Amid underwhelming private capital mobilisation, new report underscores poor state of transparency and disclosure of private sector finance by multilateral development banks and development finance institutions.
As the IMF increases cost of lending for LICs by introducing a tiered interest mechanism to the PRGT, CSOs and V20 Group call instead for an SDR interest rate cap to reduce the cost of lending and for sale of gold reserves to address the funding gap.
Despite Development Committee’s call for increased development impact amidst compounding crises, persistent geopolitical fragmentation constrains the critical reforms needed to address structural 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.
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.
Youth-led led protests lead to withdrawal of controversial finance bill by President William Ruto.
This Inside the Institutions examines the joint World Bank and IMF Debt Sustainability Framework (DSF) for low-income countries (LICs) and evaluates its impact on LICs’ ability to maintain fiscal space for development and climate goals.
US conservative blueprint for second Trump term calls for US to withdraw from World Bank and IMF, amid continued geopolitical tensions and unresolved debt crisis in Global South.
Amid concerns about the policy package and in the face of global crises, IDA's 21st replenishment showed difficulty of mobilising donor finance amid elections and geopolitical tensions.
BWIs engineer creative ways to provide financial support to Ukraine using frozen Russian assets as back up, in contrast to lack of support for debt-stricken African countries.
Civil society Financing for Development (FfD) Mechanism calls for FfD4 conference to deliver meaningful reform and a true path towards democratic multilateralism.
The replenishment process for IDA21 concludes in early December, amid hopes of a record replenishment and concerns over the global debt crisis.
IMF’s surcharges review is resorting to incremental changes by reviewing the level and time base of penalty charges, instead of achieving meaningful reform
Notes from the Civil Society Policy Forum session on 17 April 2024, titled "The Future of Special Drawing Rights as a Development Finance Tool: What's Next?"
B-READY pilot 1 covering 51 countries is released, ignoring CSO concerns about the project’s flawed “private-sector first” agenda.
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.
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
