The 80th Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF), institutions born out of the Bretton Woods Agreement, ended in Washington a few days ago against a backdrop of unremarkable global economic growth projections and mounting geopolitical tensions. Despite the muted anniversary celebrations, these institutions’ roles in international finance remain important as ever, especially for the emerging markets and developing countries (EMDCs) that rely heavily on multilateral support.
The Annual Meetings emphasized the need for more decisive action in addressing public debt, enhancing financial architecture reform, and adapting policies to reflect the unique needs of EMDCs.

The RegTech joined the large event of more that 8000 participants and shared our perspectives in the field of digital transformation and the importance of implementing digital solutions to improve governance and domestic revenue mobilization in the countries of the developing world. The following is the review of our conclusions!
5 Key Takeaways
- Urgency in Addressing Economic Instability for Vulnerable Nations: The World Economic Outlook forecasts sluggish growth over the next five years, with EMDCs disproportionately impacted by disinflation, interest rate hikes, and geopolitical conflicts. There is a need for reliable support mechanisms, as the IMF and World Bank’s inconsistent assistance to conflict-ridden areas like Gaza and Lebanon raises concerns about fairness in multilateral cooperation.
- Debt Restructuring Reform: With global debt projected to exceed $100 trillion, EMDCs face significant fiscal pressure. Calls for a more comprehensive debt restructuring approach include greater flexibility in Special Drawing Rights (SDRs) and reduced surcharges by the IMF to incentivize struggling nations to join restructuring efforts.
- Enhancing Governance and Transparency: The World Bank’s redefined development frameworks, such as the new Corporate Scorecard, have sparked debate due to limited transparency and stakeholder input. There’s an identified need for more inclusive governance practices, incorporating accountability mechanisms and civil society engagement for credible and impactful policymaking.
- Promoting Inclusive Financing Solutions: IMF surcharge policies continue to burden low-income countries, despite ongoing reform. An expedited review and expanded concessional financing, especially for climate-vulnerable nations, would help alleviate these pressures and build a more equitable funding environment.
- Bridging the Digital Divide: Limited digital access remains a barrier to economic growth, particularly in low-income countries. Digital inclusion was highlighted as critical to equitable economic development, with emphasis on cross-border cooperation, public-private partnerships, and increased investments in infrastructure to promote digital literacy and connectivity in underserved regions.
IMF & World Bank: Unmet Promises of Economic Stability and Support for Vulnerable Nations
The World Economic Outlook (WEO) delivered at the meetings offered a sober prediction for global growth, expected to hover around 3.1% over the next five years. This projection contrasts sharply with the more optimistic pre-pandemic levels, highlighting the ongoing instability and underscoring the need for immediate support mechanisms for struggling economies. With disinflation and interest rate hikes pressuring EMDCs disproportionately, these regions are also grappling with disruptions in commodity supply, conflicts, and extreme weather events—all contributing to downward revisions in their economic forecasts.
What remains most concerning is the inconsistent support extended by the IMF and the World Bank to conflict-affected regions. While the IMF has relaxed its conditionality rules to aid Ukraine, it has refrained from taking similar actions for other conflict-ridden regions such as Gaza and Lebanon. This inconsistency signals a fractured multilateral cooperation model that is eroding trust in international finance and needs urgent realignment. As South Africa prepares to assume the G20 presidency, there is a renewed push for reform of the international financial architecture to enable fair and consistent support. The path forward must prioritize inclusivity in decision-making, ensuring that all countries, regardless of their geopolitical alliances, receive the support they require.

Debt Restructuring: Beyond Stopgap Measures
One of the stark realities confronting EMDCs is an unprecedented public debt burden, forecasted to surpass $100 trillion globally. The Annual Meetings reiterated the challenges of debt restructuring, with the G20 Common Framework yielding only marginal progress. While countries like Zambia and Ghana have achieved limited debt relief, a comprehensive, sustainable framework remains out of reach. For the IMF, debt remains a liquidity issue, and the institution has resisted introducing new Special Drawing Rights (SDR) allocations to ease fiscal pressures.
Civil society organizations (CSOs) have called for a broader debt workout mechanism under the United Nations, a proposal that warrants serious consideration. Acknowledging debt as a systemic crisis rather than a short-term liquidity issue is vital for developing a sustainable debt restructuring mechanism. In addition, the IMF must address the reluctance of indebted nations to participate in debt restructuring programs, largely due to the fear of jeopardizing market access and growth prospects. Concessional financing, backed by a flexible SDR allocation and IMF reforms to reduce surcharges, would facilitate broader participation and address these concerns, ultimately laying a foundation for long-term fiscal stability.
IMF & World Bank: Addressing Governance and Transparency Deficits
The World Bank’s attempts at redefining its development mandate have exposed a governance identity crisis. The recently launched Corporate Scorecard and the 21st replenishment of the International Development Association (IDA21) reflect a lack of stakeholder engagement and transparency, with little explanation provided on the rationale behind narrowing indicators or policy priorities. Without input from accountability mechanisms or civil society, the legitimacy of these frameworks remains tenuous.
Meaningful reform in the Bank’s governance model must start with greater transparency and enhanced stakeholder consultation. To achieve this, the World Bank must formalize a review mechanism for its Corporate Scorecard and strengthen its engagement with CSOs and accountability bodies, fostering a collaborative approach that reinforces the legitimacy of its policies. Furthermore, integrating robust metrics on economic transformation and accountability within the Scorecard will ensure that progress is not only measurable but also responsive to the real needs of vulnerable economies.

