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Blog Post
October 30, 2023
In August 2021, as the world continued to grapple with the far-reaching effects of the ongoing global pandemic, the International Monetary Fund (IMF) took a significant step to help. Recognizing the unprecedented challenges faced by nations, the IMF issued an allocation of US$ 650 billion worth of S...
Blog Post
October 24, 2023
Widespread climate shocks, from heatwaves and droughts to hurricanes and coastal flooding, affect nations across all income levels, with profound implications for economic growth and human welfare. With the continued rise in average temperatures and prospects of even more severe events going forward...
WORKING PAPERS
October 24, 2023
Climate change is a systemic risk to the global economy. While there is a large body of literature documenting the potential economic consequences of climate change, there is relatively little research on the link between vulnerabilities to climate change, the buildup of climate debt by countries wi...
Blog Post
August 23, 2023
Nearly two years have passed since the G20 committed to recycling $100 billion of Special Drawing Rights (SDRs) from advanced economies to support more vulnerable countries. The most recent allocation of SDRs, the international reserve asset issued by the International Monetary Fund (IMF), was inten...
Blog Post
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 ...
Blog Post
June 19, 2023
When Boris Johnson announced the creation of the Foreign, Commonwealth and Development Office in September 2020, he signaled the dissolution of the Department for International Development (DFID) after nearly 25 years. In a new series, to be published over the next 18 months, we will look at the wa...
BRIEFS
June 08, 2023
To meet many of today’s most pressing challenges, we need to find new solutions. But the fastest, cheapest, and most effective way to encourage high-impact innovation isn’t always obvious. Governments, philanthropists, and the private sector typically invest in research and development (R&D) by bett...
Blog Post
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 ...
Blog Post
March 20, 2023
The UK's Energy Price Guarantee increased CO2 emissions by 3.2 million tonnes over the period October 2022-April 2023—double the achievements of UK climate mitigation aid over the same period, which we estimate at a reduction of just 1.6 million tonnes of CO2, demonstrating that when it is expedient...
Blog Post
February 28, 2023
Sri Lanka's default on its debt in 2022 caused alarm among investors and development economists alike, and raised questions about the factors underlying the country's economic downfall. In this blog, we examine the reasons for Sri Lanka's default and the challenges that lie ahead.