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Blog Post
August 02, 2023
The future of such spending in countries currently experiencing or at high risk of debt distress is particularly troubling. A country is in debt distress when its ability to service domestic and external debt is impaired. This blog post delves into these issues based on more recent health spending a...
POLICY PAPERS
July 25, 2023
Demand for the IMF's Resilience and Sustainability Trust (RST) is strong, and the RST is becoming the IMF’s de facto climate finance facility. At the same time, the RST faces a number of challenges, including being far too small to confront climate resilience. Early lessons from RST pilots in Costa...
Blog Post
July 11, 2023
There is no substitute for an effective teacher. Great teachers make an enormous difference in their students’ learning outcome s: in Ecuador, teachers who had higher quality interactions with their kindergartners improved their language and math skills. Just as importantly, great teachers help stud...
CGD NOTES
June 07, 2023
The Committee identifies three critical developments in the global economy with profound implications that require urgent changes at the IMF. This statement advances broad proposals to address these issues by creating an Emerging Markets Fund (EMF); modifying the G20 Common Framework to effectively ...
POLICY PAPERS
May 19, 2023
Most non-DAC cooperation providers show openness to multi-partner engagement for development, but whether and how such openness can be transformed into more active cooperation—if not deeper collaboration—for development, including between DAC and non-DAC actors, remains to be seen.
CASE STUDIES
May 18, 2023
Almost 140,000 people die with a drug-resistant bacterial infection in Brazil every year due in large part to shortcomings in access, stewardship, and innovation for antimicrobials. Brazil’s existing Productive Development Partnerships system could be modified to reduce incentives for overselling an...
Blog Post
April 28, 2023
Despite a steady rise in literacy rates over the past 50 years, there are more than 750 million adults worldwide who cannot read or write. While policymakers and academics have primarily focused on educating children, and for good reason, adult learning and education programs are an important compo...
WORKING PAPERS
April 28, 2023
Approximately 770 million adults worldwide are classified as illiterate. Despite the potential for adult education programs to bridge this gap, such programs are often plagued by low enrollment, high dropout, and limited skills acquisition. Recent research in educational neuroscience and economics o...
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 ...