October 25, 2024 - Washington, D.C. | Participants of the 2024 IMF/World Bank Group Annual Meetings’ Development Committee: Mohamed bin Hadi Al Hussaini, Ajay Banga, Kristalina Georgieva, and Mercy Tembon. Photo: Simone McCourtie / World Bank (via Flickr).

IFI governance

Analysis

Development Committee chair’s statement analysis Annual Meetings 2024: compounding crises expose the World Bank’s role in structural failures but limit scope for reform

Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural failures.

29 October 2024

IFI governance

Analysis

G20 communiqué analysis Annual Meetings 2024: progress on tax and inequality obscures Group's wider failures

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.

29 October 2024

IFI governance

Analysis

G24 communiqué analysis Annual Meetings 2024: calls for robust multilateral response to mounting risk and global crises

G24 calls for robust multilateral response to debt, development and climate crises, arguing the IMF and World Bank must continue reform in order to maintain legitimacy and fulfil their mandate.

29 October 2024

IFI governance

Analysis

IMFC chair’s statement analysis Annual Meetings 2024: a fiscal consolidation “pivot” as IMF struggles to get its house in order

Chair’s statement calls for a ‘pivot’ to fiscal consolidation and announces possible approaches to guide further quota realignment by June 2025. In contrast, China’s statement calls for work to begin on alignment even without resolution of 16th quota review.

29 October 2024

IFI governance

Analysis

V20 communiqué analysis Annual Meetings 2024: climate vulnerable countries once again demand key changes to IMF’s approach, as world risks breaching climate tipping points

V20 members offered a searing indictment of rich countries’ failure to act on BWIs governance, debt relief, climate finance and SDRs.

29 October 2024
World Bank President Ajay Banga, speaks at an event titled Transforming Challenge into Action: Expanding Health Coverage for All, at the WBG & IMF Spring Meetings, 18 April 2024, Washington DC. Credit: Grant Ellis / World Bank

IFI governance

Analysis

Annual Meetings 2024 Preamble: BWIs’ management and key shareholders stand in the way of transformative governance reforms despite ‘evolution’ rhetoric

Unconvincing World Bank Evolution Roadmap reforms and IMF’s struggle to mainstream climate and gender symptomatic of wider malaise.

17 October 2024