The global financial system is confronting a multitude of challenges, from uncertain growth and widespread debt to climate risks and beyond. Amid these constraints, the International Monetary Fund (IMF) has a vital role to play as the anchor of the Global Financial Safety Net (GFSN). As the Group of 20 (G20) has called for a […]
By Samantha Igo Amid warnings from the Intergovernmental Panel on Climate Change that it is “now or never” for climate action, policymakers meet in Paris this week on June 22-23 for the Summit for a New Global Financing Pact. With the $100 billion climate finance commitment by advanced economies long overdue, and current estimates suggesting […]
Amid warnings from the Intergovernmental Panel on Climate Change that it is “now or never” to make the investments necessary to limit warming to 1.5°C and avoid catastrophic costs, policymakers are in Paris this week to discuss the international financial architecture and how to efficiently mobilize sufficient resources for a green transition. Multilateral development banks […]
As the need for substantive climate action and poverty alleviation becomes more urgent amid global crises, both developing and developed countries cannot fulfill the mechanisms designed to ease these issues. Meeting the United Nations 2030 Sustainable Development Goals (SDGs) and climate action are necessary to ensure green transitions and lift communities out of poverty, but […]
The World Trade Organization’s (WTO) Appellate Body (AB) was established in 1995 to hear appeals on trade disputes between member countries. However, following the end of the final member’s term in 2020, it has been effectively disbanded, and the United States has since blocked all new appointments. The inability of a multilaterally accepted AB to […]
A clean energy transition and achievement of the UN 20230 Sustainable Development Goals (SDGs) in developing countries requires staggering amounts of resources that are currently beyond the capacity of domestic fiscal space available. The international community has found it very challenging to meet the commitments on international resource transfers, whether it is the 0.7 percent […]
By Brook Baker and Rachel Thrasher COVID-19 exploded on a global stage dominated by an international legal and policy regime that instantiates closed science, intellectual property (IP) monopolies and privatized control over the testing, supply, price and distribution of life-saving health technologies. As a result, there were avoidable delays in biopharmaceutical preparedness, ill-adapted technologies that […]
COVID-19 has been met by an international legal and policy regime of closed science, intellectual property monopolies and privatized control over the testing, supply, price and distribution of life-saving health technologies. Despite the remarkable effectiveness of the currently available vaccines, almost one-third of the world remains unvaccinated, allowing the pandemic to continue in many low- […]
By Yaechan Lee The International Monetary Fund (IMF) continues to be the focal institution in the Global Financial Safety Net (GFSN), which refers to a set of institutions and mechanisms that provide insurance against crises and financing to mitigate their impact. Yet, the IMF’s stringent conditionalities that were often perceived to ignore country-specificities, and the […]
The rise of regional financial arrangements (RFAs) over the last two decades has significantly reshaped the Global Financial Security Net (GFSN), which was previously almost the sole purview of the International Monetary Fund (IMF). While the rise in regionally based financial resources has been widely noted, as have the challenges of coordinating IMF and RFA […]