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.
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G7
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.
Rights
News
A new SDR allocation: Combatting deepening fragility concerns
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.
Finance
Commentary
Quota reform needed at IMF in order to address 21st century challenges
As economic conditions worsen and the Fund's legitimacy comes under increasing pressure, IMF leaders gathering for the Annual Meetings must make progress on ongoing review of IMF quotas and agree a more equitable formula and distribution of voting power.
Finance
Analysis
A new Bretton Woods for whom? Civil society calls for democratisation of global governance
As geopolitical tensions rise amidst worsening global economic conditions, civil society demands the democratisation of a world economic order away from the established Global North and elite capitalist hegemony.
IFI governance
Analysis
Development Committee communiqué analysis - Annual Meetings 2021
The Development Committee communiqué was published on 15 October. It acknowledged an uneven and uncertain path to recovery, while it kept silent on the need for a TRIPS waiver of the Covid-19 vaccines and said little about the IMF’s new $650 billion allocation of SDRs.
Finance
News
To support the global economy, G7 should call for IMF to remove harmful surcharges
CSOs urge the G7 to take action to support debt-distressed economies by calling for the International Monetary Fund (IMF) to immediately end its harmful surcharge policy.
IFI governance
Analysis
Gambling with our lives: Global emergencies expose consequences of decades of IMF and World Bank policies
Market-led policy approaches increasingly used to deal with both climate and health emergencies are failing to protect those most vulnerable.
