries must reconsider the appropriateness of using their lending and aid programmes to support the structural adjustment regimes of the World Bank and IMF.

Mythologies of debt relief

Four "myths" of debt relief were outlined in an article written in The Guardian in November, 1998, by Jack Boorman, Director of the IMF�s Policy Development and Review Department.

KANANASKIS G7 SUMMIT ISSUE BRIEFS (June 2002): The G8 is not our fate

An information kit containing 11 factsheets discussing different issues related to the G8, including what is the G8 and the New Partnership for Africa's Development.

KANANASKIS G7 SUMMIT ISSUE BRIEFS (June 2002): Extractive Industries and the Role of the World Bank

One of the most controversial areas of World Bank involvement is the financing of oil, gas and mining projects in developing nations. This brief describes World Bank involvement in these extractive industries, specifically the devastating effects of these projects on local people and the environment and the solutions put forward by nongovernmental organizations (NGOs) to correct these problems.

KANANASKIS G7 SUMMIT ISSUE BRIEFS (June 2002): New Strategies, Old Loan Conditions: The Case of Uganda

A growing chorus of critics from around the world have increasingly questioned the efficacy of World Bank and International Monetary Fund (IMF)-promoted economic policy reforms. As a result, the two institutions renewed vows to fight poverty at their annual meetings in Prague 2000. Uganda is viewed as pivotal to the success of much-publicized efforts to reform the institutions and their policies. Over 41 countries are in the pipeline for the adoption of similar policies, but is Uganda a success?

KANANASKIS G7 SUMMIT ISSUE BRIEFS (June 2002): Privatization – no debt relief for impoverished countries without it

Wealthy countries and the World Bank are forcing the privatization of public services and natural resources in Africa and elsewhere as a condition for development assistance. Impoverished countries are required to turn their public services and natural resources over to private owners.

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