As the World Bank and IMF celebrate their 80th anniversary in 2024, on 10th July the Bretton Woods Project, together with the SOAS Centre for Sustainable Finance, were joined by a distinguished group of panellists to critically analyse the opportunities for, and challenges to, reforms of the BWIs and the international financial architecture more broadly.
IFI governance
IFI governance
Analysis
A way out for IMF reform
IFI governance
Analysis
Urgent BWIs reforms remain hostage to lack of political will in Global North as the G20 failed to deliver on important issues within a fragmented geopolitical situation.
IFI governance
Analysis
Amid mounting crises, lack of political will to match rhetoric with action persists
IFI governance
Analysis
At a time when transformative changes on governance and development financing are required, the World Bank and IMF have instead opted for a slimmed down Spring Meetings schedule.
IFI governance
Analysis
Spring Meetings Preamble: BWIs sleepwalk through crises as 80th anniversary approaches
Finance
News
'Worst ever’ debt crisis puts IDA’s financial model at risk, underscoring need for ambitious donor contributions to IDA21 replenishment
The unfolding debt crisis threatens IDA’s support for 75 low-income countries, without replenishment of grant resources.
IFI governance
News
WEBINAR: A way out of IMF reform
Join us on Wednesday 12th June for the webinar: A way out for IMF reform where we will be discussing the outcome of IMF’s 16th Quota Review and explore the future prospects for governance reform.
IFI governance
Analysis
G20 press conference analysis Spring Meetings 2024: Concrete actions fail to materialise despite strong Brazilian push
In the absence of a G20 Communiqué or Chair statement, Brazilian minister of finance, head of the central bank and other senior officials took questions at a short press conference, with discussion focused on the impact of continued restrictive US monetary policy on the global debt and development finance and the need for more responsive and better capitalised MDBs.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2024: Climate vulnerable countries issue call to action, as net-negative flows result in ‘millions in, billions out’ amid growing debt burdens
V20 members are expected to pay $904.7 billion in debt service between 2022-2030, as debt, lack of financing and low projected growth hampers prospects for green economic transformation.
IFI governance
Analysis
IMFC chair’s statement analysis Spring Meetings 2024: Tinkering at the margins while global crises unfold
IMFC chair’s relatively sanguine view of the global economy does not reflect the IMF’s own projection that the five-year global economic growth forecast is “at its lowest in decades”.
IFI governance
Analysis
G24 communiqué analysis Spring Meetings 2024: Calls for reform, not protectionism
The Spring 2024 G24 communiqué puts pressure on the BWIs to use their influence where it’s needed, including calls to suspend and review surcharges, offer the biggest ever IDA replenishment, suppot the UN Tax Convention, and avoid protectionist policies.
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2024: Bank shareholder division hinders reforms required to address global challenges
Despite the Development Committee advocating for increased international cooperation, persistent geopolitical fragmentation constrains the much-needed reforms essential for addressing 21st-century challenges.
Other news
IFI governance
Background
Adequate disclosure, public review, and consultation for environmental and social impacts before World Bank Group financing decisions
Notes from the Civil Society Policy Forum on 19 April 2024 titled, "Adequate disclosure, public review, and consultation for environmental and social impacts before World Bank Group financing decisions".
IFI governance
Background
Beyond size in IDA21 replenishment: What about socio-economic transformation?
Notes from Civil Society Policy Forum panel 19 April titled, "Beyond size in IDA21 replenishment: What about soci0-economic transformation?"
IFI governance
Background
Making the new Loss and Damage Fund a success – Recommendations by climate vulnerable civil society
Notes from the Civil Society Policy Forum session on 18 April 2024 titled, "Making the new Loss and Damage Fund a success – Recommendations by climate vulnerable civil society"
IFI governance
Background
The polycrisis: How unchecked public debt fuels corruption and bad governance
Notes from the Civil Society Policy Forum on 18 April titled "The polycrisis: How unchecked public debt fuels corruption and bad governance."
IFI governance
Background
When exits and accountability collide: What happens when IFC exits projects mid-accountability process?
Notes from Civil Society Policy Forum on Thursday, 18 April titled, "When exits & accountability collide: What happens when IFC exits projects mid-accountability process?"
IFI governance
Background
Fit for purpose: Reviewing green conditionalities in the IMF RST and World Bank RST
Notes from the Civil Society Policy Forum on 18 April 2024 titled, "Fit for purpose: Reviewing green conditionalities in the IMF RST and World Bank RST."
IFI governance
Background
Is a feminist vision on public debt possible?
Notes from the Civil Society Policy Forum on 18 April 2024 titled "Is a feminist vision on public debt possible?"
IFI governance
Background
Agriculture, financialization, and gender: Exploring the World Bank’s response to interlinked phenomena
Notes from the Civil Society Policy Forum on 17 April 2024 titled "Agriculture, financialization, and gender: Exploring the World Bank’s response to interlinked phenomena"