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
IFI governance
Finance
Analysis
Secretary General calls for international architecture and policy reforms
IFI governance
Analysis
Incremental changes paper over deficiencies of status quo, as civil society calls for the radical change required to meet the moment.
IFI governance
Analysis
Annuals Wrap-up 2023: BWIs wilt in desert as ‘pragmatism’ fails to solve urgent crises
Finance
Analysis
From South Africa to Tunisia, Libya and Egypt, the Bank and Fund have demonstrated they are not appropriate allies to address the scale of the crisis the world is facing, especially, given their record.
Finance
Analysis
The IMF and World Bank talk good governance, but walk with state- capturers
IFI governance
Commentary
A dizzying ride down the cascade of Bank and Fund double-speak in 2023
From the gentleman's agreement and carbon taxes to B-Ready and the Evolution Roadmap Playbook, the BWIs took us for another ride down the cascade of buzzwords in 2023. Join the BWP gourmets in savouring the word salad.
Environment
News
Selection of World Bank to host new Loss and Damage Fund draws ire of developing countries and civil society advocates
Developing countries insist on lengthy list of conditions as Bank is named host of new Loss and Damage Fund on interim basis.
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.
Accountability
News
Demanding accountability: Response to reports of a child sexual abuse cover up at the World Bank
A joint statement from 34 global civil society organizations regarding the extremely disturbing reports of a child sexual abuse cover-up by World Bank Group officials in connection with IFC's investment in Bridge International Academies in Kenya.
IFI governance
Analysis
V20 communiqué analysis Annual Meetings 2023: Climate vulnerable countries demand more voice at Bretton Woods Institutions
V20 seeks confirmation of official observer status at the Bretton Woods Institutions by COP28, as IMF quota review fails to give greater voting power to climate vulnerable countries.
IFI governance
Analysis
G24 communiqué analysis Annual Meetings 2023: Scramble for 'last resort' support to struggling countries
The Annuals 2023 G24 communiqué for reiterates an urgent need for financial support from both the IMF and World Bank for indebted countries, whilst also supporting reform through quotas, a new SDR allocation & surcharge abolishment and review.
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.
Other news
IFI governance
Background
An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade
Notes from the Civil Society Policy Forum on 11 October 2023 titled, "An Evolution Roadmap responsive to development crises? Towards an external evaluation of the World Bank’s cascade."
IFI governance
Background
The B-Ready Project: A significant departure from the Doing Business Report?
Notes from the Civil Society Policy Forum on 12 October 2023 titled, "The B-Ready Project: A significant departure from the Doing Business Report?"
IFI governance
Background
African perspectives on the reforms of the international financial architecture
Notes from the Civil Society Policy Forum Session 'African perspectives on the reforms of the international financial architecture' on 11 October 2023.
IFI governance
Background
Transformative policy pathways: Lessons from feminist economics programming for the IMF
Notes from the Civil Society Policy Forum on 10 October 2023 titled "Transformative policy pathways: Lessons from feminist economics programming for the IMF."
Finance
News
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.
IFI governance
News
Marrakech CSO working group launches statement ahead of 2023 Annual Meetings
Marrakech working group calls on the BWIs to cancel the debt, stop imposing austerity and ensure a just energy transition.
IFI governance
Background
IFI reform, Bridgetown & climate finance: Critical civil society perspectives
Notes from Civil Society Policy Forum panel on 12 April titled "IFI reform, Bridgetown & climate finance: Critical civil society perspectives."
IFI governance
Background
Voices of the Global South: Taxation and polycrisis
Notes from Civil Society Policy Forum event on April 14 2023 titled "Voices of the Global South: Taxation and polycrisis"