The global community’s efforts on climate change have yet to demonstrate the urgent need for immediate action. However, there is now a growing convergence that increasing levels of sovereign debt are inhibiting bold and necessary action on climate and development. The Vulnerable Group of 20 (V20) Ministers of Finance, comprising 68 climate vulnerable economies, are […]
By Marina Zucker-Marques Investing in development and climate while maintaining economic and financial stability is a balance that emerging market and developing economies (EMDEs) need to strike in order to meet the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. EMDEs (excluding China) need a major investment push to achieve the 2030 […]
Time is running out to achieve the goals set out in the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. Not meeting these goals will have tragic impacts on the lives of present and future generations; yet, emerging market and developing economies (EMDEs) are facing conditions that inhibit their ability to mobilize […]
By Tim Hirschel-Burns From April 15-19, policymakers, civil society, researchers and more will gather in Washington, D.C. for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. These official, high-level meetings will set the direction for the institutions, amid a plethora of panels and side events, as well as related meetings like the G20 […]
By Rebecca Ray Emerging market and developing economies (EMDEs) need an immediate, stepwise infusion of investment for climate and conservation goals: $1 trillion in international capital for climate investment and over $2 trillion annually to meet the United Nations 2030 Sustainable Development Goals (SDGs), according to the International High Level Expert Group on Climate Finance. […]
By Claire Paul From November 28-December 12, the 2023 United Nations Climate Change Conference (COP28) will be held in Dubai, United Arab Emirates. The conference comes at a “milestone moment,” as participating representatives will assess their country’s progress in adhering to the goals set out by the Paris Agreement and conclude the first-ever Global Stocktake. […]
By Nabil Haque On Wednesday October 4, 2023, the Boston University Global Development Policy (GDP) Center hosted a webinar discussion ahead of the 2023 International Monetary Fund/World Bank Group Annual Meetings on reforming and strengthening multilateral development banks (MDBs) to meet shared climate and development goals. The webinar was moderated by Kevin P. Gallagher, Director […]
By Marina Zucker-Marques With the worsening debt situation in developing countries, the ongoing debt relief negotiations within the Group of 20 (G20) Common Framework have been disappointing. Among many issues delaying debt negotiations (like domestic debt restructuring, sharing information on debt sustainability analysis and debt carrying capacity), the question of whether multilateral development banks (MDBs) […]
As the sovereign debt crisis in the Global South continues to unfold, the lack of involvement of multilateral development banks (MDBs) in debt relief efforts has become a contentious issue among major creditors. Although the Group of 20 (G20) has explicitly called for MDBs to develop options to share the burden of debt relief efforts, […]
Due to multiple external shocks since the outbreak of the COVID-19 pandemic, sub-Saharan Africa (SSA) is facing acute debt distress and new highs in the cost of foreign capital. Concomitantly, the region needs to mobilize a stepwise level of financing to meet shared climate and development goals, under the Paris Agreement climate targets and the […]