Global architecture

Leaders of the African Union proposed that the International Monetary Fund consider issuing $650 billion in SDRs to combat the climate crisis. Africa Climate Summit 2023, 5 September 2023.

Finance

News

The 2021 SDR allocation was beneficial for the global economy, but was it sufficient to address the scale of the crisis?

IMF’s new report looking at the impact of the $650 billion SDR allocation in 2021 talks about the benefits of the allocation for the global economy but fails to address the scale of the polycrisis.

4 October 2023
Protest at COP27, celebrated in Sharm el-Sheikh, Egypt in November 2022. Credit: Oliver Kornblihtt / Mídia NINJA

Finance

Analysis

Assessing the Bretton Woods Institutions’ legacy

New collection of critical essays by authors from MENA and Sub-Saharan Africa do a retrospective of the BWIs involvement in the region, and the legacy of BWIs-supported unjust and extractionist world economic order.

3 October 2023 | Briefings

Finance

Analysis

Reconceptualising Special Drawing Rights as a tool for development finance

Briefing examines the shortcomings of the current SDRs allocation system and calls to reform SDRs to ensure their targeted, needs-based and equitable distribution. 

2 October 2023 | Briefings

Finance

Analysis

UN Financing for Development: The best chance to democratise global economic governance?

As Bretton Woods Institutions fail to deliver transformative, systematic reform of deeply unequal global architecture, countries should embrace a more democratic space: the United Nations Financing for Development process

19 July 2023 | Guest analysis

Finance

News

African finance ministers join growing calls for more equitable SDR allocations

New calls for SDR reform reveal acute need of financing for low- and middle-income countries to achieve the Sustainable Development Goals.

19 July 2023

Finance

News

A different ‘evolution roadmap’: Havana conference calls for changes in world order hierarchy

As IMF and World Bank tinker at margins, 50 policymakers, diplomats and academics from over 26 countries issue Havana Declaration calling for an assertion of Southern power and the building of a new "planetary bloc".

5 April 2023

Finance

Analysis

World Bank Group Evolution: Technical fixes or urgently needed reform?

World Bank Evolution Roadmap’s proposed superficial technical patches favouring the ‘logic’ of the market will likely fail to deliver the structural changes needed to support borrowing countries amidst global crises.

19 July 2023 | At Issue

Finance

Analysis

Civil Society calls for rethink of World Bank’s ‘evolution roadmap’ as part of wider reforms to highly unequal global financial architecture

Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.

3 July 2023 | Briefings

Finance

Analysis

G20 review calls for increased MDB lending as World Bank ignores urgent need for policy changes

G20 independent review calls for increased lending by multilateral development banks to address multiple crises, but lack of reform in World Bank crises response framework raises concerns about how it would use additional resources.

4 October 2022
Protesters in Washington DC during 2021 IMF and World Bank Annual Meetings. Credit: Phi Pasqualini/ Shutterstock

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