Whether or to what degree climate-vulnerable developing countries have fiscal space is a key question confronting the international public finance community today. A new technical paper by Toby Melissa C. Monsod, Mary Anne Majadillas and Maria Socorro Gochoco-Bautista for the Task Force on Climate, Development and the International Monetary Fund studies the availability of fiscal […]
By Rachel Thrasher The latest report from the UN International Panel on Climate Change has made clear that this decade is make-or-break for climate action and mitigating the worst-case scenarios of a warming earth. Crucial to keeping warming below the 1.5C threshold by 2100, countries must focus on phasing out both demand and supply for […]
If global warming is to be kept below 1.5C, states need to rapidly phase out fossil fuels. But government efforts to limit fossil fuels, such as cancelling pipelines and denying drilling permits, will impact asset holders and demands for compensation will ensue. When assets are protected by international investment treaties, legal claims can be brought […]
By Md. Deen Islam and Rachel Thrasher In November 2021, the United Nations approved Bangladesh to graduate from Least Developed Country (LDC) status by 2026. An LDC graduation reflects a country’s economic strength and resilience to various types of financial and climate shocks and highlights the extent of economic and social progress achieved by the […]
In 2021, the United Nations Committee on Development Policy adopted a resolution that Bangladesh would graduate from least developed country (LDC) status after a period of five years. As a result, Bangladesh will have to forego its exemption to intellectual property (IP) provisions of the World Trade Organization (WTO) by 2026. As an LDC, Bangladesh […]
The Global Financial Safety Net (GFSN) refers to the set of institutions on the global, regional and bilateral level that provide balance of payments finance to countries in temporary financial distress. The GFSN has expanded tremendously in recent years, yet, this increase in resources has been accompanied by deepening structural and geographical inequalities in the […]
By Lara Merling On April 11, the Boston University Global Development Policy Center co-hosted a panel as part of the 2022 International Monetary Fund (IMF) and World Bank Spring Meetings Civil Society Policy Forum. The panel, featuring global experts and advocates, explored the IMF’s proposal to establish a Resilience and Sustainability Trust (RST) as a […]
By Kate Chi On Thursday, April 21, the Boston University Global Development Policy (GDP) Center hosted the third webinar in the Spring 2022 Global Economic Governance Book Talk Series. The talk featured Isabella Weber, Assistant Professor of Economics at the University of Massachusetts, Amherst and author of How China Escaped Shock Therapy: The Market Reform […]
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 […]