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IMF Support for COVID-19 Recovery
More from the Series
The Resilience and Sustainability Trust: Early Learning and Challenges from Costa Rica and Rwanda
July 25, 2023
Demand for the IMF's Resilience and Sustainability Trust (RST) is strong, and the RST is becoming the IMF’s de facto climate finance facility. At the same time, the RST faces a number of challenges, including being far too small to confront climate resilience. Early lessons from RST pilots in Costa...
Now Is NOT the Time to Increase Funding to the IMF’s RST
July 06, 2023
The IMF’s new Resilience and Sustainability Trust (RST) has gotten a lot of support from donors wanting to recycle their IMF special drawing rights (SDRs). As of June 8, total pledges for the RST amount to $40.6 billion, falling $3 billion short of the initial fundraising target. With few recycling ...
A Quick and Easy Way to Subsidize the PRGT
June 16, 2023
The International Monetary Fund (IMF) needs more subsidy resources to continue its concessional lending to low-income countries (LICs) at current levels. Following the example set by the United Kingdom, lenders to the IMF's Poverty Reduction and Growth Trust (PRGT) can build subsidy resources into t...
Running on Empty: Why the PRGT’s Subsidy Resources Need to be Replenished Soon
June 02, 2023
Current resources for the IMF's PRGT are not sufficient to support continued high demand. The problem is the lack of subsidy resources, which has worsened markedly in the current environment. Donors will have to step up or PRGT lending will be curtailed. If donors don’t step up with new commitments ...
Declaring a Hollow Victory on SDRs Would Further Undermine G20 Credibility
May 23, 2023
In November 2021, the G20 pledged to recycle $100 billion of Special Drawing Rights (SDRs) from advanced economies to more vulnerable countries. While these countries jumped on the moment to offer public promises, they've been slower to deliver on those financial commitments. But it is likely that a...
What We Saw at the 2023 Spring Meetings
April 20, 2023
Last week, leaders from around the world gathered in Washington, DC to discuss the global economic situation, a looming debt crisis, and the future of the international financial institutions. Here are some of CGD experts' takeaways on the highs and lows.
A Growing Financial Hole Risks Sinking the PRGT
March 10, 2023
In a recent piece with my colleague Mark Plant, I highlighted the financial pressures facing the IMF’s Poverty Reduction and Growth Trust (PRGT). The surge in PRGT lending during the pandemic and the continued high level of lending since then provided essential support to low-income countries (LICs)...