Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.
Spring/Annual meetings
IFI governance
Analysis
G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push
In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive and better capitalised MDBs.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens
V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.
IFI governance
Analysis
IMFC chair’s statement analysis Spring Meetings 2024: Tinkering at the margins while global crises unfold
IMFC chair’s relatively sanguine view of the global economy does not reflect the IMF’s own projection that the five-year global economic growth forecast is “at its lowest in decades”.
IFI governance
Analysis
G24 communiqué analysis Spring Meetings 2024: Calls for reform, not protectionism
The Spring 2024 G24 communiqué puts pressure on the BWIs to use their influence where it’s needed, including calls to suspend and review surcharges, offer the biggest ever IDA replenishment, suppot the UN Tax Convention, and avoid protectionist policies.
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.
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2024: Bank shareholder division hinders reforms required to address global challenges
Despite the Development Committee advocating for increased international cooperation, persistent geopolitical fragmentation constrains the much-needed reforms essential for addressing 21st-century challenges.
IFI governance
Background
Adequate disclosure, public review, and consultation for environmental and social impacts before World Bank Group financing decisions
Notes from the Civil Society Policy Forum on 19 April 2024 titled, "Adequate disclosure, public review, and consultation for environmental and social impacts before World Bank Group financing decisions".
IFI governance
Background
Beyond size in IDA21 replenishment: What about socio-economic transformation?
Notes from Civil Society Policy Forum panel 19 April titled, "Beyond size in IDA21 replenishment: What about soci0-economic transformation?"
IFI governance
Background
Making the new Loss and Damage Fund a success – Recommendations by climate vulnerable civil society
Notes from the Civil Society Policy Forum session on 18 April 2024 titled, "Making the new Loss and Damage Fund a success – Recommendations by climate vulnerable civil society"
Featured briefings
16 October 2024
The Bretton Woods Observer: Autumn 2024
16 October 2024
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
16 October 2024
Sustainable development requires sustainable finance: why local currency financing is part of the solution
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.