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CGD Policy Blogs

 

Senator Chris coons speaking at a podium with an American flag behind him

USDFC Monitor: A Q&A with Senator Chris Coons

While reflecting on DFC’s progress in implementing its core development mandate, and confronting the challenges posed the COVID-19 pandemic, we reached out to Senator Chris Coons (D-DE), a lead sponsor of the BUILD Act and a member of the Senate Foreign Relations Committee. We asked Senator Coons for his take on how the newest US development agency is faring and what he hopes to see in DFC’s future.

Two US$100 bills on top of a map of Latin America

Ensuring Financial Stability in the Era of COVID-19: Recommendations for Latin America and the Caribbean

With a surging pandemic, income losses, and a deepening recession, Latin America and the Caribbean is facing a health and economic crisis that will test its financial systems like few events in modern times. The blow, however, can be softened. Banks as well as governments and central banks can play a crucial role, providing financing to lessen the impact on families and firms and to speed the recovery.

An image of money, to illustrate the proposal for special drawing rights

New SDRs? That Pesky 85 Percent Approval

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.

Image of citizens for fiscal policy

While Creating Fiscal Space for COVID-19 in Developing Countries, Be Sure to Consult Civil Society

Even as the COVID-19 curve begins to flatten in the Northern Hemisphere, the developing world is just starting to feel its onslaught. Just as in the United States, where some of the most effective responses to the global pandemic are generated locally, the success of developing countries will also be determined by the actions of local leaders, citizens, and organizations—including fiscal responses.

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