Since its founding, the International Monetary Fund (IMF) has in theory sought to act as the international “lender of last resort,” providing financing to countries facing balance-of-payments and macrofinancial pressures. However, in the 21st century, the landscape of international rescue lending has shifted. China has become the world’s largest bilateral lender, providing assistance comparable to […]
By Tim Hirschel-Burns and Marina Zucker-Marques Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance, and they are overdue for reform. Quotas are the primary funding source to support the IMF’s lending and operations, and they determine the amount countries can borrow from the IMF, their share of Special Drawing […]
Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance. Beyond serving as the IMF’s primary funding source to support IMF lending and operations, quotas shape members’ access to financing, allocation of Special Drawing Rights (SDRs) and voting power. This year, the IMF stands at a crossroads as it is set to […]
By Cornel Ban and Xuan Li In most Western economies, venture capital (VC) is largely a private enterprise, driven by the pursuit of profit. The state typically plays a secondary role, stepping in only when private capital is hesitant. Government VC firms fill this gap, providing risk capital to innovative startups and fueling Mazzucato-style “missions.” […]
Driven by geopolitics and the threat of climate change, industrial policy has reclaimed center stage in the comparative political economy of national economies, irrespective of their level of per capita income. However, this turn has been criticized for primarily enticing private capital into serving public agendas in ways that reduce the state to a “derisking” […]
By Yan Wang and Zheng Zhai Over the past two decades, China has become the largest bilateral provider of development finance. At the 2024 Forum on China-Africa Cooperation (FOCAC), China reaffirmed its commitment to further opening its vast financial market to African nations, encouraging them to issue panda bonds. Alongside this, it pledged $51 billion […]
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 Tianyi Wu African leaders face significant challenges in energy policy as they strive to implement low-carbon energy solutions while expanding electricity access to around 600 million people—43 percent of the total population of Africa. In this context, lending from Chinese policy banks has played a pivotal role in expanding energy capacity and facilitating sustainable […]
By Thang Ha On November 14, 2024, the Boston University Global Development Policy (GDP) Center hosted a webinar on the latest data and trends in China’s overseas energy finance, based on the new update to China Global Energy Finance (CGEF) Database. The webinar was moderated by Rebecca Ray, Senior Academic Researcher with the Global China Initiative […]
Emerging market and developed countries must meet their shared climate and development goals to avoid the catastrophic costs of inaction. Yet, the International Monetary Fund (IMF) estimates that 26 low-income countries are in debt distress or default, and new academic research estimates say this number will double if countries mobilize the level of investment needed […]