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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...
POLICY PAPERS
January 23, 2024
If green transition targets are to be met, migration is likely to be needed as a complement to domestic training and reskilling. Given that the shortage of green-skilled workers is global, however, migration must be accompanied by support for training and retaining workers at home.
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...
POLICY PAPERS
March 28, 2023
This paper provides an early assessment of five initial programs supported by the IMF’s new facility supported by the Resilience and Sustainability Trust to address two long-term challenges, climate change and pandemic preparedness. We find that its operations can be strengthened to better achieve t...
POLICY PAPERS
December 07, 2022
This paper studies the formal labor market integration and firm creation of Venezuelan immigrants and refugees in Colombia between late 2019 to late 2021. It applies a novel framework to identify segments of the Colombian economy where Venezuelan immigrants and refugees are lagging behind.
POLICY PAPERS
November 03, 2022
Few labor-based pathways for regular migration are available for people in Northern Central America. This paper summarizes the state of labor-based migration channels in the region and argues that extending those channels is a necessary complement to asylum reform. It offers five recommendations for...
POLICY PAPERS
October 31, 2022
The US is looking for ways to stimulate economic development within, and expand legal migration pathways from, El Salvador, Guatemala, and Honduras. At the same time, US employers are struggling with shortages in key industries. A Global Skill Partnership between the US and El Salvador, Guatemala, o...
POLICY PAPERS
October 18, 2022
Conditional Cash Transfers are increasingly used by development aid agencies to reduce the incentives for migration from low-income countries. The evidence to date suggests that such transfers typically increase the rate of migration when they are conditional on investment, such as investment in edu...
BRIEFS
October 11, 2022
We are living in a time when many countries face heightened debt vulnerabilities. There is no international bankruptcy mechanism for countries that default on their external obligations. The objective of the international financial architecture—historically overseen by the IMF and its shareholders— ...
POLICY PAPERS
October 04, 2022
Global reserves can serve as a global public good, facilitating the short-term global recovery from the economic impacts of the pandemic and Russian invasion of Ukraine, as well as the longer-term global transition to a sustainable and equitable economic future. Strategic allocation of Special Drawi...