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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...
CGD NOTES
May 07, 2020
The global effort to control the COVID-19 pandemic has seen an exceptional allocation of public and philanthropic funds to advance the development of diagnostics, therapeutics, and vaccines as quickly as possible. While critical, even these significant commitments represent only a “down payment” on ...
CGD NOTES
September 24, 2019
Global health interventions, like many public policies, are rife with uncertainty. Will a program, such as a malaria prevention strategy that looks strong on paper, work as intended? Will a new technology, such as a specific drug or device that appears effective in clinical trial settings, work in p...
CGD NOTES
April 08, 2019
Criticising cancer medicine pricing as too high is what football fans know as an "open goal"—a target that is hard to miss. Yet somehow the World Health Organization Technical Report on Cancer Pricing manages to do just that with a paper to the WHO Executive Board calling for pri...