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CGD NOTES
June 16, 2023
In this note we assess the potential short-term fiscal impact of these instruments. We look at three major natural disasters over the past two years and assess how much relief each country would have received if DSCs had been included in the totality of their external debt instruments.
CASE STUDIES
June 01, 2023
For the last three decades, Zambia has implemented a series of policies to gradually work towards Universal Health Coverage (UHC). This case study delves into the process followed by the government of Zambia in developing those policies, with the aim of supporting other countries embarking on the jo...
Blog Post
May 08, 2023
Countries moving towards universal health coverage (UHC) face challenging decisions about what benefits they will include and cover—especially in the current fiscal and economic climate. Countries need easy-to-use and comprehensive tools to help them think through the path to expand (or contract) be...
POLICY PAPERS
May 08, 2023
Countries moving towards universal health coverage are challenged about what new health benefits and interventions they will add to their national health programs. We propose a new framework organized in three layers that outlines the features or characteristics to consider when designing and buildi...
Blog Post
April 26, 2023
The COVID-19 pandemic caused a sharp reduction of economic activity in the first months of 2020, which negatively affected the revenues, liquidity, and, potentially, the solvency of many firms. In response to this crisis, the European Central Bank (ECB) announced the Pandemic Emergency Purchase Prog...
WORKING PAPERS
April 26, 2023
This paper finds that shareholders of highly leveraged firms benefit relatively less compared to bondholders from the corporate quantitative easing (QE) announcements by the European Central Bank and the Bank of England in March 2020, as evidence of debt overhang. Firms more heavily impacted by the ...
Blog Post
April 13, 2023
Debt suspension clauses (DSCs) are having their moment in the international policy arena spotlight. Also known as “pause clauses” or climate-resilient debt clauses, DSCs are mechanisms that allow a country to temporarily suspend debt repayments for a pre-agreed period (generally 1-2 years) if a nat...
Blog Post
March 10, 2023
The most recent G20 meeting ended without making any headway on critical global governance crises. Despite Indian Prime Minister Modi’s plea for members “not to allow current tensions to destroy agreements that might be reached on food and energy security, climate change and debt,” differences on th...
Blog Post
February 28, 2023
Sri Lanka's default on its debt in 2022 caused alarm among investors and development economists alike, and raised questions about the factors underlying the country's economic downfall. In this blog, we examine the reasons for Sri Lanka's default and the challenges that lie ahead.