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Blog Post
May 25, 2022
After the IMF’s August 2021 allocation of $650 billion worth of special drawing rights (SDRs), the G20 pledged to recycle $100 billion worth of that allocation from high-income countries to middle- and low-income countries. These recycled SDRs—not needed by advanced economies—would help lower-income...
Blog Post
May 18, 2022
Just as the human body needs blood and a car needs oil, the world’s economy needs US dollars to support global trade and the international financial system. Since the Russian invasion of Ukraine, central banks have been charged with the “simple” task of keeping economies afloat by containing inflati...
Blog Post
May 13, 2022
Ok everyone, it’s clear where your time should go today. After five (loooong) years, during which his music became the soundtrack of one of the most important social movements of the century, Kendrick Lamar’s new album dropped today and you cannot start listening too soon. Within the first 90 second...
Blog Post
May 06, 2022
Local elections are rarely pulse-quickening affairs in the UK; turnout tends to be something akin to county cricket match on a rainy day—that’s two men and a dog, for those who have never partaken of the peculiar pleasures of the English County Championship—but today something a little more exciting...
Blog Post
April 29, 2022
It’s incredible how much there is to catch up on after just two weeks away. We went away over Easter to the wilds of Northumberland, where my son spent hours tramping around the forest, pointing out birds (ornithology clearly runs in the family) and demonstrating the bravery—or bad judgement, if you...
Blog Post
April 25, 2022
In the midst of a crisis, Special Drawing Rights (SDRs) are sitting idle in many countries’ central banks. With a political push and some technical innovation, they can be put to good use at the multilateral development banks (MDBs) to accelerate the fight against climate change.
Blog Post
April 22, 2022
Global debt has reached an unprecedented high, surpassing levels experienced in the infamous 1980s crisis. For debt-burdened countries, the COVID-19 pandemic has severely impacted their repayment capacity due to increased crisis spending. Low-income countries (LICs) are experiencing the brunt of thi...
Blog Post
April 19, 2022
Has the Modi government accelerated or decelerated poverty reduction? It’s hard to know, as India has effectively stopped measuring poverty. A new World Bank paper using private-sector survey data finds the share of people living below $1.90 per day has been falling, but is higher than we thought, a...