Debt

Finance

News

UN letter of allegation outlines concerns about the impact of IMF surcharge policy on human rights

Civil society urges IMF to reply to UN letter and finally take action to review its surcharge policy.

8 December 2022

Finance

News

Egypt reaches agreement for IMF programme, but proposals for debt relief are still lacking

Egypt’s new EFF program will likely deepen the country’s debt crisis, instead of helping improve its socioeconomic conditions.

8 December 2022

Finance

News

Chad gets debt rescheduling, not relief, and is left dependent on oil revenues

Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.

8 December 2022

Finance

Commentary

Civil society organizations urge end to IMF surcharges to finance climate action instead

More than 300 organisations and individuals call upon the IMF to urgently address one of the most glaring and easily rectifiable contradictions between its stated support for a just transition and its actions by immediately ending its surcharge policy. 

22 November 2022 | Letters

Finance

News

Debt overhang risks another lost decade and could derail progress on poverty reduction and SDGs

Over 60 per cent of low-income countries and more than 25 percent of emerging market economies are in or at risk of debt distress, and are in danger of being unable to fulfil their fiscal obligations.

8 December 2022

Finance

Analysis

Monetary power and sovereign debt crises: The renewed case for a sovereign debt restructuring mechanism

The sovereign debt crises threatening states in the Global South are less about fiscal mismanagement and more about monetary power in the global currency hierarchy.

4 October 2022 | At Issue

Finance

Analysis

IMF debt sustainability analysis in times of compounding crises: Still unfit for purpose

New IMF debt sustainability framework fails to alleviate concerns over transparency and overoptimism in midst of large-scale debt crisis, as countries face severe austerity and private lenders wait for bailouts.

4 October 2022

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.

4 October 2022 | Guest comment

Environment

News

Pakistan calls for climate reparations, as CSOs push for fresh SDR allocation to ease multiple crises

Non-debt forms of financing essential, as many countries on front line of climate change face ‘polycrisis’ that threatens macroeconomic stability.

4 October 2022

Social services

News

World Bank issues new guidance on PPPs legal frameworks, ignoring long-standing concerns with the model

New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.

4 October 2022