Rethinking and Reforming the IMF

It has been almost two and half years since the IMF launched the Resilience and Sustainability Facility. While the RSF saw a strong initial uptake, demand peaked in 2023 and has since tapered off. Two key features of RSF eligibility and program design are inhibiting its uptake by countries.

Since its launch in November 2022, the Pandemic Fund, housed at the World Bank, has committed $885 million in grant financing to strengthen pandemic prevention, preparedness, and response (PPR) in developing countries. In December 2024, it invited new proposals for an additional $500 million in fina...

MDBs need more firepower to help low- and middle-income countries weather the climate transition. Their proposal to use SDR-funded hybrid capital to increase loans has merit but is mired in conservative interpretations of its use and the inability to use mutually a class of reserves globally. Alloca...

The International Monetary Fund and the World Bank were created to assist members facing financial crises, but are they ready to respond to Africa’s looming oil shock? The short answer is no, but as we explain in a new paper, the IMF and World Bank can act now to avert a future crisis.