Notes from Civil Society Policy Forum panel on 12 April titled "IFI reform, Bridgetown & climate finance: Critical civil society perspectives."
Spring/Annual meetings
IFI governance
Analysis
G24 communiqué analysis Spring Meetings 2023: In a world in crisis, BWIs need bold reform
The G24 communiqué of the 2023 Spring Meetings left no doubt about the gravity of the state of global affairs, including rising extreme poverty, food insecurity, migration and forced displacement.
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2023: Division among Bank’s shareholders leaves ‘evolution roadmap’ at a cross-roads
Lack of consensus over Ukraine conflict meant Development Committee once again failed to agree a communiqué, with split also emerging over sources of funding for Bank’s expanded mission.
IFI governance
Analysis
G20 press briefing analysis Spring Meetings 2023: Deep divisions and limited ambitions hinder response to the polycrisis
Despite pressing global issues, including a mounting debt crisis in low- and middle-income countries, the G20 failed to release a communique following the meeting of its finance ministers on 13 April at the World Bank and IMF Spring Meetings.
IFI governance
Analysis
IMFC chair's statement analysis Spring Meetings 2023: Optimism and complacency at odds with growing desperation of Global South stakeholders
The IMFC again did not issue a communiqué as it could not agree on language on the war in Ukraine. A chair’s statement was issued in lieu of the communiqué and emphasised the resilience of the global safety net system, better than projected conditions and concerns about significant challenges.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2023: Climate vulnerable countries call for global financial architecture fit to tackle climate and debt emergencies
V20 called for substantive debt relief and increased concessional financing to help break vicious cycle of debt and Loss and Damage, and spur ‘climate-positive development’.
IFI governance
Analysis
Spring Meetings 2023 Wrap up: Bretton Woods Institutions fail to deliver a transformative ‘evolution’
In the absence of transformative reform blocked by geopolitical fragmentation, the World Bank and IMF continue addressing global challenges with short-term, misguided measures of trickledown economics and private sector over reliance.
IFI governance
Background
Voices of the Global South: Taxation and polycrisis
Notes from Civil Society Policy Forum event on April 14 2023 titled "Voices of the Global South: Taxation and polycrisis"
IFI governance
Background
Time to get Macro? Gendered effects of World Bank macroeconomic policy amidst IFI reform
Notes from the CSPF panel "Time to get Macro? Gendered effects of World Bank macroeconomic policy amidst IFI reform" on Friday the 14th of April 2023.
IFI governance
Background
Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework
Notes from the Civil Society Policy From on 13 April titled "Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework."
Featured briefings
6 April 2023
World Bank and IMF Spring Meetings 2023
5 April 2023
The IMF at the 75th anniversary of the Universal Declaration of Human Rights: The need for governance reform
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
5 April 2023
The global financial architecture and the international debt crisis: An urgent call for reform
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.