GOVERNANCE //
G20 PERFORMANCE ON INTERNATIONAL FINANCIAL INSTITUTIONAL REFORM 2008–2024
100
75
50
25
0
Compliance (%)
Conclusions (% words)
Commitments (%)
“G20 summits consistently stress adjusting quotas and voting power to reflect global economic changes and enhancing the voice of emerging economies”
country’s priorities, with summits led by BRICS members including it as a main theme of their presidency, as seen this year with South Africa; this could result in improved compliance. The G20 can do other things to encourage an upward trend. The evidence shows that the specificity of the commitments – including deadlines – matters. Commitments that include a deadline averaged compliance of 79%, compared to 65% for those without. Also, making fewer commitments on IFI reform correlates with higher compliance. Only two commitments assessed from the 2022 Bali Summit, representing 1% of that summit’s total, achieved 93% compliance, compared with 11 at Pittsburgh in 2009 (9%) that averaged 53%. More research is needed;
however, this initially suggests that the G20 can make fewer highly specific commitments on IFI reform to achieve high compliance with them. CONCLUSION G20 summits consistently stress adjusting quotas and voting power to reflect global economic changes and enhancing the voice of emerging economies. This continuity shows that, although progress is slow, IFI reform remains a persistent priority, reinforced by coordinated pressure from groups such as the BRICS. Understanding these dynamics is key to interpreting shifts in global economic power, the role of emerging economies in governance, and how G20 decisions influence development, financial stability and equity worldwide.
// MARIA FERNANDA ERTHAL Maria Fernanda Erthal is a student at IBMEC University in Rio de Janeiro, where she is pursuing a degree in international relations. She joined the G20 Research Group in 2024 as a compliance analyst, contributing to research on reform of the International Monetary Fund. She has a strong interest in the reform of international financial institutions and the role of emerging economies in global governance.
X-TWITTER g20rg www.g20.utoronto.ca
143 globalgovernanceproject.org
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