By Samantha Igo From April 21-26, 2025, all eyes in the global economic governance space will turn to Washington, DC as the 2025 International Monetary Fund (IMF)/World Bank Spring Meetings kick-off amid a rapid-fire news cycle, tumultuous geopolitical environment and ongoing calls for structural reform to the international financial architecture. While expectations for meaningful progress […]
At a time when developing countries need to ramp up investment to achieve development and climate goals, tax revenue is particularly urgent. A global tax system weighted towards multinational companies makes collecting this revenue more challenging. International cooperation can help correct these imbalances, but a major question is how and where these negotiations should occur: […]
By Tim Hirschel-Burns and Marina Zucker-Marques Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance, and they are overdue for reform. Quotas are the primary funding source to support the IMF’s lending and operations, and they determine the amount countries can borrow from the IMF, their share of Special Drawing […]
Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance. Beyond serving as the IMF’s primary funding source to support IMF lending and operations, quotas shape members’ access to financing, allocation of Special Drawing Rights (SDRs) and voting power. This year, the IMF stands at a crossroads as it is set to […]
By Kofi Gunu, Marina Zucker-Marques and Rishikesh Ram Bhandary On March 28, 2025, Myanmar suffered a magnitude 7.7 earthquake, which caused devastating loss of life and property. Current reports put the death toll over 3,400, with 4,671 injured and 214 missing. As survivors continue to tally up the damage from this shock, this much is […]
The current international financial architecture is misaligned with the United Nations 2030 Sustainable Development Goals and the Paris Agreement. External financing flows to emerging market and developing economies, excluding China, need to increase by at least $1 trillion annually by 2030, but the highest level in the past decade was roughly one-third of what is […]
In the 2024 United Nations Pact for the Future, global leaders committed to scaling up and reforming international financial institutions to make them fit to meet the global challenges of the 21st century. Moving forward, there are two vital opportunities for the global community to revive global efforts to address these urgent challenges: the Fourth […]
There is a growing concern about the potential impacts of climate change on financial stability but little quantitative evidence is available on the potential magnitude of financial risks induced by climate extremes. An accurate assessment of climate physical risk is fundamental for global financial risk management. In a new journal article published in Nature Climate […]
By Tim Hirschel-Burns In late June, the Fourth International Conference on Financing for Development (FfD4) will take place in Seville, Spain. Despite challenging geopolitical circumstances, the conference – which is the first in 10 years and almost certainly the last FfD before the critical 2030 milestone – will still play a key normative role as […]
By Tim Hirschel-Burns 2025 admittedly presents a dubious landscape for achieving substantive global economic governance reforms. The scale of needs is large—achieving development and climate goals demands trillions more in annual financing and a reorientation of our economic system—while our political context is trending in the wrong direction, with countries cutting international investments and geopolitical […]