Global architecture

IFI governance

Analysis

Spring Meetings 2024 Wrap Up: Despite mounting crises, persistent lack of political will to match rhetoric with action remains

Urgent BWIs reforms remain hostage to lack of political will in Global North as the G20 failed to deliver on important issues within a fragmented geopolitical situation.

24 April 2024
Artcover of the Observer Spring 2024, showing cartoons representing the IMF and World Bank shaking hands holding the EU and US flags respectively

IFI governance

Analysis

Undemocratic gentleman's agreement will further challenge next IMF managing director

EU countries’ backing of Kristalina Georgieva for a second term as IMF Managing Director will likely set in motion the next steps towards her reappointment, representing another lost opportunity to reform IMF governance.

9 April 2024

Finance

Commentary

Better ways to reduce the pain of debt crises for developing countries?

Amid challenging global conditions, proposals to address liquidity issues must be urgently matched by a reformed, development-focused international financial architecture.

9 April 2024 | Guest comment

Finance

Analysis

Opportunity lost: World Bank's Roadmap fails to chart path to better development outcomes

Civil society renews calls for an independent external evaluation of Bank policies ahead of Spring Meetings’ focus on the operationalisation of the Roadmap and a ‘historic’ IDA21 replenishment.

9 April 2024

IFI governance

News

Civil society calls for an end to the 'gentleman's agreement' and a merit-based, open and transparent MD selection process

Civil society calls for the IMF to ensure the next MD selection process is undertaken in accordance with a merit-based, open and transparent process, underpinned by criteria involving a demonstrated commitment to international human rights, feminist principles, green and equitable development, as well as  publicly available shareholder votes.

26 March 2024 | Letters

IFI governance

News

Civil society calls for a meaningful Quota Reform that accurately reflects the changes in the global economy to ensure a fair representation of all member countries

Civil society calls upon the IMF to implement a meaningful quota reform by June 2025 and prioritise realignment of shares to reflect more accurately the changes in the global economy and address representation issues

18 December 2023 | Letters

Finance

Analysis

Decolonising the global economic architecture: The prerequisite for a just transition

Global South faces severe structural deficiencies that weaken its economic sovereignty and put it at the mercy of a neo-colonial global financial architecture.

13 December 2023

Finance

Analysis

UN Secretary General's New Agenda for Peace calls for urgent financial architecture and policy reform

UN Secretary General’s New Agenda for Peace report identifies growing threats to global peace and stability, and proposes urgent reforms to the unjust economic system. World Bank and IMF resist policy and governance reform.

13 December 2023

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.

13 December 2023

Finance

News

Civil society urges governments to agree on a UN tax body as a high priority

African Group’s proposal for a UN Tax Convention moves forward as CSOs keep pressure on rich countries not to block it.

13 December 2023