IMF/WB Spring Meetings 2022 - As crises mount, failed and insufficient solutions from the IMF and World Bank must be replaced

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IMF/WB Spring Meetings 2022 - As crises mount, failed and insufficient solutions from the IMF and World Bank must be replaced

This year’s IMF-World Bank Spring Meetings provided the strongest proof yet of the urgent need for reform to the global economic architecture and governance, as the spillovers from the Ukraine war increased the complexity of the multiple crises facing the world.

In our reaction, we call for decision-making to shift to the UN: “the most democratic global governance space we have.”

Read our full media reaction here.

See below for more reactions from our sister networks.

News & analysis

World Bank-IMF Spring Meetings 

Here you can read reactions from our sister networks AFRODAD, Latindadd and APMDD:

African Sovereign Debt Justice Network’s Statement on the Occasion of the 2022 Spring Meetings of the IMF and the World Bank

The African Sovereign Debt Justice Network, together with other African organisations including AFRODAD, calls upon the International Monetary Fund (IMF) and the World Bank to address their unjust governance structures that have roots in the historical subjugation of African countries and to redesign the international financial and debt architecture.

Read the statement here.

APMDD's Statement on the 2022 IMF-WB Spring Meetings

by Asian People's Movement on Debt and Development

The “Way Forward” proposed in the IMF and World Bank Spring Meetings leads us farther down a path of greater debt accumulation, heavier debt service burdens for the global south, and a certain future of stark impoverishment and inequality.

Read the statement here.

LATINDADD's reaction to the 2022 IMF and WB Spring Meetings


No substantive changes came out of this year’s Spring Meetings. Consequently, developing countries face deeper struggles due to an international financial architecture, which urgently needs to be reformed. Read Latindadd’s detailed round-up of the meetings from a Latin American perspective (only in Spanish).

Read the reaction here. 


Financing for Development (FfD) Forum 2022

The Financing for Development Forum is an intergovernmental process mandated to review the Addis Ababa Action Agenda (Addis Agenda) and other financing for development outcomes and the means of implementation of the Sustainable Development Goals (SDGs). Here you can find three briefings published by the Civil Society FfD Group and presentations by Eurodad and civil society partners:

Thematic Brief Launch: Private Finance addresses an overreliance on private finance and business and a focus on policies aimed at attracting more private investments as key strategies to achieve the Sustainable Development Goals (SDGs). 

Thematic Brief Launch: Domestic Resource Mobilization connects the national and international when it comes to tax policies and broader domestic resource mobilization strategies, highlighting how shaping decision-making on global economic governance at the UN has the potential to transform our global economic systems.

Undue INFFluence? The risk of the United Nation’s growing emphasis on Integrated National Financing Frameworks Recent outcomes from the UN FfD process have failed to reach consensus on global-level solutions, from tax to debt to trade. In contrast, one area that has seen rapid momentum is the development of new approaches to work on financing at country level, known as Integrated National Financing Frameworks (INFFs). This briefing sets out what INFFs involve, and key concerns. 

Eurodad at the 2022 UN ECOSOC Financing for Development Forum

The UN's ‘one country one vote’ system gives the voices of global south countries far greater influence than in other institutions. As a result, we are calling for a fourth Financing for Development Conference.

Take a look at our interventions here.


Who is really at the table when global tax rules get decided?

Currently, a third of the world's countries are not at the table when global tax rules get decided. Watch this short animation to see why it's time for the United Nations to take the lead, so all countries can participate on an equal footing.

Watch the video here. 


What kind of economic growth do women need? Proposals for development with a gender perspective in Latin America and the Caribbean


This document examines the inadequacy of Gross Domestic Product (GDP) as a measure of economic performance. Although GDP is a widely used indicator, it is also inadequate when fully evaluating the situation of the economy of a country and even less the situation of women. The report is available in English, Spanish and Portuguese.

Read the report here. 

Gendered Austerity in the COVID-19 Era: A Survey of Fiscal Consolidation in Ecuador and Pakistan

by Third World Network

The paper examines the dynamics and implications of gendered austerity in Ecuador and Pakistan in the context of the IMF loan programmes and fiscal consolidation frameworks in both countries. 

Read the paper here.

Useful resources

What is Ukraine to do with her government’s debt?

The Lithuanian Development Cooperation Platform has analysed how over the last few weeks various governments and multilateral institutions have been providing huge sums in "emergency funding" to "help Ukraine" but discovered that the majority come in the form of loans. This means an even bigger financial burden on the shoulders of ordinary people of Ukraine in the near future.

Read more in this article, which features an interview with our Debt Justice Policy and Advocacy Manager Iolanda Fresnillo here.


9-10 June | Eurodad Conference 2022

Taking place in Brussels on 9-10 June, Eurodad’s Conference will bring together our members, allies, partners and like-minded academics in an inspirational and interactive setting. 

Register and discover the full programme here.

3-31 May | Webinar Series "Skilling-up on Climate Finance"

Join us for the second and third webinars of  Eurodad's climate finance webinar series, where we will take a deep dive into public climate finance flows, transparency of climate finance, and the gender dimensions of climate finance. This webinar series is available in English, French and Spanish.

Register for the sessions here. 

This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the funders.