Analysis

IFI governance

Analysis

G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push

In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive and better capitalised MDBs.

24 April 2024

IFI governance

Analysis

V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens

V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.

24 April 2024

IFI governance

Analysis

IMFC chair’s statement analysis Spring Meetings 2024: Tinkering at the margins while global crises unfold  

IMFC chair’s relatively sanguine view of the global economy does not reflect the IMF’s own projection that the five-year global economic growth forecast is “at its lowest in decades”.

24 April 2024

IFI governance

Analysis

G24 communiqué analysis Spring Meetings 2024: Calls for reform, not protectionism

The Spring 2024 G24 communiqué puts pressure on the BWIs to use their influence where it’s needed, including calls to suspend and review surcharges, offer the biggest ever IDA replenishment, suppot the UN Tax Convention, and avoid protectionist policies.

24 April 2024

IFI governance

Analysis

Spring Meetings 2024 Wrap Up: Despite mounting crises, persistent lack of political will to match rhetoric with action remains

Urgent BWIs reforms remain hostage to lack of political will in Global North as the G20 failed to deliver on important issues within a fragmented geopolitical situation.

24 April 2024

IFI governance

Analysis

Development Committee chair’s statement analysis Spring Meetings 2024: Bank shareholder division hinders reforms required to address global challenges

Despite the Development Committee advocating for increased international cooperation, persistent geopolitical fragmentation constrains the much-needed reforms essential for addressing 21st-century challenges.

22 April 2024
IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga at the World Economic Forum Annual Meeting 2024 in Davos-Klosters, Switzerland, 17 January. Credit: World Economic Forum / Benedikt von Loebell

IFI governance

Analysis

Spring Meetings 2024 Preamble: Bretton Woods Institutions continue to sleepwalk through crises as 80th anniversary of Bretton Woods Conference approaches

At a time when transformative changes on governance and development financing are required, the World Bank and IMF have instead opted for a slimmed down Spring Meetings schedule.

11 April 2024
Artcover of the Observer Spring 2024, showing cartoons representing the IMF and World Bank shaking hands holding the EU and US flags respectively

IFI governance

Analysis

Undemocratic gentleman's agreement will further challenge next IMF managing director

EU countries’ backing of Kristalina Georgieva for a second term as IMF Managing Director will likely set in motion the next steps towards her reappointment, representing another lost opportunity to reform IMF governance.

9 April 2024

IFI governance

Analysis

IDA21: Moving beyond a focus on ‘historic’ replenishment

Calls for a ‘historic’ IDA21 replenishment risk diverting attention from the policy framework necessary for IDA to support countries to break their dependence on development finance and undertake the ecologically sustainable and just economic transformation long sought by their populations.

9 April 2024 | Guest analysis
Cash transfer in the town of Betafo. Credit: Mohammed Al-Arief / The World Bank

Social services

Analysis

Beyond the World Bank: The fight for universal social protection in the Global South

The World Bank Group promotes a model of social protection via poverty-targeted programmes that are error-strewn and can cause social unease, and set back progress towards universal social protection.

9 April 2024 | At Issue

Finance

Analysis

Opportunity lost: World Bank's Roadmap fails to chart path to better development outcomes

Civil society renews calls for an independent external evaluation of Bank policies ahead of Spring Meetings’ focus on the operationalisation of the Roadmap and a ‘historic’ IDA21 replenishment.

9 April 2024

Environment

Analysis

Gambling with the planet’s future? World Bank Development Policy Finance, ‘green’ conditionality, and the push for a private-led energy transition

BWP's review of energy sector conditionality in World Bank Development Policy Financing from fiscal years 2018 to 2023 reveals the Bank has followed a pattern of promoting neoliberal reforms in many countries' energy sectors, with climate action increasingly being viewed as the rationale for these changes.

9 April 2024 | Reports