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An image of melting polar icebergs.

A New IMF Facility to Support the Green Transition?

Climate change poses extraordinary threats to macroeconomic stability and global prosperity, and since the IMF’s purpose is to foster both objectives, its help in addressing these threats is central to its mandate. While the IMF is focusing on how to adapt its policy advice, a strong case can be made too for launching a new lending instrument: a Green Transition Facility.

An image of a graph showing Median annual Gini coefficient in LIDCs around a fiscal tightening, by tightening type

Low-Income Developing Countries Will Surely Need More Debt Relief Down the Line

The COVID-19 pandemic has left a large dent in the government budgets of low-income countries (LIDCs). During 2020, they had no choice but to increase public spending to fight the pandemic at a time when shrinking economic activity depressed their revenues. In this blog post, we argue that while these efforts to expand the flow of concessional resources to LIDCs are laudable, they are unlikely to be sufficient and, going forward, some form of debt relief will be necessary to secure fiscal sustainability down the road for these countries. 

The flags of the G20 countries outside in front of a cloudy sky

Which G20 Finance Ministers Are Freeriding on Their Peers?

In this blog, we draw on our newly published Finance for International Development (FID) measure, using the most up-to-date data now available (from 2018) to give an idea of the baseline efforts of the G20. We hope ministers and officials will use this information in considering the level of their and others’ financial commitments (given their income levels) and encourage a step up from the laggards—most obviously Argentina, Australia, Canada, Italy, Mexico, Russia, South Korea, and the United States.

An overhead show of Dhaka, Bangladesh

Bangladesh: Growth Miracle or Mirage?

Among South Asian economies, Bangladesh is touted as a rising star.  But is the praise entirely justified? Can Bangladesh now serve as a model for other countries, perhaps offering an alternative to the longstanding East Asian export-led growth paradigm? The jury is still out however, and the evidence raises doubt that the East Asian icons face serious competition from Bangladesh—at least not yet.

An image of Benjamin Franklin wearing a mask on the $100 bill

MDBs As First Responders? The COVID-19 Record So Far

How have the MDBs responded to the COVID-19 crisis? A CGD note just published assembles data published so far for four of the major MDBs on their financial commitments to governments and the private sector in 2020 compared to 2008-2009 during the Global Financial Crisis. Here we summarize the sobering results.

An oil rig from a distance

Four Challenges for Fossil Fuel Producing Countries in the Low Carbon Transition

President Biden’s announced target to achieve a 50 percent reduction in greenhouse gas emissions within a decade is a tremendous boon to the Paris Climate Agreement goals. Without diminishing the positives of this reset of US policy, it is still important to remember that, with any seismic shift, there will be winners and losers. Recent research has discussed the emerging challenge of fossil fuel producing countries, which risk losing entire swathes of their economies’ production capacities, and thus their wealth.

An image of country flags from all over the world.

How to Assess the Quality of Official Development Assistance (QuODA)

There is a lot of money being spent on official development assistance (ODA). The Organisation for Economic Co-operation and Development (OECD) confirmed recently that countries provided over $160 billion in ODA in 2020. But ten years on from the global agreement reached in Busan, South Korea to improve the quality of how development cooperation is delivered,  what do we know about how well provider countries and multilateral agencies spend that money?

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