Centering Wellbeing Economics: Rethinking Development in the Global South

We are thrilled to share the recording of our Civil Society Policy Forum 2024 session, held during the IMF-WBG Annual Meetings, titled “Centering Wellbeing Economics: Rethinking Development in the Global South.”

In this dynamic session, we critically examined how extractive investments in sectors like oil, gas, renewable energy, and agriculture—often backed by international financial institutions (IFIs) such as the World Bank Group and its International Finance Corporation—reinforce neocolonial patterns of exploitation. The discussion drew on powerful case studies from Egypt, Morocco, Argentina, Pakistan, and Suriname to spotlight the social, economic, and environmental costs of these unsustainable growth models.

Our expert panelists explored bold alternatives rooted in wellbeing economics, a framework that prioritizes community-centered, equitable, and sustainable approaches to development. Together, we delved into the urgent need to rethink the role of IFIs in shaping development agendas and chart new pathways for a just and inclusive transition for the Global South.

Panelists:

• Fiza Qureshi – Gas Campaigner, Big Shift Global
• Farah Galal – Gender and Economic Justice Officer, MENAFem Movement
• Leandro Gomez – Investment and Human Rights Programme Coordinator, FARN
• Daniela Berdeja – Sovereign Debt Analyst, Latindadd
• Hanen Keskes – Campaigns Lead, Greenpeace MENA

Moderator: Claire O’Manique – Public Finance Analyst, Oil Change International

This session was an opportunity to amplify the voices of those advocating for systemic change and to inspire a broader commitment to wellbeing economics as a transformative alternative to extractivism. We hope it sparks further dialogue and action!

Missed the session? 🎥 Watch the full session recording below to delve into the transformative possibilities of wellbeing economics as a foundation for equitable and sustainable development in the Global South.