Georgieva row reveals a murky truth about global financial institutions — they are influenced by geopolitics| Financial Times plus comment (1)

World Bank and IMF are membership bodies with core shareholders who are not independent from geopolitics
— Read on www.ft.com/content/b30e0df2-0da2-4341-b3a3-6f3df85c7eca


Related: Georgieva survives

https://www.ft.com/content/f0db92e6-38f4-44e6-ba54-831b8b526dcf

My comment: Rather than dictate to countries, these institutions can and should improve the way they provide guidelines on what works best to achieve sustainable development goals and stem climate change.

They can alert people in countries when any single government pushes up against those rails.

This week the IMF group …committed to significantly scaling up the Poverty Reduction and Growth Trust, and this is a critical source of IMF financing to the poorest countries.

And the IMFC also expressed support for establishing a resilience and sustainability trust. The purpose will be to provide much needed financing to vulnerable members to reduce risks, including those related to climate change and pandemics.

The IMF will collaborate closely with the World Bank in developing and implementing this trust, and we agree that health care and support to the most vulnerable groups should remain priorities. (IMF)

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