ILO Head Calls for Global Cooperation to Tackle Labour Inequality, Climate Impact, and Social Justice at IMF-World Bank Meetings

Addressing both the IMF International Monetary and Financial Committee and the joint World Bank-IMF Development Committee, Houngbo underscored the essential role of international collaboration for a fair and resilient future of work.

At the recent World Bank Group and International Monetary Fund (IMF) Annual Meetings, Gilbert F. Houngbo, Director-General of the International Labour Organization (ILO), urged stronger international cooperation to combat critical global labour challenges, emphasizing coordinated action on social justice, employment, and climate-related impacts in the workplace. Addressing both the IMF International Monetary and Financial Committee and the joint World Bank-IMF Development Committee, Houngbo underscored the essential role of international collaboration for a fair and resilient future of work.

"The complex challenges in today’s labour market – from inequality to climate impacts – demand a collaborative global approach," Houngbo stated. He highlighted the Global Coalition for Social Justice, an ILO-led initiative launched in November 2023, as a pioneering platform to drive impactful solutions for global social justice. The coalition, which includes over 300 partners, 85 governments, and 40 international organizations, focuses on reducing inequalities, alleviating poverty, and advocating for decent work worldwide.

The ILO’s latest projections reveal uneven job recovery across global regions, with women and developing economies facing significant employment gaps. While the global unemployment rate is expected to stabilize at 4.9% through 2025, the distribution of jobs is skewed, and labor underutilization is prevalent in developing nations. "Our collective focus must remain on generating quality jobs and expanding social protections, particularly in the most affected regions," Houngbo said.

Highlighting the critical role of increased financing for social protection, education, healthcare, and employment policies, Houngbo called on developed nations to meet their commitments under Official Development Assistance (ODA) frameworks. He noted that many African countries face substantial financing shortfalls in efforts to ensure universal social protection.

Houngbo further advocated for reform in international financial structures, calling for innovative financing mechanisms and closer coordination between development partners and national governments. This would better align global development aid with local priorities, providing a pathway for debt management reforms that prioritize the long-term economic health of heavily indebted countries.

"The international community must support debt management solutions that align with countries' goals for decent work and fiscal health," he stated. Such changes would enable countries to maintain fiscal stability while prioritizing employment, social justice, and equitable development.

Concluding his address, Houngbo reaffirmed the ILO’s commitment to lead the global charge for social justice, noting that only through strengthened international cooperation can a sustainable, resilient, and just global labor market be achieved.