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POLICY PAPERS
March 18, 2024
The IMF’s Resilience and Sustainability Trust (RST) has been operational for over a year, with the first seventeen countries receiving commitments of financial support. But if lending from the RST is to achieve its objectives, the IMF should make it fitter for purpose by taking a radically different...
CGD NOTES
March 15, 2024
The November guidance on RSF seems to have addressed some of the shortcomings observed in the initial RSF programs. However, as we highlight in this note, other deficiencies remain unresolved and require attention from the IMF’s Executive Board during the upcoming RSF review.
WORKING PAPERS
January 17, 2024
The IMF is filling a critical gap in its mandate by mainstreaming gender into its work. Closing gender gaps is macro-critical because they go hand-in-hand with higher economic growth, greater financial stability, and lower income inequality. Applying a gender lens to macroeconomic, financial, and st...
WORKING PAPERS
November 27, 2023
International financial institutions (IFIs) appear to agree that quality of policymaking sees gains from diversifying the body of policymakers, all issuing diversity, equity, and inclusion statements. But how do these institutions perform when it comes to their own staff— do they lead by example? We...
CGD NOTES
November 14, 2023
In the wake of a challenging year, the Bank of England (BoE) has found itself navigating a tumultuous economic landscape marked by significant upheavals. Following the release of the mini-budget in September 2022, the BoE was compelled to take proactive measures to stabilize the financial system. Th...
CGD NOTES
September 14, 2023
The IMF’s Poverty Reduction and Growth Trust (PRGT) faces large financing needs. Unprecedented levels of lending since the start of the pandemic – four to five times higher than before the pandemic – have seriously depleted the PRGT’s subsidy resources. If these are not replenished, the PRGT’s lendi...
POLICY PAPERS
July 25, 2023
Demand for the IMF's Resilience and Sustainability Trust (RST) is strong, and the RST is becoming the IMF’s de facto climate finance facility. At the same time, the RST faces a number of challenges, including being far too small to confront climate resilience. Early lessons from RST pilots in Costa...
POLICY PAPERS
March 28, 2023
This paper provides an early assessment of five initial programs supported by the IMF’s new facility supported by the Resilience and Sustainability Trust to address two long-term challenges, climate change and pandemic preparedness. We find that its operations can be strengthened to better achieve t...