CSOs urge the G7 to take action to support debt-distressed economies by calling for the International Monetary Fund (IMF) to immediately end its harmful surcharge policy.
International Monetary Fund (IMF)
BWP seeks a project lead to manage its Strengthening Accountability in the Global Economy Project, which will seek to promote improved governance and equity at the World Bank and IMF.
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.
Notes from the 11 April Civil Society Policy Forum - The IMF’s Resilience and Sustainability Trust: Can an IMF-managed SDRs trust deliver inclusive & sustainable recoveries?
Notes from Civil Society Policy Forum event on April 13, 2022 on "Are We Heading Towards and Austerity-Based Recovery?"
Notes from Civil Society Policy Forum event on 13 April 2022 titled 'The IMF Gender Strategy - Making the Economy Work for Women?'
Notes from Civil Society Policy Forum event on 8 April 2022 titled 'Did Pandemic Spending Go towards a Feminist People’s Recovery in Africa and Latin America?'
CSOs write an open letter to IMF management calling for increased public scrutiny of Fund's operationalisation of 2021 Comprehensive Surveillance Review.
Notes from the 7 April Civil Society Policy Forum - The future is public: Prioritizing public services in the light of Covid and climate change.
Over 160 civil society organizations from around the world are calling on the International Monetary Fund (IMF) to end the “unfair” and “counterproductive” surcharges attached to its lending to the most heavily indebted countries. The open letter was sent to the IMF Executive Board on 7 April ahead of the 2022 IMF and World Bank’s Spring Meetings.
IMF announces leadership changes as Gita Gopinath promoted to First Deputy Managing Director, Pierre-Olivier Gourinchas named Chief Economist, and Nadia Calviño heads IMFC.