Banga takes office as civil society urges him to invert the Cascade and ensure the Bank’s development model is fit for purpose.
IFI governance
IFI governance
Analysis
Civil society calls for World Bank to reroute ‘Evolution Roadmap’ away from Cascade
Finance
Analysis
As Bretton Woods Institutions fail to deliver transformative, systematic reform of deeply unequal global architecture, countries should embrace a more democratic space: the United Nations Financing for Development process
Finance
Analysis
UN Financing for Development: The best chance to democratise global economic governance?
Finance
Analysis
World Bank Evolution Roadmap’s proposed superficial technical patches favouring the ‘logic’ of the market will likely fail to deliver the structural changes needed to support borrowing countries amidst global crises.
Finance
Analysis
World Bank Group Evolution: Technical fixes or urgently needed reform?
IFI governance
Analysis
G24 communiqué analysis Spring Meetings 2023: In a world in crisis, BWIs need bold reform
The G24 communiqué of the 2023 Spring Meetings left no doubt about the gravity of the state of global affairs, including rising extreme poverty, food insecurity, migration and forced displacement.
IFI governance
Analysis
Development Committee chair’s statement analysis Spring Meetings 2023: Division among Bank’s shareholders leaves ‘evolution roadmap’ at a cross-roads
Lack of consensus over Ukraine conflict meant Development Committee once again failed to agree a communiqué, with split also emerging over sources of funding for Bank’s expanded mission.
IFI governance
Analysis
G20 press briefing analysis Spring Meetings 2023: Deep divisions and limited ambitions hinder response to the polycrisis
Despite pressing global issues, including a mounting debt crisis in low- and middle-income countries, the G20 failed to release a communique following the meeting of its finance ministers on 13 April at the World Bank and IMF Spring Meetings.
IFI governance
Analysis
IMFC chair's statement analysis Spring Meetings 2023: Optimism and complacency at odds with growing desperation of Global South stakeholders
The IMFC again did not issue a communiqué as it could not agree on language on the war in Ukraine. A chair’s statement was issued in lieu of the communiqué and emphasised the resilience of the global safety net system, better than projected conditions and concerns about significant challenges.
IFI governance
Analysis
V20 communiqué analysis Spring Meetings 2023: Climate vulnerable countries call for global financial architecture fit to tackle climate and debt emergencies
V20 called for substantive debt relief and increased concessional financing to help break vicious cycle of debt and Loss and Damage, and spur ‘climate-positive development’.
IFI governance
Analysis
Spring Meetings 2023 Preamble: Threats to multilateral system and to achievement of development goals mount as hopes of substantive reform at World Bank and IMF wane
Spring Meetings unlikely to deliver structural reforms required to respond to worsening polycrisis, as Global North-driven World Bank reform set to divert attention from poverty and inequality and geopolitical tensions dampen hopes of new SDR allocation and IMF quota reform.
IFI governance
News
IMF and World Bank governance reform: Enabling the international system to meet the challenges of the 21st century
On April 15th 2023 a whole-day event will bring together concerned organisations and individuals from around the globe, to debate urgent reforms of the BWI’s governance structures required to support an adequate global response to the climate, inequality and debt crises, and to avoid the fragmentation of the multilateral system.
Other news
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"
IFI governance
Background
Time to get Macro? Gendered effects of World Bank macroeconomic policy amidst IFI reform
Notes from the CSPF panel "Time to get Macro? Gendered effects of World Bank macroeconomic policy amidst IFI reform" on Friday the 14th of April 2023.
IFI governance
Background
Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework
Notes from the Civil Society Policy From on 13 April titled "Navigating Africa’s debt conundrum amid multiple crisis: Looking beyond the G20 Common Framework."
IFI governance
Background
IMF strategy on social spending: New direction or band-aid?
Notes from Civil Society Policy From event from April 12 2023, titled "IMF strategy on social spending: New direction or Band-Aid?"
IFI governance
Background
Protecting biodiversity in a biodiversity crisis
Notes from the CSPF on 12 April titled "Protecting biodiversity in a biodiversity crisis."