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Key Takeways from the 2024 IMF and World Bank Group Annual Meetings
October 31, 2024
The 2024 IMF and World Bank Group Annual Meetings concluded against a backdrop of rising global debt and stagnant growth—an “unforgiving” combination, as IMF Managing Director Kristalina Georgieva put it. Military conflicts, geopolitical tensions, and high-interest rates continue to compound economic pressures, especially on developing countries facing prolonged fiscal constraints.
Our latest blog dives into the key outcomes from this year’s Annual Meetings, highlighting shifts in narrative and proposals for tackling the debt crisis. Though progress remains limited, we remain hopeful that South Africa’s upcoming G20 presidency, along with African leadership, will open new pathways to prioritize debt relief, climate resilience, and sustainable growth.
DRGR Project Newsletter
October 15, 2024
From October 21-26 policymakers, civil society, researchers and more will gather in Wasington, D.C. for the 2024 International Monetary Fund (IMF)/World Bank Group Annual Meetings.
In a time of profound global challenges, the stakes could not be higher. Against a backdrop of geopolitical tensions, climate shocks and sluggish economic recovery, this year’s meetings will significantly influence the trajectory of global issues, including debt and the New Collective Quantified Goal (NCQG), the upcoming climate finance target to be set at this year’s United Nations climate negotiations.
In a new policy brief Bogolo Kenewendo, Patrick Njoroge and Alexander Dryden show that this is particular relevant for African nations who despite strong economic performance and pandemic resilience, are particularly vulnerable to the economic impacts of the climate crisis and a deepening debt crisis.
DRGR Project Newsletter
June 10, 2024
From June 10–12, the Group of 20 (G20) International Financial Architecture Working Group convenes in Fortaleza, Brazil to tackle urgent global financial challenges and build a more resilient, stable system.
In anticipation of this crucial meeting, over 20 former Finance Ministers and Central Bank Governors from primarily emerging market and developing economies (EMDEs) have signed a letter calling on the G20 for decisive action to address the sovereign debt crisis in the Global South.
The letter was organized by the Debt Relief for a Green and Inclusive Recovery (DRGR) Project.
