This week, the international development community will gather in Bangkok for the Annual Meetings of the International Monetary Fund (IMF) and the World Bank. Amid pressing development needs and empty public purses, the Governors of the World Bank will discuss (one time more) how to mobilise private capital at scale, a pledge the international community has made but failed to realise. Multilateral Development Banks (MDBs) have been the predominant mobilisers of financial resources, accounting for 71% of the total mobilised private finance, with current mobilisation figures standing at approximately $108 billion per annum. However, this is only a tiny fraction of the private investment needed to achieve development and climate goals, highlighting the urgent need for a change in mobilisation approaches. (mehr …)
The G20 Finance Ministers and Central Bank Governors are meeting this weekend in Fukuoka, Japan, for their final meeting ahead of the G20 Summit at the end of the month. One issue that should feature high on the agenda is the rise of debt levels in many developing countries.