The COVID-19 pandemic has pushed 120 million people across the globe into extreme poverty, and the limited data available thus far suggests that the wealth of extremely rich individuals has risen at the same time. In this blog post, we provide new evidence that in addition to its human cost, terrorism can have important consequences for public budgets. Most of the costs of terrorism—like loss of life and political upheaval—are well-known, but the macroeconomic and fiscal impacts are less well understood.
CGD Policy Blogs
A new allocation of Special Drawing Rights (SDRs) amounting to some $650 billion is now expected the end of August. This allocation of an IMF reserve asset, intended to help countries weather the economic crisis created by COVID-19, will be more than 2½ times the size of the last allocation and substantially boost countries’ gross international reserves. For many low- and middle-income countries (LMICs) these added reserves will provide policymakers much needed room for maneuver as they continue to struggle with huge economic impact of the global pandemic and its aftermath.
The US International Development Finance Corporation (DFC) is the $60 billion agency that’s supposed to catalyze investment to capital-starved countries, bolster job-creation in emerging markets, and support US foreign policy. The BUILD Act which created the DFC was a bipartisan bill, carefully crafted to overcome long-standing objections from both liberals and conservatives to its beleaguered predecessor agency. Recent actions from the Hill and the White House, each one arguably unobjectionable on its own, all add up to a highly worrying erosion of the DFC’s mandate—that threaten both the political bargain that sustains the agency and US strategic goals across Africa.
Through CGD’s COVID-19 Gender and Development Initiative, the Social Protection Approaches to COVID-19: Expert Advice Helpline (SPACE) and ODI’s research project on social protection response to Covid-19 and beyond, we have each explored the ways in which the crisis has magnified various forms of gender inequality, how social protection efforts aim to address these inequalities, (or in some cases may risk exacerbating them), and propose recommendations to ensure an inclusive recovery, including by harnessing gender-informed social protection.
If B3W is to be the better Belt and Road, it will have to embrace the role of government in infrastructure provision and ensure private sector infrastructure projects are designed and run in the public interest. Otherwise, and despite the denials-, low- and middle-income countries would be right to see it as not about them, but just about China.
Today, Melinda French Gates announced that the Bill & Melinda Gates Foundation will make a five year $650 million commitment to furthering economic empowerment for women around the globe - and that the commitment will focus in three areas: cash, care, and data. Sound familiar? That’s because this is the three pronged plan that CGD researchers with our COVID-19 Gender & Development Initiative proposed for how global decision makers can help ensure an inclusive recovery -- one that equitably benefits women and girls.
You may have missed a recent dry-sounding but groundbreaking report,. It summarizes data from the Global Emerging Markets (GEMs) Risk Database for a set of 11 multilateral development banks (MDBs) and development finance institutions (DFIs) on default rates on their credits to private and sub-sovereign borrowers, which accounted for 82 percent of exposure in 2019.
The Center for Global Development is excited to introduce the members of our second annual Summer Delegates program!
This coming week at the Generation Equality Forum in Paris, governments and partners across sectors will come together to make concrete commitments to move the needle on gender equity and inclusion. The timing cannot be more vital, especially as the pandemic has unveiled the many systemic inequalities and services that are failing to meet women’s needs, hindering our collective ability to build back better and renew our societies.
Most oxygen disasters across India could have been avoided. This blog describes the current model of medical oxygen supply in India, outlines the response to the oxygen crises, including the problem of severe oxygen shortages in some Indian states, and provides recommendations on how India could prevent the next crisis stemming from shortages in oxygen.