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Finance

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.

18 October 2023

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.”

18 October 2023
World Bank Group President Ajay Banga enters headquarters on his first day, Washington DC, 2 June 2023.

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.

5 October 2023

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.

4 October 2023
Leaders of the African Union proposed that the International Monetary Fund consider issuing $650 billion in SDRs to combat the climate crisis. Africa Climate Summit 2023, 5 September 2023.

Finance

News

The 2021 SDR allocation was beneficial for the global economy, but was it sufficient to address the scale of the crisis?

IMF’s new report looking at the impact of the $650 billion SDR allocation in 2021 talks about the benefits of the allocation for the global economy but fails to address the scale of the polycrisis.

4 October 2023
International Human Rights Day protest Manila, 10 December 2020.

Finance

Analysis

Debt sustainability assessment reform essential to address retrogression of international human rights

Recent reports outlining the extensive negative human rights impacts of debt and austerity further evidence the urgency of the need for the IMF and World Bank to go beyond financial sustainability in debt sustainability analysis.

4 October 2023

Finance

Analysis

Reconceptualising Special Drawing Rights as a tool for development finance

Briefing examines the shortcomings of the current SDRs allocation system and calls to reform SDRs to ensure their targeted, needs-based and equitable distribution. 

2 October 2023 | Briefings

Finance

Analysis

Civil Society calls for rethink of World Bank’s ‘evolution roadmap’ as part of wider reforms to highly unequal global financial architecture

Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.

3 July 2023 | Briefings

Other news

Finance

News

4 October 2023

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

4 October 2023

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

19 July 2023

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

19 July 2023

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

19 July 2023

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.

IFI governance

News

19 July 2023

Marrakech CSO working group launches statement ahead of 2023 Annual Meetings

Marrakech working group calls on the BWIs to cancel the debt, stop imposing austerity and ensure a just energy transition.

Finance

News

5 April 2023

IMF continues to disregard UN Human Rights Commission concerns about its surcharge policy

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.

Finance

News

5 April 2023

A different ‘evolution roadmap’: Havana conference calls for changes in world order hierarchy

As IMF and World Bank tinker at margins, 50 policymakers, diplomats and academics from over 26 countries issue Havana Declaration calling for an assertion of Southern power and the building of a new "planetary bloc".