Climate vulnerable countries, such as those in Latin America and the Caribbean, are currently locked in a cycle of debt and climate: extreme weather events are driving up debt burdens, shrinking already-limited fiscal space and leading to higher costs of capital. Governments are left unable to adequately invest in adaptation measures or meet nationally determined […]
By Samantha Igo Within 24 hours in late October, Hurricane Otis, in defiance of forecasting models, increased windspeed by 115 mph and made landfall in Acapulco, Mexico as a Category 5 hurricane. In addition to the devastating loss of life, insurance analysts have estimated “insurable” losses in Acapulco and the surrounding area to be as […]
By Nabil Haque On Wednesday October 4, 2023, the Boston University Global Development Policy (GDP) Center hosted a webinar discussion ahead of the 2023 International Monetary Fund/World Bank Group Annual Meetings on reforming and strengthening multilateral development banks (MDBs) to meet shared climate and development goals. The webinar was moderated by Kevin P. Gallagher, Director […]
Editor’s Note: Below is an excerpt of input submitted by Kyla Tienhaara, Rachel Thrasher and Kevin P. Gallagher to the Office of the High Commissioner of Human Rights (OHCHR) at the United Nations in June 2023 to inform the OHCHR’s report on “Investor-State Dispute Settlement (ISDS) mechanisms and the right to a clean, healthy and […]
By Rishikesh Ram Bhandary This is a critical policy moment just weeks ahead of the 28th United Nations Climate Change Conference (COP28) in Dubai where the first-ever assessment of how countries are meeting their climate pledges under the Paris Agreement – the Global Stocktake (GST) – will conclude. This review process will provide countries vital […]
In December 2023, the International Monetary Fund (IMF) is scheduled to conclude its 16th General Review of Quotas, a process required by the IMF’s Articles of Agreement. The IMF’s quota system is vital because it determines the financial contribution of member countries, the distribution of voting power at the Fund and access to financing mechanisms […]
Climate-induced loss and damage can affect the macroeconomic health and general well-being of climate vulnerable economies, rolling back decades of development gains. For members of the Vulnerable 20 Group of Finance Ministers (V20) alone, climate-induced losses amounted to 20 percent of their gross domestic product (GDP) over the last two decades. The United Nations Framework […]
By Marina Zucker-Marques With the worsening debt situation in developing countries, the ongoing debt relief negotiations within the Group of 20 (G20) Common Framework have been disappointing. Among many issues delaying debt negotiations (like domestic debt restructuring, sharing information on debt sustainability analysis and debt carrying capacity), the question of whether multilateral development banks (MDBs) […]
As the sovereign debt crisis in the Global South continues to unfold, the lack of involvement of multilateral development banks (MDBs) in debt relief efforts has become a contentious issue among major creditors. Although the Group of 20 (G20) has explicitly called for MDBs to develop options to share the burden of debt relief efforts, […]
Applications are closed for the 2026/2027 Global Economic Governance Fellows Program. The Global Economic Governance Initiative (GEGI) was founded in 2008 to advance policy-oriented research on international financial, trade, and development institutions created in the aftermath of World War II that continue to play a leading role in global economic governance. Within GEGI, research is conducted […]