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.
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.
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
As countries resume debt payment obligations amid unequal pandemic recovery CSOs call for debt cancellation and a multilateral debt workout mechanism.
IMF's position on capital controls must be revised to recognise that they are an essential and permanent macroeconomic tool necessary to increase countries' policy autonomy and enable them to act counter-cyclically and to prevent future debt crises.
G20 Common Framework left as the only multilateral mechanism for debt suspension, while private sector still refuses to engage.
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.
Private creditors provided with IMF backing in Argentina negotiations as country enters into default.
152 CSOs call demand World Bank halt its aggressive support of PPPs, publicaly recognise their significant risks.
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 opening plenary of the inaugural Global Infrastructure Forum, during the World Bank/IMF spring meetings 2016.
Notes from a PPP civil society strategy session taking place during the week of the World Bank/IMF annual meetings 2016.
Countries, including Russia and India, have continued to express concerns over the failure to complete the 2010 IMF quota reform.