27 June 2008
The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week.
African Development Bank (AfDB):
ADB to invest $4.8 bln in agricultural development, Xinhua, June 25, 2008 (China View website) - The African Development Bank (ADB)plans to allocate 4.8 billion U.S. dollars from 2008 to 2010 for boosting agricultural development in Africa, ADB President Donald Kaberuka said here Wednesday.
Zambia takes first step towards construction of new power stations, Afriquenligne, June 24, 2008 (Afriiquenligne website) - The Zambian Electricity Supply Corporation (ZESCO), a state utility company, and the African Development Bank (AfDB) have signed an agre e ment for the provision of US$ 1.2 million for transaction advisory services over the cons truction of two hydro-electricity generating plants in southern Zambia.
AfDB Conference on African Agriculture, Global Food Crisis, African Press Organization, June 20, 2008 (APPO website) - The African Development Bank (AfDB) is to host an international conference on the revitalization of African agriculture in the face of the global food from 25 – 26 June in Tunis, Tunisia.
Asian Development Bank (ADB):
ADB: Asia needs sustainable cities, by Gillian Wong, Associated Press, June 25, 2008 (Sanitation Updates blog) - Asian countries need help to build cities that can cope with the region’s “unprecedented” urban expansion of more than 100,000 people a day over the next two decades, the Asian Development Bank said Wednesday.
ADB confirms Fiji activities, The Fiji Times, June 21, 2008 (The Fiji Times website) - The Asian Development Bank has confirmed that it is actively involved with Fiji under its own guideline of dealing with de-facto governments'
Inter-American Development Bank (IDB):
IADB signs $800 million loan contracts for Peru gas, Reuters, June 24, 2008 (Reuters website) - The Inter-American Development Bank signed finance loans totaling $800 million for Peru's liquefied natural gas project to export gas from the Camisea field, the Peruvian finance ministry said on Tuesday.
International Monetary Fund (IMF):
IMF Managing Director Discusses Regional Outlook and Role of Fund with Finance Ministers, The Financial, June 25, 2008 (The Financial website) - The Managing Director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, on June 24 met finance ministers from North and South America and the Caribbean to discuss the economic outlook and the IMF's role in the region.
Dominican Republic-IMF "monitoring agreement" sets no conditions, Dominican Today, June 25, 2008 (Dominican Today website) - As soon as president Leonel Fernandez begins his third term in office August 16 Dominican Republic will sign a "monitoring agreement" with the International Monetary Fund (IMF).
Europe stays out of IMF policy job contest, by Lesley Wroughton, Reuters, June 25, 2008 (Reuters website) - Europe, in an unprecedented break with tradition, has decided to stay out of the running to chair the International Monetary Fund's main policy-setting committee, IMF board and European sources said on Tuesday.
Rwanda: IMF in Poverty Reduction, The Monitor, June 24, 2008 (Allafrica.com) - The International Monetary Fund (IMF) has approved about $1.8m for a poverty reduction facility in Rwanda.
Turkey working on new IMF deal - econ minister, Reuters, June 24, 2008 (The Guardian website) - Turkey is continuing work on a new precautionary stand-by agreement with the International Monetary Fund (IMF), Economy Minister Mehmet Simsek told private broadcaster CNN Turk on Tuesday.
World Bank:
Uganda: Museveni Attacks World Bank, EU, by Kezio Musoke, The Monitor, June 27, 2008 (Allafrica.com) - President Yoweri Museveni yesterday blamed the World Bank and European Union for failing some investment projects in Uganda.
World Bank to help with Saudi loan plan-Zoellick, Reuters, June 23, 2008 (Reuters website) - The World Bank will work with Saudi Arabia to develop a proposed $500 million "Energy for the Poor" initiative to help impoverished nations cope with the rising cost of oil, bank President Robert Zoellick said on Monday.
The Chad-Cameroon Petroleum Development and Pipeline Project, Afrol News, June 22, 2008 (Afrol website) - The Chad-Cameroon Petroleum Development and Pipeline Project constitutes one of the greatest development projects started on African soil. It could enable the poverty-ridden, landlocked Chadian nation to embark on deep ploughing social development and poverty reduction. Critics are however loud and widespread.
Civil society blames World Bank, IMF and WTO, by Philip Ngunjiri, The East African, June 22, 2008 (The East African website) - The food crisis being experienced in Africa is due to the failure of three decades of market deregulation by the World Bank, the International Monetary Fund and the World Trade Organisation’s agricultural sector development model, a group of international NGOs have stated.
Save tigers from the World Bank, by Prerna Singh Bindra, India Naturally Blog, June 20, 2008 (Blogger website) - Why is India rejecting the World Bank’s new Tiger Conservation Initiative?
Groups Oppose World Bank Climate Investment Funds, Celsias, June 20, 2008 (Celsias website) - In the U.S., the U.N. is the favorite villain of right wingers, jingoists and conspiracy theorists. For international progressives, the villains of late (besides the entire Bush administration) have been the WTO, the IMF, and perhaps, the most egregious of them all, the World Bank.
World Bank warns Latam against food price controls, Reuters India, June 20, 2008 (Reuters website) - Latin American countries should think twice about imposing wide-ranging price controls on groceries to combat rising food price inflation, a policy that can backfire at a later date, the World Bank said on Friday.