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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...
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...
BRIEFS
October 11, 2022
We are living in a time when many countries face heightened debt vulnerabilities. There is no international bankruptcy mechanism for countries that default on their external obligations. The objective of the international financial architecture—historically overseen by the IMF and its shareholders— ...
POLICY PAPERS
October 04, 2022
Global reserves can serve as a global public good, facilitating the short-term global recovery from the economic impacts of the pandemic and Russian invasion of Ukraine, as well as the longer-term global transition to a sustainable and equitable economic future. Strategic allocation of Special Drawi...