Welcome to E3G’s World Bank and IMF Spring Meetings live tracker, providing the latest news from Washington, DC. Join us for the latest updates and analysis of the meetings by our experts.
World Bank and International Monetary Fund (IMF) Spring Meetings are the chance to accelerate the evolution of our international financial system in three areas:
- The World Bank and its shareholders must show that its “Evolution Roadmap” will enable it to unlock billions of dollars needed to help address global challenges, including climate, health and migration.
- IMF management and its shareholders must show it is embarking on a step change to ensure it can strengthen the global safety net, to emerge from this economic crisis and build for the future.
- Finance and development ministers must build confidence that the global financial system will change, to ensure a fairer, more resilient and climate-safe future for all.
Wednesday 12th April
The World Bank Group has published its Paris Alignment Methodology, sharing how they will align their investments with the Paris Agreement. Erin Landy and Laura Sabogal share their analysis of the World Bank Paris alignment instrument notes in this op-ed.
Tuesday 11th April
Sonia Dunlop on the IMF needing to be ready for big MICs to one day need to borrow in case of a big shock:
IMF head @KGeorgieva says that the Fund has to be ready for big MICs to one day need to borrow in case of a big shock – I would add that that shock could be a #climate shock. Climate is macro critical.
— Sonia Dunlop (@soniakdunlop) April 11, 2023
Sonia Dunlop on her suggested agenda for the MDB Presidents meeting:
The 10 MDB Presidents are meeting here in Washington DC this Saturday. Suggested agenda: 1. Intros 2. IFI system reform and respective roles 3. CAF, re-capitalisations and replenishments 4. Bridgetown Initiative response 5. Country platforms on climate and other GPGs 6. AOB
— Sonia Dunlop (@soniakdunlop) April 11, 2023
Dileimy Orozco on Kristalina Georgieva highlighting that the IMF needs to evolve with time to support its members:
@KGeorgieva highlights that the fund needs to evolve with time to support its members with the challenges of the century – and climate is one of them! #ReshapingDevelopment
— Dileimy Orozco (@dile_o) April 11, 2023
Dileimy Orozco on her overview of the start of the World Bank and IMF Spring Meetings:
@KGeorgieva sent a reminder that the world is still facing a “Long Ascent” – her key message back in 2020 – and the strongest climbers are only as fast as the weakest, and the rope that connects them is frail.
— Dileimy Orozco (@dile_o) April 11, 2023
The World Bank released 6 of their Paris alignment sectoral notes
The World Bank Group Sector Notes provide guidance on how the Paris Alignment Instrument Methods and joint MDB Paris Alignment Approach apply to sector-specific issues and are available for all relevant sectors. Read the sectoral notes here.
Monday 10th April
🌏 The global financial system must evolve. The Spring Meetings are a chance to drive some urgent changes in the World Bank and IMF. And they will shape the global consensus for reform to accelerate this evolution.
👨💼 Leaders have been calling for the transformation of the global financial system for many years. Evolution of the World Bank and IMF has begun. The Bridgetown Initiative has sparked real hopes for change. However much more is needed to deal with big economic shocks from the climate and other crises that are affecting us and to navigate the transition.
⌚️ At the Springs, the key leaders of the global economy can answer these calls by setting a rhythm of reform and innovation through the coming meetings.
For Spring Meetings context and the list of experts available for press enquiries, read our World Bank and IMF media advisory.
Sonia Dunlop on President Jin Liqun of the AIIB calling for the world to get into crisis mode on climate:
President Jin Liqun of the @AIIB_Official calls for the world to get into crisis mode on climate. Agree – but then why is AIIB continuing to finance oil and gas? @bigshiftglobal @PriceofOil
— Sonia Dunlop (@soniakdunlop) April 10, 2023
Available for comment
To request background briefings, commentary or interviews, please contact our media team at press@e3g.org or +44 (0) 7783 787 863.
E3G experts available on the ground for background, quotes and analysis
Sonia Dunlop (EN, FR, IT), (Public banks, MDBs)
+44 7970 795 278, sonia.dunlop@e3g.org
Dileimy Orozco (EN, SP), (Senior Policy Advisor, Sustainable Finance)
+44 7876 301 615, dileimy.orozco@e3g.org
Danny Scull (EN), (Evolution Roadmap, World Bank Group)
+1 (301) 787 0942, danny.scull@e3g.org
Franklin Steves (EN, RU, ES, FR), (Bridgetown Initiative and CAF reform)
+44 7484 815 434, franklin.steves@e3g.org
