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.
New common framework for debt relief announced at G20 Leaders’ Summit maintains prominent role of IMF and fails to include World Bank debt relief.
Market-led policy approaches increasingly used to deal with both climate and health emergencies are failing to protect those most vulnerable.
Community demands reparations from World Bank for murder of South African environmental activist Fikile Ntshangase for opposing the Tendele coal mine initially financed by IFC.
The world awaits to see whether Trump’s defeat will result in the end of the 'America First' approach and a democratisation of the IMF and World Bank and the multilateral system.
The rising power of the private sector has undermined debt justice and much-needed pandemic response capacity, while IFIs' calls for sustainable recovery at the Annual Meetings fall flat.
Analysis of the G20 communiqué published on 14 October from the 2020 World Bank and IMF virtual Annual Meetings.
Analysis of the Development Committee communiqué published on 16 October from the 2020 World Bank and IMF virtual Annual Meetings.
Analysis of the IMFC communiqué, issues on 15 October, from the 2020 World Bank and IMF virtual Annual Meetings.
Analysis of the G24 communiqué released on 13 October.
As the inability of Bank and Fund to adapt their policies in response to the Covid-19 pandemic becomes more evident, hope turns to the UN system and a radical restructure of the global international financial architecture.
Implementation in full of the independent review of IFC, MIGA and CAO is essential if institutions are to meet persistent accountability and remedy gaps.
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.
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.
