Publication

The international financial institutions dramatically increased their lending in 2008–09 to help developing countries cope with the global financial crisis and support economic recovery. Today, these organizations are seeking billions of dollars in new funding. The IMF, which only a few years ago was shedding staff, expanded by $750 billion last year. The World Bank and the regional development banks for Africa, Asia, Europe, and Latin America are asking to increase their capital base by 30-200%. A general capital increase (GCI) for these development banks is an unusual request. A simultaneous GCI request is a once-in-a-generation occurrence.