Last week Senator Bernie Sanders and Congresswoman Ilhan Omar sent a letter signed by hundreds of lawmakers from 40 countries to the heads of the International Monetary Fund (IMF) and the World Bank, urging them to greatly increase the access of developing countries to financial assistance. They called for a new issue of Special Drawing Rights (SDRs) at the IMF, echoing the earlier plea of Gordon Brown and Larry Summers for at least $1 trillion in new SDRs.
CGD Policy Blogs
Following on from the recently convened meetings of the IMF and World Bank, Masood Ahmed lays out a two track agenda for the COVID-19 financial response.
As low- and middle-income countries are hit by the health and economic effects of COVID-19, the international community is working to mobilize billions of dollars in grants, loans, and debt relief. At the moment, it is difficult to get a full picture of the funding on offer, to whom it is given, and how it will be used.