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IFI governance

News

Civil society calls for a meaningful Quota Reform that accurately reflects the changes in the global economy to ensure a fair representation of all member countries

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

18 December 2023 | Letters

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".

13 December 2023
Managing Director Kristalina Georgieva holds a Caribbean Ministerial Roundtable on the Resilience and Sustainability Trust at the Lloyd Erskine Sandiford Centre, 17 June 2022. Credit: Kim Haughton/ IMF Photo

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'.

13 December 2023 | Inside the institutions

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.

13 December 2023

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

Other news

Finance

News

13 December 2023

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

13 December 2023

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

13 December 2023

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

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.