Statement November 27, 2017 Letter to the WB on Amaravati Case of Inspection Panel To The Executive Directors, The World Bank Washington DC Dear Executive Directors, We, the representatives of people’s movements, civil society organisations, and concerned citizens, write to the Board of World Bank Group to draw your urgent attention to a few critical …
Continue reading Letter to the WB on Amaravati Case of Inspection Panel
By Nancy Alexander This year, the G20 Finance Ministers and Central Bank Governors’ Meeting on October 12-13 overlapped with the IMF-World Bank annual meeting on October 13-15 in Washington, DC. As of December 1, 2017, Argentina becomes G20 President with the past and future Presidents (Germany and Japan, respectively) as part of the G20 Troika. …
Continue reading IMF and World Bank: Marching to a G20 Tune?
~ Maju Varghese Every year, India pays an enormous amount of money as commitment charges to the multilateral institutions for not utilising the loans sanctioned by them. Investopedia defines commitment charges as the fee charged by the lender to a borrower for an unused or un-disbursed loan since it has set aside the funds for the …
Continue reading India paid over 600 crores between 2009-2015 to the IFIs for not using their loans
After a Judge declared World Bank immunity cases “wrongly decided,” the communities affected by the Tata Mundra project approach US court to review “absolute immunity” doctrine Communities harmed by Tata Mundra coal power plant in India continue to seek justice from World Bank Group’s International Finance Corporation July 26, 2017, Washington, D.C., and Mundra: After …
~ Joe Athialy With Subhash Chandra Garg assuming charge as secretary of the Department of Economic Affairs (DEA) in the Finance Ministry, the position of the Indian Executive Director (ED) at the World Bank has fallen vacant. The 1983-batch IAS officer of Rajasthan cadre, Garg was the ED at the World Bank from Nov 2014 until June 2017. …
Continue reading Appointment of a new Indian ED at the World Bank raises a few questions
By Maju Varghese The Constitution of India has accorded the Parliament the supremacy among the three organs of the Union government viz legislature, executive, and judiciary. Parliament not only makes the laws but also enables the citizens to participate in controlling the government. The Parliament applies various oversight mechanisms to ensure transparency and accountability in …
Working Group on IFIs 