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Blog Post
May 03, 2021
Most observers gave the IMF high marks for its initial response to the COVID-19 crisis. It responded quickly with emergency financing to 86 countries, including a fivefold increase in its concessional lending to low-income countries. And its leadership was quick to recognize that the unpreceden...
Blog Post
April 29, 2021
The decision to allocate $650 billion of special drawing rights from the International Monetary Fund to the global economy is welcome. One way to use this extra ration of global liquidity will be to bolster the concessional lending pot the IMF has to help low-income countries—the Poverty R...
Blog Post
April 22, 2021
COVID-19 and the economic crisis it unleashed have spurred unprecedented action from governments and international institutions. Multilateral development banks (MDBs) like the Asian Development Bank (ADB) swiftly committed resources to COVID-19 response and recovery efforts in 2020 and 2021, includi...
Blog Post
April 05, 2021
While those lucky enough to live in the United States or Europe fret about the extra weeks before their vaccine jab is scheduled, 6 billion people in developing countries will need to wait months, if not years. COVID-19 vaccine production lags far behind demand, and one reason why developing countri...
CGD NOTES
April 05, 2021
A new IMF rapid credit window could provide some $30 billion to cover the vaccine financing needs for most developing countries through 2021-22. The mechanism would facilitate collective action to negotiate increased production, the main obstacle to achieving vaccine coverage and rectifying the gros...
CGD NOTES
April 05, 2021
Last year at this time, the World Bank announced its intention to provide $104 billion in financing to developing country governments to help them respond to the COVID-19 crisis. We took stock of those efforts seven months ago. More than a year into the pandemic, it’s time to check in again on the B...
Blog Post
April 02, 2021
The American Rescue Plan—the massive COVID-19 relief package recently signed into law—has featured in plenty of headlines. While the vast majority of the nearly $1.9 trillion package is allocated to domestic relief and response, the legislation provides nearly $11 billion in supplemental internation...