REUTERS
By Libby George and Karin Strohecker
21st October 2024
"The IMF-led global social global financial safety net is simply not deep enough anymore"
Ishac Diwan, Research Director at the Finance for Development Lab
Diwan, who spent two decades at the World Bank, said that while full official figures are not yet available, net negative transfers for 2023 and 2024 are likely worse. Fresh funding from the IMF, the World Bank and other multilaterals failed to compensate for the rising costs, he said.