Bretton Woods Project Annual Report 2023

21 February 2024 | Annual report (BWP)

Cover of BWPs' Annual Report 2023Despite hopes that social movements and global civil society efforts would bring about a more equitable global financial architecture, 2023 proved yet another difficult year: Once more, a US national, Ajay Banga, won the leadership race to the World Bank, running unopposed, while the Bank’s Evolution Roadmap process conspicuously avoided civil society calls for a review of World Bank policies’ development effectiveness and the introduction of a human rights policy. Calls for a bigger, not better, Bank seemed to prevail. On the Fund’s side, reports showed the IMF’s continued support for austerity measures that disproportionally disadvantage the poorest, and women and girls in particular, while the outcome of the 16th quota review proved the Fund’s unwillingness to engage in structural and equitable reform.

With the aim to address these challenges, in 2023 BWP continued its work as a watchdog of the World Bank and the IMF, supporting and amplifying the voices of critical civil society groups to capitalise on calls for substantive change. The Project focused its work on four key advocacy areas: Gender equality and macroeconomics, the environment, governance reform and accountability, and financialisation and human rights.

See our Annual Report here.