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.
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.”
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.
Kenyans take to the streets as IMF-imposed regressive tax regime aggravates cost of living crisis and undermines productivity.
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.
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.
Briefing examines the shortcomings of the current SDRs allocation system and calls to reform SDRs to ensure their targeted, needs-based and equitable distribution.
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.