By Jiajun Xu and Kevin P. Gallagher According new research by the United Nations, swift and radical transformation towards renewable energy systems is needed to achieve the goal of the Paris Agreement on Climate Change, but there is a wide gap between need and delivery. In a new journal article published in Studies in Comparative International Development, we […]
The Vulnerable Twenty (V20) Group of Finance Ministers, a dedicated initiative of 55 climate vulnerable economies, is at the epicenter of looming debt and climate crises which are threatening their ability to build resilient and low-carbon economies. When scarce public finances are mostly spent on debt service rather than on investments to build a more resilient […]
By Cecilia Springer and Rebecca Ray The pressing need for low-carbon energy transitions globally – and particularly in developing countries, which face significant financial and technical obstacles to energy transition goals– is now a global consensus. As a global network to support investment, finance and trade, with a particular focus on infrastructure development, China’s Belt […]
By 2050, the share of global carbon emissions of Belt and Road Initiative (BRI) participating countries is expected to be as high as 76 percent. Among the 149 countries and 32 international organizations signed on to the BRI, more than half of the countries included carbon neutrality in their planning and proposed specific timelines for […]
After several years of negotiations to “modernize” the Energy Charter Treaty (ECT), members must decide by June 24, 2022, whether to amend provisions of the treaty, leave it as is or withdraw from it entirely. The ECT is the only international investment treaty with a sectoral focus on energy. It has been ratified by 50 […]
The economic shock from the COVID-19 pandemic has set back the development agendas for emerging markets and developing countries. Many developing countries have suffered from severe economic contractions that derailed revenue generation and budget execution and created urgent financing needs. Servicing public debt crowds out fiscal space for investing in a green and equitable recovery […]
By Md. Deen Islam and Rachel Thrasher In November 2021, the United Nations approved Bangladesh to graduate from Least Developed Country (LDC) status by 2026. An LDC graduation reflects a country’s economic strength and resilience to various types of financial and climate shocks and highlights the extent of economic and social progress achieved by the […]
In 2021, the United Nations Committee on Development Policy adopted a resolution that Bangladesh would graduate from least developed country (LDC) status after a period of five years. As a result, Bangladesh will have to forego its exemption to intellectual property (IP) provisions of the World Trade Organization (WTO) by 2026. As an LDC, Bangladesh […]
By Kevin P. Gallagher The last time the world economy became defined by financial instability and recession, inequality and right-wing populism, a lack of global leadership and war, leading countries came together in Bretton Woods, New Hampshire to forge a set of principles and institutions to foster stability and prosperity for a greater peace. Eighty […]
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 […]