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World Bank/IMF Spring Meetings, 2017, Brendan Cody, GWU student and Impact Investing Intern

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In April, 2000, 10,000 protesters gathered outside the World Bank/IMF Spring Meetings to express passionate disapproval of globalization and to express concern about growing income inequality.

Chaos erupted and upwards of 1,000 people were arrested. Seventeen years later, at this year’s World Bank meetings, there are no protesters to be found in Foggy Bottom. The World Bank has attempted to incorporate some of the protesters’ concerns into their Spring Meeting event schedule: they have increasingly emphasized income inequality and other issues. This progress was displayed at the Civil Society Organization (CSO) Roundtable on April 18: CSOs posed their questions directly to World Bank executive directors.

The questions were direct, opening with “How can the bank do more to provide relief in wars and other crises?” Executive director Merza Hasan brought attention to the relief efforts of the past, but suggested there was room for improvement. The comments were in line with World Bank P…

Takeaways from the IMF/World Bank Spring Meetings

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Each spring "the International Monetary Fund (IMF) and the World Bank Group..bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness." We have attended this event for the past six years. Prior to the event, the IMF issues a Global Spring Meeting Economic Forecast, this year predicting the world's economy will grow by 3.2% in 2016, down from the 3.8% forecast issued last year. This decline was due mainly to an increase in political ( as opposed to purely economic) risks. Keep in mind that these are the same factors (austerity as an inappropriate focus on reducing deficits in a time of recession, inability to rationally address the causes and solution to the crisis) that led to the shallow global recovery in the first place. Our analysis indicates that the key risks to the global …