World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
The finance ministers for the Vulnerable Group of Twenty, a bloc of 58 developing country economies representing some 1.5 billion people, issued a communiqué on 16 October.
G24 communiqué echoes calls for more drastic measures by international financial institutions to cushion the blow for low- and middle-income countries in the face of compounding global crises.
The Indonesian Minister of Finance Sri Mulyani Indrawati acknowledged the G20 faced "many challenges" and "differences in view", with "escalating geopolitical conflicts worsening the economic situation.”
G20 independent review calls for increased lending by multilateral development banks to address multiple crises, but lack of reform in World Bank crises response framework raises concerns about how it would use additional resources.
Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.
Private creditors provided with IMF backing in Argentina negotiations as country enters into default.
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.
Notes from the IMF and World Bank 2019 Spring Meetings official session on 14 April on international taxation challenges in Africa.
Notes from the Civil Society Policy Forum event on 10 April, which looked at sustainable infrastructure from fiscal, rights and climate lenses.
Notes from the Civil Society Policy Forum session on 12 April on the changing international tax landscape from a feminist perspective and challenging IFIs’ role in shaping it at the World Bank and IMF's 2019 Spring Meetings.
152 CSOs call demand World Bank halt its aggressive support of PPPs, publicaly recognise their significant risks.
Notes from a PPP civil society strategy session taking place during the week of the World Bank/IMF annual meetings 2016.