*Interpretation will be available in Spanish and French*

The global debt crisis, the Covid-19 pandemic and the climate emergency are all contributing to increase the influence of international financial institutions, especially the World Bank (WB) and the International Monetary Fund (IMF), on the fiscal and policy space of developing countries. In turn, this is giving new life to the use of conditionality as critical instrument to nudge countries towards policy reforms that fit the blueprint of the IMF and the WB.

This open session will provide a historical perspective on the role of conditionality in WB and IMF lending, showing how they continue to be an instrument of undue influence, including in the context of the Covid-19 recovery.

It will present the tensions that currently surround the use of conditionalities (including with regards to issues of corruption and transparency) and it will provide an open space for discussion towards a resolution of these tensions.

Guest speakers include CSO and academic experts on conditionality, while Chiara Mariotti will present findings of Eurodad’s recent research on the WB Development Policy Finance: ‘The policy lending doctrine’.

Speakers:

• Luiz Vieira, Bretton Woods Project (Moderator)
• Dr Alexander Kentikelenis, Associate Professor, Bocconi University, Italy
• Don K. Marut, lecturer on International Relations at Bina Nusantara University, Indonesia
• Wangari Kinoti, International Policy Advisor, ActionAid, Kenya
• Chiara Mariotti, Eurodad

Background documents

‘The policy lending doctrine’ 2021

‘Flawed Conditions’ 2019

‘Repeat Prescription’ 2020

‘How international financial institutions and donors influence economic policies in developing countries’, 2016

‘Conditionally yours: An analysis of the policy conditions attached to IMF loans - Eurodad’, 2014

‘Conditionality in World Bank crisis-lending to Ghana’ 2010

‘World Bank and IMF conditionality: a development injustice’, 2006