Notes from the Civil Society Policy Forum on 11 October 2023 titled, "An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade."
Incremental changes paper over deficiencies of status quo, as civil society calls for the radical change required to meet the moment.
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
The Annuals 2023 G24 communiqué for reiterates an urgent need for financial support from both the IMF and World Bank for indebted countries, whilst also supporting reform through quotas, a new SDR allocation & surcharge abolishment and review.
The Group of 20 (G20) communiqué was published on 13 October. It focused on the consequences of the evolving debt situation, reaffirmed support for the much-criticised Common Framework and was silent on debt relief. The section on MDB reform meanwhile stressed ‘bigger’ rather than ‘better’ banks.
The Development Committee met on 12 October, with the chair issuing a statement, instead of a communiqué, reflecting the views of the majority of shareholders on the measures needed to tackle the development challenges that “have upended decades of hard-won development progress, and the development.”
Divisions once again prevented the IMFC from issuing a communiqué. The chair issued a statement that promised much but delivered little, supporting a third Sub-Saharan African chair on the IMF’s executive board, but kicking key reforms like quota realignment and a discussion on surcharges down the road.
Notes from the Civil Society Policy Forum on 12 October 2023 titled, "The B-Ready Project: A significant departure from the Doing Business Report?"
Notes from the Civil Society Policy Forum Session 'African perspectives on the reforms of the international financial architecture' on 11 October 2023.
Notes from the Civil Society Policy Forum on 10 October 2023 titled "Transformative policy pathways: Lessons from feminist economics programming for the IMF."