Civil society calls upon the IMF to implement a meaningful quota reform by June 2025 and prioritise realignment of shares to reflect more accurately the changes in the global economy and address representation issues
This Inside the Institutions looks at the IMF’s Special Drawing Rights, including their history and usage, with a focus on the latest allocation, which accounts for 69 per cent of the SDRs ever disbursed.
From South Africa to Tunisia, Libya and Egypt, the Bank and Fund have demonstrated they are not appropriate allies to address the scale of the crisis the world is facing, especially, given their record.
The recent BRICS enlargement creates additional pressure for IMF governance reform.
The success of the World Bank Evolution Roadmap will depend on developed countries' willingness to bridge the gap with developing countries by increasing Global South decision-making power and committing to a capital increase.
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.
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
As geopolitical tensions rise amidst worsening global economic conditions, civil society demands the democratisation of a world economic order away from the established Global North and elite capitalist hegemony.
Analysis of the IMFC communiqué published on 8 April from the 2021 World Bank and IMF virtual Spring Meetings.
The world awaits to see whether Trump’s defeat will result in the end of the 'America First' approach and a democratisation of the IMF and World Bank and the multilateral system.