The recent annual IMF-World Bank Spring Meetings convened the world's leading economists and policymakers in Washington, D.C. What was once regarded as a vital forum to discuss global economic projections and future planning, was overcome by a profound sense of trepidation this year.

As of 2025, the annual financing gap for achieving the sustainable development goals (SDGs) stands at $4.2 trillion. But amid escalating trade wars, adversarial geoeconomics, and market uncertainty, one crucial argument remains overlooked: the path forward demands confronting the root causes of a broken system.

Under the theme "Jobs, the path to prosperity," the gathering in Washington appeared to revert back to outdated macroeconomic models rather than addressing the structural challenges facing low-to-middle income countries (LMICs).

In Africa alone, external debt levels increased by a staggering 240 percent between 2008-2022. By 2023, the debt burdens of LMICs reached an unprecedented $8.8 trillion, forcing more than 12 states to default on payments while plunging 30 of the world's poorest countries into "debt distress."

Recommendations from leading international financial institutions (IFIs) must go beyond........

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