IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance

IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
This Inside the Institutions looks at the issue of surcharges, which are additional interest payments the IMF imposes on countries with large, outstanding debts to the IMF.
Civil society rejects new Agreement arguing IMF loan will be used to pay odious debt and result in reforms damaging to human rights.
As countries resume debt payment obligations amid unequal pandemic recovery CSOs call for debt cancellation and a multilateral debt workout mechanism.
The country – reeling from the Russia invasion – owes a total of $22 billion to the IMF, World Bank and other international financial institutions.
Over 250 civil society experts urge the IMF to eliminate its punitive surcharges on countries in debt distress as they undermine an equitable economic recovery and exacerbate the global debt crisis.
IMF's position on capital controls must be revised to recognise that they are an essential and permanent macroeconomic tool necessary to increase countries' policy autonomy and enable them to act counter-cyclically and to prevent future debt crises.
Climate-for-debt swaps mechanism proposed by IMF fails to materialise, while rich countries' climate finance commitments remain unmet.
G20 Common Framework left as the only multilateral mechanism for debt suspension, while private sector still refuses to engage.
Controversial loan from IMF could force country into severe spending cuts.