IMF Surcharges and the Road to Inclusive Financing Solutions
The IMF’s surcharge policy was another focal point during the Annual Meetings. Despite recent reforms aimed at reducing surcharges, the current system continues to place a heavy burden on lower-income countries, particularly those already struggling with climate-related challenges. While the Fund has committed to reassessing its surcharge policy every five years, the pace of reform remains insufficient to mitigate the immediate financial pressures facing vulnerable nations.
To create an inclusive financial environment, the IMF should consider an expedited surcharge review, with special considerations for climate-vulnerable nations. By restructuring surcharges, the IMF could reduce financial strain on low-income countries while fostering a more equitable funding mechanism. Additionally, expanding concessional financing through the Poverty Reduction and Growth Trust (PRGT) would provide a more immediate relief for countries in crisis, while the sale of IMF gold reserves—despite pushback from key stakeholders—could offer a viable solution to bolster concessional funds.
IMF & World Bank: The Digital Divide as a Barrier to Growth and Opportunity
More than 1.8 billion people remain offline, with a disproportionate concentration in low-income regions. This exclusion reinforces economic divides and restricts access to digital resources that could otherwise improve governance, livelihoods, education, and access to healthcare. But even among those who are connected, millions lack essential digital skills or the infrastructure necessary to leverage the digital economy fully. For many, limited access to high-speed internet, prohibitive data costs, and outdated technology act as roadblocks to meaningful digital participation.
As artificial intelligence and advanced technologies drive rapid transformations in advanced economies, the gap in access to these tools only widens. Low-income nations are increasingly disadvantaged, with slow internet speeds, limited digital literacy, and expensive data plans impeding their progress. This technology divide intensifies economic disparities and prevents developing countries from tapping into the transformative potential of the global digital economy. These conditions make digital inclusion not only a technological concern but an economic one that directly impacts GDP growth and job creation, particularly in emerging markets.

Digital Cooperation: Unlocking Shared Prosperity
Addressing digital inequality requires cross-border collaboration that encourages investment, supports regulatory reforms, and facilitates technology transfer. Initiatives like the Digital Cooperation Organization (DCO), an intergovernmental body focused on digital inclusion and economic development, exemplify the power of collective action. Through projects such as the Digital Foreign Direct Investment (DFDI), in partnership with the World Economic Forum, the DCO helps member countries develop favorable environments for digital investment.
This collaboration modernizes regulatory frameworks and builds the digital infrastructure required for connectivity, from data centers to high-speed networks. Local talent also receives a boost through digital skills programs, ensuring that communities can not only access but benefit from digital opportunities. By fostering these digital-friendly climates, the DCO model illustrates a pathway for other international organizations to support sustainable economic growth, empower local innovation, and stimulate job creation, especially in underserved regions. Such initiatives underscore the potential of well-structured international cooperation in making digital inclusion a priority for economic development.
Public-Private Partnerships: Accelerating Digital Inclusion
Bridging the digital divide demands the combined efforts of governments, private enterprises, and international institutions. Tech giants like Google, Microsoft, and Oracle have extended initiatives for internet access and digital literacy across the globe, but the scale of the challenge requires even broader collaboration. By partnering with these companies, the IMF and World Bank can encourage investment in digital infrastructure, particularly in areas that remain disconnected. These partnerships offer a promising route to sustainable, inclusive digital economies.
Guided investments are essential, and tools such as the Digital Economy Navigator, which tracks digital maturity across 50 markets, enable data-driven strategies for expanding connectivity. This tool allows governments to identify high-impact areas for growth, maximizing the effectiveness of investment in digital infrastructure. The IMF and World Bank, through targeted funding, policy advocacy, and capacity development can scale these efforts and facilitate partnerships that directly address connectivity challenges. By emphasizing digital inclusion as a strategic objective, global institutions help ensure that economic development goals are pursued with lasting impact.

A Commitment to Equity in the Digital Economy
Achieving true digital inclusion goes beyond access to technology; it involves promoting equitable opportunities that empower individuals and communities. Access to digital resources can elevate marginalized groups, enabling them to pursue education, entrepreneurship, and employment opportunities that were previously out of reach. Programs focused on digital literacy for women and marginalized communities offer pathways to overcome economic and social barriers. The WE-Elevate initiative, for example, supports women-led businesses by providing digital enablement, global market access, and vital capacity-building resources.
Supporting gender equity in the digital space is not only a moral imperative but an economic one. When underserved populations have access to digital tools, communities can thrive and build more resilient, diversified economies. Technology transfer offices in emerging markets play a significant role by bridging the gap between innovation and the creation of solutions tailored to local needs. This grassroots approach amplifies the impact of digital inclusion, aligning technological progress with broader social and economic goals.

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