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 Katie Gallogly-Swan On Wednesday, March 23, the Boston University Global Development Policy Center, the Boston University Institute for Economic Development and the Boston University Department of Economics hosted the third Paul Streeten Distinguished Lecture in Global Development Policy. The 2022 Distinguished Speaker was Dani Rodrik, renowned economist and Ford Foundation Professor of International Political Economy at the […]
By Rachel Thrasher Following a 17-month impasse, India, South Africa, the United States and the European Union have, as of March 15, 2022, negotiated a preliminary text for the much-anticipated waiver on Trade-Related Aspects of Intellectual Property Rights (TRIPS waiver) for COVID-19 vaccines. India and South Africa originally proposed a comprehensive TRIPS waiver to the […]
At the United Nations Climate Change Conference in Glasgow, India’s Prime Minister Narendra Modi announced India will meet a target of net-zero emissions by 2070. Now, over the next few decades, India faces a significant energy transition, as fossil fuels account for a significant share of Indian government revenues. Currently, the Indian government, both the […]
By Yaechan Lee On Thursday, March 17, 2022, the Boston University Global Development Policy Center hosted Professor Jeff Colgan, Associate Professor of Political Science at Brown University and Director of the Climate Solutions Lab at the Watson Institute of Public and International Affairs, to discuss his new book, ‘Partial Hegemony: Oil Politics and International Order’, […]
In 2021, three imbalances laden with consequences have become apparent: COVID-19 vaccines have remained concentrated in advanced economies, the recovery has exacerbated many inequalities and the climate crisis has not been met with a global plan, leaving most developing countries on the frontline of a battle they cannot win. South Africa epitomizes this triple crisis. […]
As the world comes to grips with the devastating economic and public health consequences of COVID-19, Southern-led alternative institutions for finance and development have taken on more importance than ever. The new book, “South-South Regional Financial Arrangements: Collaboration Towards Resilience,” from William N. Kring and Kevin P. Gallagher, in partnership with Diana Barrowclough and Richard […]
The COVID-19 pandemic has induced new financial strains for emerging market economies (EMEs) and low-income developing countries (LDCs). As a remedy to these strains, the International Monetary Fund (IMF) allocated $650 billion in Special Drawing Rights (SDRs) in August 2021. Since then, recent IMF communications give evidence of the ongoing attempt to revamp SDRs into […]