By Tim Hirschel-Burns and Rishikesh Ram Bhandary A $4 trillion financing gap to achieve the United Nations Sustainable Development Goals (SDGs), 85 percent of which are off track. A need to rapidly scale up climate action and energy access. Weak global growth. Instability-fueled migration. A reversal in a decades-long trend of reducing global poverty. The […]
By Praveena Bandara On November 7, 2024, the Boston University Global Development Policy Center (GDP Center) hosted Marina Zucker-Marques, Senior Academic Researcher at the GDP Center, and Juan Pablo Bohoslavsky, Researcher at the National Scientific and Technical Research Council of Argentina (CONICET), to discuss their new book, “Feminism in Public Debt: A Human Rights Approach,” as part of […]
By Kamal Malhotra The United Nations (UN) is arguably the world’s most enduring and all-encompassing “global public good.” In fact, the recent UN Summit for the Future, where 193 UN Member States co-signed a Pact for the Future, reaffirmed that the UN’s original mandates of peace and security, sustainable development and human rights remain relevant […]
By Marina Zucker-Marques In the evolving landscape of international finance, the internationalization of China’s currency, the renminbi, has become a focal point of discussion. While this doesn’t suggest that the renminbi is on track to replace the US dollar, its growing influence on the international stage does represent China’s strategy to reduce its dependence on […]
What role do central banks play in designing cross-border payment infrastructure as part of a broader agenda of currency internationalization? In a new journal article published in Research in International Business and Finance, Marina Zucker-Marques focuses on China’s experience from 2008 to 2023 to trace the evolution of the renminbi’s cross-border payment network, contrasting these […]
By Tim Hirschel-Burns The 29th United Nations Climate Change Conference (COP29), taking place from November 11-29, 2024 in Baku, Azerbaijan, has been dubbed the “Finance COP” and is expected to deliver a new climate finance goal, known in COP jargon as the New Collective Quantified Goal (NCQG). This NCQG will succeed the climate finance goal […]
The International Monetary Fund (IMF) holds 90.5 million ounces of gold on its balance sheet, a legacy from its founding in 1944, when member countries paid their quotas in gold. This idle gold is sitting on the IMF’s balance sheet at a historical cost of $45 per ounce, compared to $2,600 per ounce on global […]
By Samantha Igo On Tuesday, October 22, 2024, the Boston University Global Development Policy Center and Global Economy and Development at the Brookings Institution co-hosted a high-level panel alongside the 2024 International Monetary Fund (IMF)/World Bank Group Annual Meetings in Washington, D.C. on Global South perspectives for international financial architecture reform. The event featured a […]
By Praveena Bandara With Chinese electric vehicle (EV) manufacturing giants like Jetour announcing plans to establish EV assembly plants in Mexico by the end of 2024, it is a critical time for Mexico to revisit its past success with the automotive industry. This can inform future decisions and help develop mutually beneficial strategies with respect […]
Since the early 1990s, Mexico has been on a path of increasing export re-specialization, the sequential shift in a country’s exporting pattern from diversification to specialization in more technology and capital-intensive products. This is an unexpected phenomenon, as export re-specialization is typically experienced by advanced economies. In a new working paper, Praveena Bandara examines why […]