Drawing on work done jointly with CGD, New York University’s Center on International Cooperation (CIC) just released a paper by Marc Jacquand that makes the case for better IFI-UN coordination in fragile states to better identify macroeconomic and political vulnerabilities, anticipate the tipping points that can arise from their interaction, and structure preventive support accordingly. In this blog, we discuss some of the key issues that the CIC paper—and our joint work—raise and plot a course for future research and analysis.
CGD Policy Blogs
This week the IMF released new global economic growth projections in the face of COVID-19, updating their earlier projections from June and from April before that. In recent weeks, the World Bank has also released new projections for various regions. Here are six takeaways that we gleaned from reviewing those and dozens of other projections from other organizations over the course of the year.
Our recent paper examining the World Bank’s COVID-19 performance garnered a response from the institution, which you can read here. We very much welcome the bank’s comments on its crisis performance in reaction to our paper. We stand by the data and conclusions of our paper, but it’s worth reviewing some of the issues under debate here and reiterating the core questions and findings from our work.
Making the $12 Billion Go Further: Four Things the World Bank Can Do in Support of COVID-19 Vaccination Efforts
To maximise the impact of this badly needed investment to combat COVID and, most importantly, to avoid any perverse and potentially catastrophic implications of World Bank financing undermining current global efforts led by Gavi and CEPI, we propose that the World Bank commit to the four principles below.
The World Bank has committed to providing $104 billion in financing by next June to help developing countries deal with the COVID-19 crisis. Is that sufficient to meet the needs of developing countries facing a massive growth contraction? And will the bank actually deliver on its pledge?