An IMF governance reform deal agreed in November 2010 (see Update 73) has been stalled by US Congress’ failure to grant it approval. The deal, which gives emerging markets greater voting shares as well as requiring that all IMF board members be democratically elected, will not pass until at least November as Congress is now in recess for the US elections. As the US has 17 per cent of IMF votes, the deal cannot pass without US approval, ensuring that the original mid October deadline will be missed. Charles Kenny of the Washington think tank Centre for Global Development claimed “the threat of losing worldwide economic dominance has left the US too scared to engage constructively in building up global institutions”.
BWP briefing explores gender dimensions of IMF’s key fiscal policy advice on resource mobilisation in developing countries, in particular on Value-Added Tax.
The IFC’s push for the PPP model, as well as its preference for healthcare ‘provision’ and the results-based payment approach, collectively undermine the human right to universal healthcare and the achievement of the SDGs.
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