Ideas to Action:

Independent research for global prosperity

CGD Policy Blogs

 

An image showing several gold bars.

The IMF’s Gold: A Global Resource or a Chimera?

The market value of the IMF’s gold—about US$170 billion at end 2020—far exceeds its historic cost on the Fund’s balance sheet of under $5 billion. Not surprisingly, this has led some to see the IMF’s gold as a “free” resource that should be tapped to meet pressing global needs. And these calls have become louder as the demands of meeting new challenges—from climate change to the pandemic—have confronted flat or shrinking aid budgets.

An image of a colourful African market

Enabling Substantial IMF Lending to Low-Income Countries for the Recovery

As global leaders begin to put together an international financing package to help low-income countries (LICs) recover from the COVID-19 crisis, they are looking to the International Monetary Fund (IMF) to be a critical financial and policy anchor for LIC’s sustainable economic recovery. We propose a five-step plan that ensures sufficient resources are available to meet a high level of demand for new loans over the next few years.