The communique released by a joint committee tasked to advise the International Monetary Fund and World Bank on development issues outlines critical issues but lacks “concrete arguments and actions,” a watchdog group monitoring the two international lending institutions has noted.
“Job creation, economic instability, agriculture all get mentions, but no new proposals or agreements are detailed. Instead, the role of the private sector is highlighted several times, implying that solutions will need to be found outside of government action,” the Bretton Woods Project said in its analysis of the final communique of the IMF-World Bank Development Committee, which met in Washington last week as part of the annual IMF-World Bank meetings.
The Bretton Woods Project also criticized the communique’s lack of mention of efforts to continue internal reforms at the World Bank, including the review of the bank’s safeguards.
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