This week, the IMF re-organized the system of voting rights, increasing the voting power of China, Mexico, South Korea and Turkey, and the World Bank indicated that it would also be willing to consider a similar shift. But Africa Action notes that while developing country finance ministers and civil society from around the world have pushed for a more representative voting structure, these latest minor changes still leave power disproportionately concentrated in the hands of the wealthiest nations.

Ann-Louise Colgan, Acting Co-Executive Director of Africa Action, said today, "The World Bank and IMF persist in ignoring the priorities of the developing world, and African countries continue to pay the price. The decisions made by these institutions have long-lasting effects on African countries, and yet there is little opportunity to hold them accountable. As a result, Africa’s illegitimate debt burden remains at overwhelming levels, and the World Bank and IMF continue to impose unfair conditions on Africa’s economies."

The latest World Bank and IMF focus on anti-corruption has raised concerns that these priorities will overshadow other efforts on debt cancellation and poverty relief. Africa Action also notes that the corruption of the international financial institutions themselves must be tackled in this context. In addition, the institutions’ statements on the importance of good governance came into stark contrast this week, as the world witnessed the repressive treatment of civil society activists by the Singapore government.

Marie Clarke Brill, Acting Co-Executive Director of Africa Action, said today, "In reaction to the exclusion of some activists considered threats by the government of Singapore, civil society groups organized a boycott of the official annual meetings. This boycott highlighted the gap between World Bank and IMF professed concerns and their actual priorities. Meanwhile, an alternative civil society conference held on the island of Batam in Indonesia clearly demonstrated the focus and solidarity of movements around the world seeking a more just global economic system."