Ideas to Action:

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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.

Humanitarian Financing Is Failing the COVID-19 Frontlines

Longstanding weaknesses in the humanitarian business model are undermining the COVID-19 response in fragile and conflict affected states. Extensive delays, poor mechanisms for tracking disbursement of funds from intermediaries to implementers, and persistent obstacles to financing local actors are preventing funds from reaching organizations on the frontlines of the COVID-19 fight. Donor governments have generously contributed nearly $2.5bn in humanitarian COVID-19 financing.

An image of the COVID-19 virus

As Global Health Players Pivot To COVID-19 Responses, We Need Coordinated, Real-Time, Formative Evaluations

An estimated $15.9 trillion has been mobilised to respond to the health and economic impact of the COVID-19 pandemic. Some of this has gone to multilateral and bilateral funders to support low- and middle-income countries’ (LMIC) governments. But how is this money being spent, and how is it impacting country budgets and expenditure more broadly?

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.

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