Spring Meetings conclude with frantic calls for stronger multilateralism, but few advances in key issues such as Covid-19 unequal recovery, debt, inequality and climate crises, while Russia participation prevents G20, G24 and Development Committee from releasing a communique.
The G20 released a press briefing focused on the effects of Russia's war in Ukraine and the increasing need for multilateralism amidst walkouts, rising debt levels around the world, a new World Bank pandemic preparedness model, and the approval of RST and other sustainable finance models.
The IMFC issued a chair statement in place of a communiqué. It discussed a long list of challenges with focus on fallout from Ukraine invasion and climate change.
The communiqué for the V20 highlighted multitude of crises facing climate-vulnerable developing countries, with continuing challenges posed by the Covid-19 pandemic and unequally felt climate change impacts now being exacerbated by the spillover effects from the Ukraine war.
G24 finance ministers called for urgent global action to mitigate the effects of rising debt levels in emerging economies, and rising global food, energy and commodity prices.
War in Ukraine will have significant spillover effects as Global South continues to carry the burden of vaccine inequity. Debt, austerity and evolving food crisis key talking points of Meetings while unequal recovery, gender, RST and surcharges key issues at CSPF.
While the strategy's first concept note outlines an ambitious vision to mainstream gender across the Fund’s core operations, civil society emphasises that a deeper analysis of on the effects of Fund-endorsed policies on women’s rights is still missing.
RST must support low- and vulnerable middle-income countries to recover from the pandemic and tackle economic and climate-related structural challenges.
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.
This briefing raises critical questions on the latest developments in the IMF’s approach to gender.
Sponsor: World Bank Group Chairs: Merza Hasan (WB Executive Director, MENA Constituency), Lindsay Coates (Acting…
Information on the private sector and the CIFs taken from each section of CIF Monitor…
G24 communiqué (09 October): analysis, original document G20 finance ministers' communiqué (10 October): original document…
In July 2012 NGOs called on governments to pivot away from funding the Bank-housed Climate…
Climate Investment Funds Monitor 7 25 April 2013 This briefing, including references, can also be…
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.
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
