Spring Meetings conclude with frantic calls for stronger multilateralism, but few advances in key issues such as Covid-19 unequal recovery, debt, inequality and climate crises, while Russia participation prevents G20, G24 and Development Committee from releasing a communique.
Eastern Europe & Central Asia
The IMFC issued a chair statement in place of a communiqué. It discussed a long list of challenges with focus on fallout from Ukraine invasion and climate change.
War in Ukraine will have significant spillover effects as Global South continues to carry the burden of vaccine inequity. Debt, austerity and evolving food crisis key talking points of Meetings while unequal recovery, gender, RST and surcharges key issues at CSPF.
IFC’s investments in gig economy platform companies come under scrutiny
Analysis of the IMFC communiqué published on 8 April from the 2021 World Bank and IMF virtual Spring Meetings.
Egypt, Ukraine, South Africa and Ecuador have recently signed IMF loan programmes that involve severe austerity measures.
Civil society, trade unions and academics call for permanent end of Doing Business Report as World Bank suspends its publication due to data irregularities.
Early evidence suggests IMF programmes are maintaining long-term fiscal consolidation targets, while World Bank further continues Maximizing Finance for Development narrative amidst Covid-19 crisis.
The country – reeling from the Russia invasion – owes a total of $22 billion to the IMF, World Bank and other international financial institutions.
Over 250 civil society experts urge the IMF to eliminate its punitive surcharges on countries in debt distress as they undermine an equitable economic recovery and exacerbate the global debt crisis.
World Bank plans to publish latest DBR in March and undertake an external review of the report’s methodology.
Bank and Fund-backed land bill passed in dead of night during lockdown favouring private investors and Western agribusiness.
Ukraine passes contentious draft land reform law under pressure from World Bank, IMF and EBRD.
Move comes after concerted civil society campaign calling for ‘fossil-free EIB’.
Notes from a Civil Society Policy Forum event on 16 October.
This Civil Society Policy Forum Session was co-sponsored by the National LGBT Chamber of Commerce,…