By Ying Qian and Yan Wang Zhou Chengjun, Director of the Financial Research Institute of the People’s Bank of China, delivered a speech entitled “Building the Shanghai Model of Sovereign Debt Restructuring” at the fourth China International Finance 30 Forum held in Shanghai on May 29-30, 2021. His discussion centered on ideas for sovereign debt […]
By Samantha Igo As the Group of Twenty (G20) meet in Rome from October 30-31, the triple crisis of climate, COVID-19 and ballooning sovereign debt demands bold intervention. Countries are reeling from the economic and social costs following a summer of extreme weather events, with only 2.9 percent of people in low-income countries having received […]
By Bridgette Lang On Wednesday, September 22nd, Ying Qian, former advisor to the Asian Development Bank, joined the Fall 2021 Global China Research Colloquium for a discussion on Brady bonds and the potential for debt restructuring in the post-pandemic era. Discussing the findings of his recent working paper, Qian explained why Brady-bond-like instruments have the […]
By Maureen Heydt From October 11-15, 2021, China will host the first phase of the 15th Convention on Biological Diversity, Conference of the Parties (CBD COP15), a major global summit on biodiversity. Signed by 150 government leaders and entered into force on December 29, 1993, the Convention on Biological Diversity is dedicated to promoting sustainable […]
The COVID-19 pandemic has led to unprecedented global economic and human crisis, with many developing countries facing serious challenges in continuing to service ballooning levels of sovereign debt. Half of all low-income countries are either already in debt distress or at high risk. Against this backdrop, creditors and the international community have been contemplating various […]
By: Paula Torrez-Ortiz The Global Economic Governance Initiative (GEGI) within the Boston University Global Development Policy Center works to advance policy-relevant research on international financial, trade and development institutions that play a leading role in global economic governance. As part of this work, the GEGI research team has released four interactive research projects that serve […]
A debt crisis is looming in the Global South, compounded by the threat of climate change. World leaders such as Kristalina Georgieva, David Malpass, the Biden administration and 23 former Finance Ministers and Central Bank Governors have added their voices to a growing chorus calling for comprehensive debt relief linked to a green and inclusive […]
By Yaechan Lee The COVID-19 pandemic has increased fiscal pressure on a global scale. Advanced economies, have been able to cope with the new norm thanks to their relatively larger fiscal and policy space and are now anticipating a robust V-shaped economic recovery. Low-income countries (LICs) have been considered most financially vulnerable against this pressure […]
By Xinyue Ma As countries strive to recover from the COVID-19 pandemic, the world is in urgent need of liquidity to fill the investment gap in development areas such as public health, climate change, and inequality. In the midst of this, economic risks around the world are straining the so-called Global Financial Safety Net (GFSN), […]
By James Sundquist Are China’s loans to developing countries merely investments in power plants and highways, or do they serve another purpose of bailing out countries in crisis? If so, is China undermining the International Monetary Fund (IMF)? Despite much heated debate over the consequences of Chinese lending, this basic question has remained unanswered. On […]