Managing Director Kristalina Georgieva, UK Business and Trade Committee Chair Liam Byrne, and World Bank President Ajay Banga speak at the Global Parliamentarian Forum during the 2025 Spring Meetings of the World Bank Group and International Monetary Fund in Washington, DC, on April 21, 2025.

IMF Photo/Joshua Roberts

Implications of lack of reform at IMF and World Bank grow more serious as threats to multilateralism, the democratic state and geopolitical tensions deepen.
Despite important policy and process reviews and organisational restructures at BWIs, hopes of reform remain low.
Trade tensions challenge the role and relevance of the Bank and Fund as austerity and private capital mobilisation orthodoxy remains.

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