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CGD NOTES
April 08, 2024
This note presents the concept of Day Zero Financing, a proposed solution for how the world should respond to future pandemics. It begins with a definition of Day Zero Financing, emphasizing its importance and how it operates. The discussion then covers 10 essential aspects of the concept, including...
CGD NOTES
April 08, 2024
This CGD Note outlines a proposal for a New Compact between Gavi and partner countries. We outline a package of policy shifts for Gavi to consider, in line with the core approach of prioritising country ownership and financing of the highest priority vaccines while health aid is provided at the marg...
CGD NOTES
March 11, 2024
Pakistan’s recent economic history shows why it has been so difficult to service the external debt and why this will continue to be a challenge in the future. First, external debt has not been used to expand public investment for many years now; instead, it has largely supported government consumpti...
CGD NOTES
June 16, 2023
In this note we assess the potential short-term fiscal impact of these instruments. We look at three major natural disasters over the past two years and assess how much relief each country would have received if DSCs had been included in the totality of their external debt instruments.
CGD NOTES
October 12, 2021
The phrase “giving with one hand while taking with the other” has rarely been more appropriate than in examining the UK’s recent approach to the aid budget. Under current plans, by increasing its contributions to the IMF’s concessional lending pot, the UK will actually reduce the amount of aid avail...
CGD NOTES
November 18, 2020
We examine the behavior of Chinese government lenders in two debt rescheduling episodes: a “low stakes” case involving Seychelles and a “high stakes” case involving the Republic of Congo. The fact that the Republic of Congo was worse off after rescheduling its debts with Beijing underscores the impo...
CGD NOTES
August 05, 2020
Two out of five low-income countries were in the grips of, or moving rapidly toward, unsustainable debt levels before the global pandemic. But the economic, financial, and fiscal effects of the pandemic have brought the day of reckoning for many countries much closer. The global financial commu...