As Bretton Woods Institutions fail to deliver transformative, systematic reform of deeply unequal global architecture, countries should embrace a more democratic space: the United Nations Financing for Development process
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G20
IFI governance
Analysis
G20 press briefing analysis Spring Meetings 2023: Deep divisions and limited ambitions hinder response to the polycrisis
Despite pressing global issues, including a mounting debt crisis in low- and middle-income countries, the G20 failed to release a communique following the meeting of its finance ministers on 13 April at the World Bank and IMF Spring Meetings.
IFI governance
Analysis
Spring Meetings 2023 Wrap up: Bretton Woods Institutions fail to deliver a transformative ‘evolution’
In the absence of transformative reform blocked by geopolitical fragmentation, the World Bank and IMF continue addressing global challenges with short-term, misguided measures of trickledown economics and private sector over reliance.
IFI governance
Analysis
Spring Meetings 2023 Preamble: Threats to multilateral system and to achievement of development goals mount as hopes of substantive reform at World Bank and IMF wane
Spring Meetings unlikely to deliver structural reforms required to respond to worsening polycrisis, as Global North-driven World Bank reform set to divert attention from poverty and inequality and geopolitical tensions dampen hopes of new SDR allocation and IMF quota reform.
IFI governance
Analysis
Democratic deficit in World Bank presidential appointment: Where is the evolution?
The World Bank Group needs to address its democratic deficit and lack of accountability. As it prepares to elect a new president and implement its “evolution roadmap”, it should use these key opportunities to embrace a profound reform.
Finance
Analysis
The global financial architecture and the international debt crisis: An urgent call for reform
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.
IFI governance
Analysis
G20 press briefing analysis Annual Meetings 2022: Challenges and differences in view, as escalating geopolitical conflicts worsen the economic situation
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.”
Finance
Analysis
G20 review calls for increased MDB lending as World Bank ignores urgent need for policy changes
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.
Other news
Finance
News
A different ‘evolution roadmap’: Havana conference calls for changes in world order hierarchy
As IMF and World Bank tinker at margins, 50 policymakers, diplomats and academics from over 26 countries issue Havana Declaration calling for an assertion of Southern power and the building of a new "planetary bloc".
Finance
News
Chad gets debt rescheduling, not relief, and is left dependent on oil revenues
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.
Finance
Analysis
Our world in 2020
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.
Finance
Background
Taxing to Develop: International Taxation Challenges for Africa
Notes from the IMF and World Bank 2019 Spring Meetings official session on 14 April on international taxation challenges in Africa.
Finance
News
Argentina increases offer to bondholders after IMF claims “room for improvement”
Private creditors provided with IMF backing in Argentina negotiations as country enters into default.
Infrastructure
Background
Sustainable Infrastructure: Aligning with Rights and the SDGs
Notes from the Civil Society Policy Forum event on 10 April, which looked at sustainable infrastructure from fiscal, rights and climate lenses.
Private Sector
News
CSOs call on World Bank to halt its aggressive support of PPPs
152 CSOs call demand World Bank halt its aggressive support of PPPs, publicaly recognise their significant risks.
Social services
Background
PPP civil society strategy session
Notes from a PPP civil society strategy session taking place during the week of the World Bank/IMF annual meetings 2016.
Featured briefings
19 July 2023
The Bretton Woods Observer: Summer 2023
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
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.