The G24 communiqué of the 2023 Spring Meetings left no doubt about the gravity of the state of global affairs, including rising extreme poverty, food insecurity, migration and forced displacement.
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Analysis
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2023: Division among Bank’s shareholders leaves ‘evolution roadmap’ at a cross-roads
Lack of consensus over Ukraine conflict meant Development Committee once again failed to agree a communiqué, with split also emerging over sources of funding for Bank’s expanded mission.
IFI governance
Analysis
G20 press briefing analysis Spring Meetings 2023: Deep divisions and limited ambitions hinder response to the polycrisis
Despite pressing global issues, including a mounting debt crisis in low- and middle-income countries, the G20 failed to release a communique following the meeting of its finance ministers on 13 April at the World Bank and IMF Spring Meetings.
IFI governance
Analysis
IMFC chair's statement analysis Spring Meetings 2023: Optimism and complacency at odds with growing desperation of Global South stakeholders
The IMFC again did not issue a communiqué as it could not agree on language on the war in Ukraine. A chair’s statement was issued in lieu of the communiqué and emphasised the resilience of the global safety net system, better than projected conditions and concerns about significant challenges.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2023: Climate vulnerable countries call for global financial architecture fit to tackle climate and debt emergencies
V20 called for substantive debt relief and increased concessional financing to help break vicious cycle of debt and Loss and Damage, and spur ‘climate-positive development’.
IFI governance
Analysis
Spring Meetings 2023 Wrap up: Bretton Woods Institutions fail to deliver a transformative ‘evolution’
In the absence of transformative reform blocked by geopolitical fragmentation, the World Bank and IMF continue addressing global challenges with short-term, misguided measures of trickledown economics and private sector over reliance.
IFI governance
Analysis
Spring Meetings 2023 Preamble: Threats to multilateral system and to achievement of development goals mount as hopes of substantive reform at World Bank and IMF wane
Spring Meetings unlikely to deliver structural reforms required to respond to worsening polycrisis, as Global North-driven World Bank reform set to divert attention from poverty and inequality and geopolitical tensions dampen hopes of new SDR allocation and IMF quota reform.
IFI governance
Analysis
Democratic deficit in World Bank presidential appointment: Where is the evolution?
The World Bank Group needs to address its democratic deficit and lack of accountability. As it prepares to elect a new president and implement its “evolution roadmap”, it should use these key opportunities to embrace a profound reform.
Other news
Finance
Analysis
Our world in 2020
As the Covid-19 pandemic exacerbated and helped reveal pre-existing injustices and structural flaws in the global economy - and the IMF and World Bank proved unable to reverse course on broke policy prescriptions - calls for reforming the international financial and development architecture gained strength.
Gender
Analysis
The IMF and Gender Equality: Operationalising Change
This briefing raises critical questions on the latest developments in the IMF’s approach to gender.
IFI governance
Analysis
CSO roundtable with World Bank Group executive directors
Sponsor: World Bank Group Chairs: Merza Hasan (WB Executive Director, MENA Constituency), Lindsay Coates (Acting…
Environment
Analysis
CIFs and the private sector
Information on the private sector and the CIFs taken from each section of CIF Monitor…
IFI governance
Analysis
Annual meetings 2014: communiqués coverage
G24 communiqué (09 October): analysis, original document G20 finance ministers' communiqué (10 October): original document…
Environment
Analysis
NGOs call for halt of World Bank’s climate initiatives
In July 2012 NGOs called on governments to pivot away from funding the Bank-housed Climate…
Environment
Analysis
CIFs Monitor: past issues
Climate Investment Funds Monitor 7 25 April 2013 This briefing, including references, can also be…
Accountability
Analysis
Submission to the International Development Committee of the UK parliament: inquiry into the World B
The UK should not increase its contribution to IDA in the current replenishment. Instead, it should focus on achieving substantial reforms of the World Bank and IFC in key areas, including health, gender, climate and energy, and the private sector, and in radically improving the legitimacy, transparency and accountability of the institution.
Featured briefings
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.