An analysis of the World Bank’s Policy Research Report (PRR) from a gender perspective and a contribution to an e-mail discussion on it. Looks at whether the latest draft has addressed the failings of an earlier version. Focuses on the notion of non-contractable labour; the household as a unit of analysis; motivated family labour; the consequences of default; equity and poverty reduction strategies; bringing women’s rights onto the agenda. Concludes that the changes are largely superficial and that Report’s fundamental assumptions remain intact and threaten to worsen rather than ameliorate women’s position.