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.
International Monetary Fund (IMF)
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider 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.
IFI governance
Analysis
G24 communiqué analysis Annual Meetings 2024: calls for robust multilateral response to mounting risk and global crises
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.
IFI governance
Analysis
IMFC chair’s statement analysis Annual Meetings 2024: a fiscal consolidation “pivot” as IMF struggles to get its house in order
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.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
IFI governance
Background
Arab voices for sustainable development financing: rights-based approaches to addressing the debt tax-climate crises
Notes from the Civil Society Policy Forum on 24th October 2024 titled "Arab Voices for Sustainable Development Financing: Rights-Based Approaches to Addressing the Debt Tax-Climate Crises".
IFI governance
Background
Evidence based analysis of the implementation of anti IFFs policies in Africa- Lessons from the policy tracker project
Notes from Civil Society Policy Forum on 23 October titled "Evidence based analysis of the implementation of Anti IFFs policies in Africa- Lessons from the policy tracker project".
IFI governance
Background
Taxing the super-rich, a step closer
Notes from a Civil Society Policy Forum SPF on 22 October 22 titled "Taxing the super-rich, a step closer".
IFI governance
Analysis
Annual Meetings 2024 Preamble: BWIs’ management and key shareholders stand in the way of transformative governance reforms despite ‘evolution’ rhetoric
Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.
Conditionality
Analysis
Kenya's growing youth movement for fiscal justice rejects IMF-mandated austerity
Youth-led led protests lead to withdrawal of controversial finance bill by President William Ruto.
Finance
Analysis
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
Finance
Background
What is the World Bank & IMF debt sustainability framework for low-income countries?
This Inside the Institutions examines the joint World Bank and IMF Debt Sustainability Framework (DSF) for low-income countries (LICs) and evaluates its impact on LICs’ ability to maintain fiscal space for development and climate goals.
Featured briefings
16 October 2024
The Bretton Woods Observer: Autumn 2024
16 October 2024
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
1 October 2024