Last week was a crucial week for the citizens of developing countries, who are being hit hard by the Coronavirus crisis. They are facing increasing poverty, growing inequality and uncertain futures – and were looking to the world's leaders for decisive action. Yet despite a week of stirring rhetoric from G20, International Monetary Fund (IMF) and World Bank (WB) leaders, who claim they are determined to tackle the crisis, the results are deeply disappointing. What is clear is that world leaders and the Bretton Woods institutions need to take much more ambitious steps to deliver in the public interest.
Global Processes
2020 IMF and World Bank Annual Meetings: Disappointing response to Coronavirus crisis
- Development Finance
- Global Processes
IMF-WB Annual Meetings: Strong rhetoric, weak action
As the Annual Meetings of the IMF and World Bank draw to a close, Jean Saldanha, Director of the European Network on Debt and Development (Eurodad) reflects on a crucial, but disappointing, week in development finance.
- Debt Justice
- Covid-19
Over half of the World Bank's emergency funding to tackle the Coronavirus crisis goes to the private sector
- Almost 60 per cent of the Bank’s fast track Covid-19 Facility (US$ 8 billion) is being allocated through its private sector arm, the International Finance Corporation (IFC)
- Publicly available information indicates that as of June 2020, 68 per cent of IFC Covid-19 projects targeted financial institutions
- It also shows that 50 per cent of IFC-supported companies are either majority-owned by multinational companies or are themselves international conglomerates
- Publicly-backed Private Finance
- Global Processes
Never let a pandemic go to waste: How the World Bank’s Covid-19 response is prioritising the private sector
The Covid-19 pandemic has triggered health, economic and social crises of unprecedented proportions that have the potential to seriously undermine the (already slow) progress made by developing countries towards achieving the Sustainable Development Goals.
- Publicly-backed Private Finance
- Global Processes
Civil Society Organisations’ statement against continued IMF austerity
More than 500 civil society organisations are calling on the International Monetary Fund (IMF) to immediately stop promoting austerity around the world, and instead advocate policies that advance gender justice, reduce inequality, and decisively put people and planet first.
- Debt Justice
- Global Processes
Arrested Development: International Monetary Fund lending and austerity post Covid-19
A Eurodad-led review reveals insufficient and inadequate multilateral response to the Covid-19 pandemic on the part of the IMF, locking a large number of countries into a decade-long crisis of debt and austerity.
Read the report in English, Spanish, Portuguese and French.
- Debt Justice
- Debt Sustainability

Heads of states meeting: No more excuses - time for global economic solutions
#Covid-19 #UN #FinCEN #Tax #DebtSustainability #OECD #DAC #UNFCCC #Unga
- Debt Justice
- Global Processes
Global economic solutions now!
Eurodad joins more than 350 civil society organisations from across the world in signing an open letter to Heads of State Meeting at the United Nations for the 75th UNGA.
- Tax Justice
- Global Processes
Making the European ‘Climate’ Investment Bank work for developing countries
In response to the public consultation on the European Investment Bank Climate Bank Roadmap, this paper outlines what the Roadmap should do to fulfil the commitment to international climate finance.
- Climate Finance
- Global Processes