By Tim Hirschel-Burns On Tuesday, December 12th, the Boston University Global Development Policy Center (GDP Center) hosted a webinar titled, “A Crisis of Confidence? Reestablishing the Legitimacy of the International Monetary Fund and the Global Financial Safety Net.” The discussion covered quota reform at the International Monetary Fund (IMF), the newly updated Global Financial Safety […]
By Sayuri Kataoka and Samantha Igo The International Monetary Fund (IMF) is scheduled to conclude its 16th General Review of Quotas this month, a process designed to bring the IMF’s governance system in light with current realities of the global economy. The IMF’s quota system determines the financial contribution of member countries, the distribution of […]
By Tim Hirschel-Burns After several years characterized by a pandemic, multiple wars and mounting climate impacts that jolted the global order, 2023 was the year when calls for international financial architecture reform went mainstream. The World Bank entered evolution mode, the United Nations (UN) Secretary General called for “a new Bretton Woods moment,” and the […]
By Laurissa Mühlich, Barbara Fritz and William N. Kring Reform of the international financial architecture has become a pivotal issue, particularly for emerging market and developing economies (EMDEs) facing pressures from all sides: high interest rates, an increasing cost of capital, growing sovereign debt burdens, rising geopolitical tensions and climate shocks. The Global Financial Safety […]
By Tim Hirschel-Burns With the 28th United Nations Climate Change Conference (COP28) in Dubai underway, countries are yet to resolve major questions on closing the gap on both climate finance and ambition. Most notably, last year’s key decision to establish a loss and damage fund, has long been mired in debate. Although the fund has now […]
Por Samantha Igo En tan solo 24 horas a finales de octubre, el huracán Otis, desafiando los modelos de predicción, aumentó la velocidad del viento a 185 km/h, tocando tierra en Acapulco, México, como un huracán de categoría 5. Además de la devastadora pérdida de vidas, los analistas de seguros han estimado que las pérdidas […]
By Mridhu Khanna On November 9, 2023, the Boston University Global Development Policy Center (GDP Center) hosted Eric Helleiner, Professor of Political Science at the University of Waterloo, for the final installment of the Fall 2023 Global Economic Governance Initiative Book Talk Series. Helleiner spoke to the Boston University community about his latest book, The […]
By Tim Hirschel-Burns On December 1, 2023, Brazil took over the presidency of the Group of 20 (G20) from India (the recent addition of the African Union as a permanent member means the forum has 21 members, but for now it’s still being called the G20). Brazil’s presidency—its first time heading the organization—will include over […]
The Global Financial Safety Net (GFSN) has been dramatically reshaped since 2000. While the International Monetary Fund (IMF) is still the world’s largest and most capable provider of emergency liquidity, as well as the only one that operates at a global level, it is now flanked by multiple regional financial arrangements (RFAs) whose combined lending […]
By Rishikesh Ram Bhandary As delegates gather in Dubai for the 28th United Nations Climate Change Conference (COP28), climate finance is expected to dominate the agenda. While the $100 billion goal is likely to be met this year (though, at least two years behind schedule), climate finance needs remain tremendous. Estimates show that emerging markets […]