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.
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.
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.
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.
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.
Market-led policy approaches increasingly used to deal with both climate and health emergencies are failing to protect those most vulnerable.
The world awaits to see whether Trump’s defeat will result in the end of the 'America First' approach and a democratisation of the IMF and World Bank and the multilateral system.
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
