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
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.
Global South faces severe structural deficiencies that weaken its economic sovereignty and put it at the mercy of a neo-colonial global financial architecture.
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.
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".
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'.
Without reforming SDRs to boost reserves and stabilise economies, bilateral swaps will further reinforce the existing asymmetries of the international financial system.
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.
African Group’s proposal for a UN Tax Convention moves forward as CSOs keep pressure on rich countries not to block it.
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.