The Development Committee communiqué was published on 15 October. It acknowledged an uneven and uncertain path to recovery, while it kept silent on the need for a TRIPS waiver of the Covid-19 vaccines and said little about the IMF’s new $650 billion allocation of SDRs.
G20 offers sanguine tone on the global health and debt crises, failing to address issues related to vaccines and private creditors.
G24 finance ministers called for urgent measures to arrest the unequal recovery from the Covid-19 pandemic.
The communiqué of the IMFC was issued on 14 October. It emphasised an uneven recovery from the Covid-19 crisis and highlighted debt concerns. It also called for progress on IMF quota reform.
Doing Business scandal, likely conditions attached to SDR rechannelling and lack of Bank and Fund support for an intellectual property waiver for vaccines highlight links between undemocratic governance structures at Bank and Fund and the uneven recovery from the pandemic.
Mixed reactions on new World Bank Accountability Mechanism as civil society welcomes incorporation of dispute resolution function but is concerned about possible erosion of Inspection Panel independence.
MIGA principally provides political risk insurance for private investors undertaking foreign direct investment.
Analysis of the IMF and World Bank Development Commitee communiqué published on 9 April from the 2021 World Bank and IMF virtual Spring Meetings.