World Bank and IMF Spring Meetings closing statement

17 April 2023

Jenny Ricks, Global Convenor of Fight Inequality Alliance said:

“Last week’s World Bank and IMF Spring Meetings have not inspired many outside of the DC bubble. For people on the streets of Khartoum or Kathmandu facing the daily grind of life in this age of deepening inequality, real solutions were most definitely lacking - instead a disconnect from reality by the ruling elites prevailed.

“The reality of crushing debt repayments funded by austerity measures pushing the most marginalised in societies to breaking point didn’t feature in Washington decision making. The answers cannot come from them. Technical debates about slow growth and interest rates are far removed from the daily realities of queuing for mealie meal in Zambia. But the system designed for the rich is the same one that is robbing the poorest.

"Millions around the world fighting for public healthcare, a job, or affordable childcare have had enough of a failing economic model serving only the richest. That’s why there is a huge groundswell of groups are calling for a new system with people’s alternatives shaping an economy that benefits us all. The World Bank and the IMF don't have the answers. We will be mobilising across the world this year in over 60 countries to remake our broken economic system."