The Spring 2024 G24 communiqué puts pressure on the BWIs to use their influence where it’s needed, including calls to suspend and review surcharges, offer the biggest ever IDA replenishment, suppot the UN Tax Convention, and avoid protectionist policies.
Civil society renews calls for an independent external evaluation of Bank policies ahead of Spring Meetings’ focus on the operationalisation of the Roadmap and a ‘historic’ IDA21 replenishment.
UN Secretary General’s New Agenda for Peace report identifies growing threats to global peace and stability, and proposes urgent reforms to the unjust economic system. World Bank and IMF resist policy and governance reform.
The Annuals 2023 G24 communiqué for reiterates an urgent need for financial support from both the IMF and World Bank for indebted countries, whilst also supporting reform through quotas, a new SDR allocation & surcharge abolishment and review.
The G24 communiqué of the 2023 Spring Meetings left no doubt about the gravity of the state of global affairs, including rising extreme poverty, food insecurity, migration and forced displacement.
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.
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
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.
