Rethinking and Reforming the IMF

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.

In the wake of the pandemic, world leaders agreed to a US$650bn allocation of Special Drawing Rights (SDRs) to bolster global liquidity. Countries across the world benefitted, but the lion-share of SDRs are allocated to larger economies in line with their IMF quotas. The G20 and other advanced econo...