1. Billions More for International Institutions? The ABCs of the General Capital Increases (GCI)
- Author:
- Todd Moss, Sarah Jane Staats, and Julia Barmeier
- Publication Date:
- 06-2010
- Content Type:
- Policy Brief
- Institution:
- Center for Global Development
- Abstract:
- 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 losing clients and shedding staff, expanded by $750 billion last year. The World Bank and the four regional development banks for Africa, Asia, Europe, and Latin America are asking to increase their capital base by 30 to 200 percent. A general capital increase (GCI) for these development banks is an unusual request. A simultaneous GCI request is a once-in-a-generation occurrence.
- Topic:
- International Relations, International Monetary Fund, Financial Crisis, and World Bank
- Political Geography:
- Africa, Europe, Asia, and Latin America