Rich countries agree to provide a paltry $300 billion in public finance by 2035 including funds channelled through MDBs, as Small Island States and Least Developed Countries stage walkout.

Rich countries agree to provide a paltry $300 billion in public finance by 2035 including funds channelled through MDBs, as Small Island States and Least Developed Countries stage walkout.
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
IMF proposes a grassroots communication strategy to convince the public of the need for further austerity measures as publications reveal fear that social unrest will make reforms ‘unimplementable’.
The 2024 World Bank and IMF Annual Meetings, taking place in the context of the institutions’ 80th anniversary, offered little substantive reform despite multiple ongoing organisational processes and reviews.
Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural failures.
At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.
G24 calls for robust multilateral response to debt, development and climate crises, arguing the IMF and World Bank must continue reform in order to maintain legitimacy and fulfil their mandate.
Chair’s statement calls for a ‘pivot’ to fiscal consolidation and announces possible approaches to guide further quota realignment by June 2025. In contrast, China’s statement calls for work to begin on alignment even without resolution of 16th quota review.
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.
The World Bank’s new Corporate Scorecard misses the forest for the trees as it lacks an indicator to measure the Bank’s contribution to economic transformation, a cornerstone of its development mandate.
Youth-led led protests lead to withdrawal of controversial finance bill by President William Ruto.