By Chiara Mariotti and Richard Kozul-Wright 2025 will be a pivotal year for development and climate cooperation, with financial matters coming to the fore at a range of key policy events, from the upcoming Finance in Common Summit taking place at the end of February in Cape Town to the 30th United Nations Climate Change […]
International financing for development has persistently fallen short of developing country needs. That gap has widened dramatically with the onset of the climate crisis, where the costs of climate inaction far outweigh the financing needed in developing countries to catalyze low-carbon, socially inclusive and resilient growth trajectories and adapt to climate-related shocks that are already […]
The African continent faces a multifaceted challenge regarding its energy policy. To bolster economic industrialization and improve livelihoods, leaders seek energy solutions with low carbon emissions while endeavoring to bring electricity to an estimated 600 million people who lack access. Emerging as a pivotal capital provider for global energy finance, China has committed $49 billion […]
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 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 […]
By Justin Yifu Lin, Yan Wang and Yinyin Xu The Bretton Woods system, established 80 years ago in July 1944, is in need of an update. Even though numerous countries in the Global South have demanded reforms to make the system fit-for-purpose in the 21st century, progress has so far been slow. A case in […]
By Jiaqi Lu The exchange of knowledge, technology and resources among developing countries through South-South cooperation has been crucial in driving green development forward. Over the past two decades, China has emerged as a key player in South-South cooperation through its development initiatives, including development finance and recent support for renewable energy. A new special […]
“Dear International Monetary Fund Board of Directors, This Friday October 11, 2024, the International Monetary Fund (IMF) is expected to announce reforms to its policy on charges and especially surcharges, which levies extra fees on countries whose debts have surpassed certain size and time thresholds. We the undersigned urge the IMF to meaningfully reform its policies, […]
By Maureen Heydt The Boston University Global Development Policy Center (GDP Center) is a policy-oriented research center working to advance financial stability, human well-being and environmental sustainability across the globe through rigorous interdisciplinary research, policy engagement and strategic communications. There are two aspects that make the GDP Center unique among development-oriented centers across other academic […]
By Akanksha Goyal and Angie Ye The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) will be held in Beijing from September 4-6, 2024, with African leaders and members of FOCAC scheduled to attend. Since the inception of the FOCAC in 2000 and the China-Africa Development Fund in 2006, China’s economic ties with Africa […]