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.

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.
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.
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.
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.
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’.
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.
Spring Meetings unlikely to deliver structural reforms required to respond to worsening polycrisis, as Global North-driven World Bank reform set to divert attention from poverty and inequality and geopolitical tensions dampen hopes of new SDR allocation and IMF quota reform.
The World Bank Group needs to address its democratic deficit and lack of accountability. As it prepares to elect a new president and implement its “evolution roadmap”, it should use these key opportunities to embrace a profound reform.
Notes from Civil Society Policy Forum panel on 12 April titled "IFI reform, Bridgetown & climate finance: Critical civil society perspectives."
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.
Notes from Civil Society Policy From event from April 12 2023, titled "IMF strategy on social spending: New direction or Band-Aid?"
Notes from the CSPF on 12 April titled "Protecting biodiversity in a biodiversity crisis."
Notes from the CSPF on 12 April titled "Why Paris Alignment must be part of the Evolution Roadmap and what this should look like."
Notes from the CSPF on 12 April titled "Political economic reforms in the extractive sector as a catalyst to sustainable development in Africa."
Notes from the CSPF on 11 April titled "Financial flows, capital controls, and development impacts in the Global South."
IMF managing director continues to refuse to answer letter from UN Human Rights Council concerning the negative impact of IMF surcharges as world celebrates 75th anniversary of Universal Declaration of Human Rights.