At the 25th anniversary of the Group’s Finance Track, the G20 communiqué’s robust language on the taxation of billionaires, including encouraging “constructive discussions” about the UN Tax Conference was contrasted by much more cautious language on MDB reform, climate finance, debt and Special Drawing Rights.
V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.
The World Bank’s new Corporate Scorecard misses the forest for the trees as it lacks an indicator to measure the Bank’s contribution to economic transformation, a cornerstone of its development mandate.
Youth-led led protests lead to withdrawal of controversial finance bill by President William Ruto.
IMF board's lukewarm endorsement of SDR rechanneling through MDBs stands in stark contrast to continued calls from Global South governments for additional SDR allocations, amid growing debt crisis.
The unfolding debt crisis threatens IDA’s support for 75 low-income countries, without replenishment of grant resources.
Despite the Just Energy Transition Partnership's failure to attract private investments in South Africa, the World Bank is doubling down on a private sector led approach to the green transition through $1 billion loan contingent on the separation of Eskom’s activities.
This Inside the Institutions explores the International Finance Corporation (IFC), the World Bank Group’s private sector arm. It examines the function of the IFC as a development institution focused solely on private sector solutions to development and considers civil society critiques.
New seed law will benefit agribusiness but infringe on farmers’ rights to share and reuse their own seeds, which will undermine food security in a country where smallholder farmers grow most of the country’s staple food.
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.
Explicit mention of human rights obligations has long been a taboo subject at the World Bank.
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.
