UN Human Rights Council’s Seventh Intersessional Meeting calls for states to use FfD4 to agree reforms that enable states to deliver on their human rights obligations.
V20
IFI governance
Analysis
Annual Meetings 2024 Wrap-up - Don’t look back: BWIs plough down path of reforms lacking evidence and willingness to engage with broader UN-led reform processes
The 2024 World Bank and IMF Annual Meetings, taking place in the context of the institutions’ 80th anniversary, offered little substantive reform despite multiple ongoing organisational processes and reviews.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
IFI governance
Analysis
Annual Meetings 2024 Preamble: BWIs’ management and key shareholders stand in the way of transformative governance reforms despite ‘evolution’ rhetoric
Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens
V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
Finance
News
Significant IDA21 replenishment required as need for concessional finance grows
Rich countries need to agree to an ambitious IDA21 replenishment to address compounding economic and liquidity crises, causing high levels of debt distress in low-income countries.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2023: Climate vulnerable countries call for global financial architecture fit to tackle climate and debt emergencies
V20 called for substantive debt relief and increased concessional financing to help break vicious cycle of debt and Loss and Damage, and spur ‘climate-positive development’.
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
IMF quota review: Putting climate at the core of IMF governance reform
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
Environment
Commentary
Bridgetown Initiative calls for new Global Climate Mitigation Trust financed via Special Drawing Rights
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2022: Climate vulnerable countries call for debt relief and a revamped IMF
The finance ministers for the Vulnerable Group of Twenty, a bloc of 58 developing country economies representing some 1.5 billion people, issued a communiqué on 16 October.
