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Blog Post
March 27, 2024
After an almost two-year lull, sub-Saharan African issuers are clawing their way back into international markets. In close succession, Côte d’Ivoire, Benin, and Kenya issued $4.85 billion worth of Eurobonds in the first quarter of 2024. The bond offerings were as much as six times oversubscribed, in...
Blog Post
March 26, 2024
There was a very disappointing development at the IMF Executive Board earlier this month—the postponement of a formal decision on whether special drawing rights (SDRs) could be recycled to the hybrid capital scheme proposed by two multilateral development banks (MDBs), the African Development Bank (...
Blog Post
March 18, 2024
Against the odds, a plucky little IMF engine—the Resilience and Sustainability Trust, or RST—has won plaudits for its efforts to support countries formulating policies to tackle climate change. It has taken up the challenge with only $30 billion as firepower, against the trillions needed from all ...
POLICY PAPERS
March 18, 2024
The IMF’s Resilience and Sustainability Trust (RST) has been operational for over a year, with the first seventeen countries receiving commitments of financial support. But if lending from the RST is to achieve its objectives, the IMF should make it fitter for purpose by taking a radically different...
CGD NOTES
March 15, 2024
The November guidance on RSF seems to have addressed some of the shortcomings observed in the initial RSF programs. However, as we highlight in this note, other deficiencies remain unresolved and require attention from the IMF’s Executive Board during the upcoming RSF review.
CGD NOTES
March 11, 2024
Pakistan’s recent economic history shows why it has been so difficult to service the external debt and why this will continue to be a challenge in the future. First, external debt has not been used to expand public investment for many years now; instead, it has largely supported government consumpti...
WORKING PAPERS
January 17, 2024
The IMF is filling a critical gap in its mandate by mainstreaming gender into its work. Closing gender gaps is macro-critical because they go hand-in-hand with higher economic growth, greater financial stability, and lower income inequality. Applying a gender lens to macroeconomic, financial, and st...
Blog Post
January 17, 2024
Two facts on gender gaps stand out. First, given current trends and policies, gender equality is not likely to be achieved. Second, gender equality is macrocritical. In other words, narrowing gender disparities leads to better macroeconomic outcomes—higher economic growth, greater financial stabilit...
Blog Post
December 18, 2023
The Lancet Investing in Health Commission, led by Larry Summers and Dean Jamison in 2013, envisioned a grand convergence in key health indicators by 2035 between low-income and low-middle-income countries and the best-performing middle-income countries. Given significant global changes since the rep...