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Blog Post
April 08, 2025
The US tariffs announced on April 2 aim to penalize countries with which the US has large bilateral trade deficits. According to a formula provided by the Office of the United States Trade Representative, the larger the US bilateral deficit as a proportion of US imports from a partner country, the ...
CGD NOTE
March 24, 2025
After the decision of the Venezuelan regime to disregard the results of the presidential election of July 28, 2024, and subsequently swear in Maduro for a new term on January 10, 2025, the international community faces a new reality. The Venezuelan people, essentially, have tried every single tool i...
CGD NOTE
March 05, 2025
It's been repeated time and again: The US trade deficit stems from a persistent savings-investment gap. Without closing that gap, the deficit won’t shrink. Tariffs may reduce the bilateral trade deficit with one country, but they increase the trade deficits with others—like pressing on one part of a...
POLICY PAPER
February 10, 2025
Banks play a central role in both the payments system and the provision of funding for firms and corporations. This role is particularly important in emerging markets and developing economies, where alternative sources of financing are scarce owing to underdeveloped local capital markets. Furthermor...
Blog Post
December 12, 2024
In poorer countries examples of real success are few and far between, but one contender in recent years has been the city of Sobral in the state of Ceará in Brazil. Despite being a poorer region of the country, Sobral and Ceará shot up the ranking on domestic tests. A World Bank report from 2020 hai...
Blog Post
November 27, 2024
This week, President-elect Trump said he would impose a 25 percent tariff on all goods coming from Mexico and Canada, effectively disregarding the North American free trade agreement (USMCA) that he made a priority to renegotiate in his first term. The USMCA has a review clause where the three count...
POLICY PAPER
October 15, 2024
This paper addresses a critical flaw in the international financial system: the failure to address the inherent asymmetry between countries that issue reserve currencies and those that do not, leaving the latter vulnerable during systemic liquidity crises. We propose an IMF-managed Emerging Market F...
WORKING PAPER
October 10, 2024
This paper presents findings from a comprehensive survey of 18 central banks and banking supervisor authorities in Latin America and the Caribbean, including major economies like Argentina, Brazil, Chile, Colombia, and Mexico. The survey aimed to assess the adoption of the Basel III standards across...
Blog Post
July 09, 2024
Gender data is needed to gauge the extent to which financial services include and benefit women. However, sex-disaggregated data that tracks access to and use of financial services is still hard to come by, and it is especially rare to have country-level data that captures the universe of financial ...