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Blog Post
August 25, 2022
The Russian invasion of Ukraine has created a historic lacuna for European security. A neglected dimension of the wider security conversation is the war’s consequences for global health security. We map these emerging threats from food insecurity to radiation risks, and call for the immediate develo...
Blog Post
August 04, 2022
At the July G20 meeting of finance ministers and central bank governors, a panel of experts (of which I was one) presented their report on the capital adequacy of the MDBs. Why care? the answer, quite simply, is that hundreds of billions of dollars are at stake. As with any bank, small changes in th...
Blog Post
August 03, 2022
Ukraine’s dire financing situation is front and center in the debate over how the world will weather the war being waged by Russia. The IMF will play an important role in extending credit to Ukraine directly, but the institution is also being used a conduit for other countries’ assistance. In this b...
Blog Post
May 10, 2022
Pretty much everyone following the war in Ukraine has seen satellite imagery of Russian convoys trundling across Ukraine, or read about Elon Musk’s delivery of 5,000+ Starlink satellite-internet receivers. News reports are backed up by a wealth of satellite data, which has short-circuited Russia’s a...
Blog Post
April 28, 2022
The idea that shavings of public gold sprinkled like fairy dust on private investment projects would bring to life a giant array of infrastructure and services which in turn would gift us wondrous progress in development hasn’t worked out. It is time to drop the fantasy and focus instead on the test...
Blog Post
April 20, 2022
In 2021, Ghana announced a plan to issue sovereign bonds of up to $2 billion, with proceeds due partially to fund a free secondary school program. Just months later, Ghana’s rising debt burden means this is no longer feasible. Can developing countries tap the social bond market in order to fund publ...
Blog Post
April 05, 2022
Ukraine has close to $2.7 billion in principal and interest payments due to the World Bank and IMF in 2022. The government of Ukraine should not be expected to repay its debt to the international financial institutions (IFIs) while it is mobilizing all its resources to fend off the Russian invasion...
CGD NOTES
March 29, 2022
IMF and World Bank 2022 growth projections for emerging markets and developing economies (EMDEs), released in January this year, were not encouraging. They found that deteriorated macroeconomic fundamentals, partly resulting from policy responses to the pandemic, deep institutional deficiencies, and...
Blog Post
March 18, 2022
The effects of the conflict in Ukraine are reverberating across the world. In Northeast Africa, its ripples endanger the peaceful governance of food and water. Diminished wheat imports from Russia and Ukraine will make Egypt still more conscious of the threat posed to its agriculture by Ethiopia’s G...