As the Covid-19 pandemic exacerbated and helped reveal pre-existing injustices and structural flaws in the global economy - and the IMF and World Bank proved unable to reverse course on broke policy prescriptions - calls for reforming the international financial and development architecture gained strength.
Analysis of the G20 communiqué published on 7 April from the 2021 World Bank and IMF virtual Spring Meetings.
New common framework for debt relief announced at G20 Leaders’ Summit maintains prominent role of IMF and fails to include World Bank debt relief.
Analysis of the IMFC communiqué, issues on 15 October, from the 2020 World Bank and IMF virtual Annual Meetings.
As the inability of Bank and Fund to adapt their policies in response to the Covid-19 pandemic becomes more evident, hope turns to the UN system and a radical restructure of the global international financial architecture.
As G20 gears up to take critical decisions on international financial response to Covid-19, the consequences of overly rosy IMF forecasts are potentially more costly than ever.
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking.
Early evidence suggests IMF programmes are maintaining long-term fiscal consolidation targets, while World Bank further continues Maximizing Finance for Development narrative amidst Covid-19 crisis.
IMF fails to respond to loan requests from Iran and Venezula as they struggle to respond to increasing Covid-19 cases and deaths.
Analysis of this year's World Bank and IMF Spring Meetings: With international response to Covid-19 mired in geopolitical manoeuverings and resistance to systemic change, calls for alternatives grow.
Renewed calls for a substantial SDR allocation raise urgency of reforming the inequitable global reserve ‘non-system’.
