In 2020, the Chinese Loans to Africa (CLA) Database, managed by the Boston University Global Development Policy Center, recorded 11 new loan commitments worth $1.9 billion from Chinese lenders to African government borrowers. This low amount, not seen since the mid-2000s, is down 77 percent from 2019 volumes, when Chinese lenders signed 32 loan agreements […]
By Rishikesh Ram Bhandary On Thursday, April 14, the Boston University Global Development Policy Center hosted a webinar discussion on how the International Monetary Fund (IMF) can help mitigate climate risks. The discussion featured members of the Task Force on Climate, Development and the IMF, a consortium of experts from around the world utilizing rigorous, […]
By Kevin P. Gallagher The last time the world economy became defined by financial instability and recession, inequality and right-wing populism, a lack of global leadership and war, leading countries came together in Bretton Woods, New Hampshire to forge a set of principles and institutions to foster stability and prosperity for a greater peace. Eighty […]
A debt crisis is looming in the Global South. High levels of public debt service and insufficient fiscal and monetary space are threatening recoveries and impeding much-needed investments in climate resilience and the 2030 UN Sustainable Development Goals. A new policy brief from the Think7 (T7) Task Force on Sustainable Economic Recovery makes seven recommendations […]
By William N. Kring Amidst the backdrop of an enduring pandemic, rising inflation, growing external debt and Russia’s war in Ukraine, finance ministers and central bankers convene in Washington, D.C. this week for the 2022 Spring Meetings of the International Monetary Fund (IMF) and the World Bank. These meetings could not come at a more […]
While the International Monetary Fund (IMF) has long signaled an interest in contributing to combat climate change, 2021 marked a critical juncture in the IMF’s commitment to the cause. Under the leadership of Managing Director Kristalina Georgieva, the IMF accelerated the mainstreaming of climate change in its operations. Most notably, Georgieva made a concerted effort […]
By Amanda Brown The International Monetary Fund (IMF) Executive Board meets today to consider the final design of the proposed Resilience and Sustainability Trust (RST). Designed to re-channel some of the $650 billion in Special Drawing Rights allocated last August, the RST has the potential to address a glaring gap in the international finance architecture […]
By Cecilia Han Springer On Wednesday, March 16, Ian Kieffer, Global China Fellow with the Boston University Global Development Policy (GDP) Center and Ian Sue Wing, Professor with the Department of Earth and Environment at Boston University, joined the Global China Research Colloquium to present initial results from their study on the potential impacts of […]
Prior to the pandemic, Africa had begun to experience a slowdown in economic growth, and COVID-19 has only worsened these adverse trends. What is more, the pandemic also struck at a time when Africa was making slow and uneven progress towards achieving the 2030 United Nations Sustainable Development Goals (SDGs), with the continent already under […]
Rising emissions must end before 2025 if the world is to stay below the 1.5°C threshold of global warming. Rapid, transformative green transitions will require an unprecedented mobilization of resources and investment, particularly for countries that rely on fossil fuels as a major source of revenue. Net-zero transitions, without global support and coordination, could threaten […]