The World Bank and International Monetary Fund annual meetings this week come as bilateral aid budgets are dropping and multilateral institutions face mounting pressure to step in to fill gaps, support countries, and address looming debt challenges.
At the same time, both institutions are wrestling with internal change and grappling with how to balance the demands of their largest shareholder — the United States — especially when those demands conflict with the requests of other shareholders.
This is not an era of stability and predictability. As IMF Managing Director Kristalina Georgieva put it in a speech last week: “Buckle up: uncertainty is the new normal and it is here to stay.”
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About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
