Gallagher Comments on Negative Impact of IMF Bailout Delays
Professor Gallagher discusses the negative impact of IMF delays, how it can impact their ability to secure additional funding sources, as well as the emergence of China as an emerging market lender
Gallagher Coauthors Op-Ed on EU Climate Action and Globally Just Climate Transition
“A globally just climate transition must ensure that one community’s climate gains do not translate into development losses for the countries that did little to contribute to the climate crisis in the 1st place.”
Najam Interviewed on IMF Inefficiencies
Professor Najam suggests that given the IMF’s central mission of maintaining and enhancing global monetary and financial stability, the fact that between 20 to 30 countries are on the verge of sovereign default today is an indictment of the IMF’s own competence, even if the primary fault lies with the countries themselves.
Gallagher Comments on State of Globalization and Global Economics
“You know how stock markets have bubbles? And then there’s a correction. I think there’s been a globalization bubble, and we’re trying to correct it.”
Gallagher Notes “Crisis of Multilateralism” In Global Economic System
“The crisis of multilateralism has hit its worst point…This is not a time for incremental change. We need to seize this moment or it’s only going to get worse.”
Gallagher & Merling Argue for Issuance of Additional IMF SDRs
“Instead of making policymakers in poor countries feel that the U.S. has forgotten them, the U.S. can take the lead and pave the way for a new SDR allocation that ensures these countries quickly receive $210 billion worth of support.”
Gallagher Argues for Global Financial Support of Green Economic Recoveries
As stated in his latest book, Professor Gallagher calls on the IMF and World Bank to abandon austerity requirements and cooperate with other development banks to boost worldwide financing for just green transitions to the tune of hundreds of billions of dollars.
Gallagher and Ocampo Argue for Increased IMF Regulation of Global Capital Flows
The IMF’s institutional review of capital account regulation went one step forward in recognizing that regulating inflows can play a prudential role; however, these steps forward are still out of step with current thinking and reality.
Gallagher Argues for Reforms to IMF Capital-Flow Regulation
As the IMF board meets this month, Professor Gallagher argues that they should press for four reforms to the Fund’s capital-account policy to help member states mitigate financial instability.
Gallagher and Kozul-Wright Argue for Global Economic Reform
Professor Gallagher outlines the dire state of the global economic system and calls for action to reform it in order to facilitate an equitable recovery from COVID-19 and achieve complementary development goals.
Gallagher & Stiglitz Argue for Suspension of IMF Surcharges
IMF surcharges “worsen potential outcomes for both the borrowing country and its investors, with gains accruing to the IMF at the expense of both.”
Heine Quoted on Chinese Influence in Argentina and Latin America At Large
Argentine President Alberto Fernández’s visit to China raises a number of concerns in the U.S., and as Ambassador Heine points out, it will likely impact the country’s ongoing debt negotiations with the IMF.
Gallagher Co-Authors Policy Brief on Consequences of IMF Surcharges
“The IMF should suspend these surcharges immediately to give member states this breathing space, and to give the IMF the incentive to rethink its business model.”
GDP Center Joins Task Force on Climate, Development, and the IMF
Over the next 18 months, the Task Force will engage in and utilizes rigorous, empirical research to advance IMF policies that align international financial stability and growth with global climate goals
Gallagher Co-Authors Op-Ed on IMF Special Drawing Rights
Co-authors Gallagher and Bradlow argue that the international community should use this historic influx of IMF Special Drawing Rights to establish an innovative strategy for recycling assets to lower and middle-income countries.
Gallagher Co-Authors Op-Ed on IMF Special Drawing Rights
“There are numerous ways that advanced economies and China can deploy unused SDRs to enable developing
countries to tackle [COVID-19], protect the vulnerable, and mount a green and inclusive recovery in the developing world.”
Gallagher Publishes Op-Ed on Need for IMF Climate Leadership
“If the IMF doesn’t act now the consequences for prosperity and the planet will be grave.”
GDP Publishes Policy Brief on the Need for IMF Climate Strategy
The IMF has so far paid minimal and uneven attention to climate risks. If the IMF does not incorporate climate risks now, it won’t be able to change course for another 7-10 years.
Gallagher Publishes Op-Ed on IMF Surcharges
“The IMF should suspend these surcharges to help countries recover from the virus, and to give the IMF the incentive to rethink its broken business model.”
Gallagher Publishes Op-Ed on Global Financial Safety Net
“The global financial safety net will require further expansion in order to mitigate the effects of and facilitate the recovery from this crisis.”