As markets respond to COVID-19, it looks increasingly likely that the IMF and multilateral development bank system will need to provide coordinated countercyclical support around the world.
CGD Policy Blogs
Yesterday the World Bank announced $12 billion in financing available to member countries to respond to the health and economic impacts of the COVID-19 outbreak. There is not much information yet in the public domain on the sources and planned uses for this money, but five questions – each with additional corresponding questions – come to mind when reading the press release:
The US and China Have Very Different Takes on IDA and the Global Fund: Why that Matters for the Future of Multilateral Aid
When it comes to the United States, the reality is that the Global Fund is winning the fundraising game hands down. China, meanwhile, doubled its contribution to IDA—contrast that with the country’s longstanding indifference to the Global Fund. Clearly the world’s most important emerging donor views the multilateral architecture differently than the world’s most important traditional donor does.
In 2016 on the CGD Podcast, we have discussed some of development's biggest questions: How do we pay for development? How do we measure the sustainable development goals (SDGs)? What should we do about refugees and migrants? And is there life yet in the notion of globalism? The links to all the full podcasts featured and the work they reference are below, but in this edition, we bring you highlights of some of those conversations.