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
Finance
Finance
Analysis
Decolonising the global economic architecture: A prerequisite for a just transition
Finance
Analysis
UN Secretary General’s New Agenda for Peace report identifies growing threats to global peace and stability, and proposes urgent reforms to the unjust economic system. World Bank and IMF resist policy and governance reform.
Finance
Analysis
Secretary General calls for international architecture and policy reforms
Finance
Analysis
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.
Finance
Analysis
The IMF and World Bank talk good governance, but walk with state- capturers
Finance
News
New data show Global South is in worst debt crisis ever, with another lost decade looming
Civil society alliances call to prioritise sustainability of life over debt, while IMF continues to insist situation is not "systemic", in contrast to what the UN Secretary General has called a "systemic failure".
Environment
Background
What is the IMF Resilience and Sustainability Trust?
This Inside the Institutions looks at IMF’s Resilience and Sustainability Trust (RST) reflecting on concerns about its eligibility criteria, quota limit, and 'green conditions'.
Finance
News
The rise of bilateral currency swaps - a threat to the IMF?
Without reforming SDRs to boost reserves and stabilise economies, bilateral swaps will further reinforce the existing asymmetries of the international financial system.
IFI governance
Analysis
G20 communiqué analysis Annual Meetings 2023: Nothing new under the sun
The Group of 20 (G20) communiqué was published on 13 October. It focused on the consequences of the evolving debt situation, reaffirmed support for the much-criticised Common Framework and was silent on debt relief. The section on MDB reform meanwhile stressed ‘bigger’ rather than ‘better’ banks.
IFI governance
Analysis
Development Committee chair’s statement analysis Annual Meetings 2023: Geopolitical fragmentation limits the ambition for reform
The Development Committee met on 12 October, with the chair issuing a statement, instead of a communiqué, reflecting the views of the majority of shareholders on the measures needed to tackle the development challenges that “have upended decades of hard-won development progress, and the development.”
IFI governance
Analysis
Annual Meetings 2023 Preamble: Lack of governance reform and economic transformation front and centre as World Bank and IMF meet in Africa for first time in 50 years
As the World Bank moves toward finalising its ‘Evolution Roadmap’, and IMF shareholders struggle to agree on an outcome to the 16th Review of Quotas, the stakes in Morocco are high.
Finance
News
The IMF in Kenya: Regressive taxation as the new face of austerity
Kenyans take to the streets as IMF-imposed regressive tax regime aggravates cost of living crisis and undermines productivity.
Other news
Finance
News
Significant IDA21 replenishment required as need for concessional finance grows
Rich countries need to agree to an ambitious IDA21 replenishment to address compounding economic and liquidity crises, causing high levels of debt distress in low-income countries.
Finance
News
Civil society urges governments to agree on a UN tax body as a high priority
African Group’s proposal for a UN Tax Convention moves forward as CSOs keep pressure on rich countries not to block it.
Finance
News
New book addresses shortcomings of traditional approaches to debt and economics
New book details the gendered effects of austerity and argues that the human rights of people living in debt-distressed countries must take precedence over creditors’ financial interests.
Finance
News
Biden administration signals additional funding for World Bank and IMF
New financing for the IMF and World Bank proposed by the US will not fix the flawed private sector development paradigm that burdens Global South economies with debt.
Finance
News
IMF acknowledges capital controls have helped Argentine economy
IMF research acknowledges measures to restrict capital outflows introduced in 2019 contributed to Argentina meeting the performance criteria for the Fund’s Extended Fund Facility.
Finance
News
African finance ministers join growing calls for more equitable SDR allocations
New calls for SDR reform reveal acute need of financing for low- and middle-income countries to achieve the Sustainable Development Goals.
Conditionality
News
Tunisian government resists proposed IMF austerity programme
Tunisian government is attempting to renegotiate IMF loan to avoid subsidy cuts on food and fuel.
Land
News
Word Bank promotes agricultural corporations at cost of food security in Africa
New CAFOD report exposes World Bank’s harmful approach to agriculture increases food insecurity in Africa.