Adequacy Frameworks News Today

The New Delhi Declaration of the G20 reiterated the commitment to reform multilateral development banks. finance ministers have taken this forward at Marrakesh but changes won't occur overnight - Issue Date: Nov 12, 2023

Ahead of the highly-anticipated World Bank-IMF Annual Meetings in Marrakech, the Center for Global Development has unveiled a new tool to track reforms at the multilateral development banks. The Multilateral Development Bank (MDB) Reform Tracker is an innovative platform that explores how the six largest MDBs[1] are making progress on the three major reform agendas:

G20 leaders recognise the pivotal role the multilateral development banks (MDBs) play in tackling global challenges and supporting sustainable development. Now they must more clearly define and carry forward the agenda with urgency and at scale.

Volume II of expert group’s report to be presented in October during World Bank-IMF annual meetings

Innovative financing options should be adopted for the global economy to recover evenly and all sustainability goals to be met

My judgement is that the MDB reform needle wasn’t so much moved as sharpened—the G20 Finance Ministers have made clear what the immediate priorities are. The G20 will have a chance to weigh in on the MDB agenda again in September when India chairs the Leaders’ Summit. Ideally, they will have a bit more to say about the poorest.

Radically reformed and strengthened MDBs are essential to address the immense global challenges in today’s world. The welfare of billions of people and the health of the planet, the foremost example of a global public good (GPG), are under threat. To make matters worse, the problems are getting bigger; the SDGs are badly offtrack, with over 600 million people still living in extreme poverty, and there is an intense urgency to address problems of climate change and nature conservation and prote...

NK Singh, co-convener of the G20 independent expert group, emphasised the need to constitute a “global challenges funding” mechanism that can garner an additional $20 billion for global public goods. | Latest News India

The Third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Indian Presidency was held during 17-18 July 2023 in Gandhinagar, Gujarat. The meeting was jointly chaired by Union Minister of Finance and Corporate Affairs Smt. Ni

Andrew Mitchell, Minister for Development and Africa delivers a closing speech at the 2023 Caucus of African Governors of the World Bank and IMF.