The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
Over 60 per cent of low-income countries and more than 25 percent of emerging market economies are in or at risk of debt distress, and are in danger of being unable to fulfil their fiscal obligations.
Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.
More than 300 organisations and individuals call upon the IMF to urgently address one of the most glaring and easily rectifiable contradictions between its stated support for a just transition and its actions by immediately ending its surcharge policy.
G20 independent review calls for increased lending by multilateral development banks to address multiple crises, but lack of reform in World Bank crises response framework raises concerns about how it would use additional resources.
The sovereign debt crises threatening states in the Global South are less about fiscal mismanagement and more about monetary power in the global currency hierarchy.
New IMF debt sustainability framework fails to alleviate concerns over transparency and overoptimism in midst of large-scale debt crisis, as countries face severe austerity and private lenders wait for bailouts.
As economic conditions worsen and the Fund's legitimacy comes under increasing pressure, IMF leaders gathering for the Annual Meetings must make progress on ongoing review of IMF quotas and agree a more equitable formula and distribution of voting power.
Non-debt forms of financing essential, as many countries on front line of climate change face ‘polycrisis’ that threatens macroeconomic stability.
New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.
As the world celebrates the 75th anniversary of the Universal Declaration of Human Rights, it is time the IMF’s shareholders use the opportunities provided by the anniversary and growing calls for reforms to the international financial architecture to redesign the IMF’s governance structures and programmes to ensure they are consistent with the commitments outlined in 1948 and with international human rights law.
Influence of unreformed international financial institutions and creditor interests in debt solutions in low- and middle-income countries plagued by delay and ineffective when undertaken.
