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The Time Is Right for Expanding the Use of the IMF’s Precautionary Credit Lines

Many emerging economies could benefit from insurance against this backdrop of volatility. Fortunately, cheap and no-strings-attached liquidity insurance exists, in the form of the IMF’s Flexible Credit Line (FCL) for countries with very strong policy fundamentals; for countries with somewhat weaker, but still sound fundamentals, the Precautionary and Liquidity Line (PLL) offers a similarly good deal. But these precautionary instruments remain underutilized. We have some suggestions on how the IMF could fix this.

Insights from Experience: Practical Effects of the SDGs on Public Administration and Aid

When the UN adopted the Sustainable Development Goals (SDGs) in 2015, they were met with a mix of hopedismay, and derision. Until we see how people respond to these goals, judgments about their specificity, complexity, and usefulness are educated guesses. At a workshop last month, I got a glimpse of two ways the SDGs may be making a difference—focusing political attention and reorganizing aid relationships.

It’s Time for Global Sports Bodies to Live Up to Their Rhetoric on Gender

For all the protestations about equality, there’s evidence to suggest both the International Olympic Committee and FIFA turn a blind eye to evidence of considerable discrimination against women when it comes to the opportunity to compete at the highest levels of sport. They should be ready to back their beautiful words into concrete actions that make a difference, and one tool would be banning countries that grossly discriminate from participating in events.

Refusing Visas, Refusing Income?

In 2015, there were 77,470,857 visits to the United States from other countries. These visitors brought tremendous benefit: not only did they each spend an average of $4,400 on US goods and services during their stay, but also they helped US firms engage with foreign markets, raise the quality of students here, and help with the diffusion of knowledge. We should want more of these tourists and businesspeople, and the above suggests a real cost to inaccurate visa screening mechanisms—of which blanket bans are a prime example.

She Decides, But Who Pays?

This week, representatives from 50-plus countries gathered in Brussels for the “She Decides” conference, raising about $190 million in pledges to support women’s reproductive and sexual health and rights around the world. This is great news, but the relatively small absolute scale of the pledges highlights the challenge of substituting for US financial and political leadership.

The Damage Already Done to the Foreign Assistance Budget

When White House officials decided to talk publicly about a big boost in defense spending and big cuts for EPA, the State Department, and foreign assistance while still deep in their internal negotiation process, they did so for political reasons, making a direct case to voters devoid of any clearly stated policy rationale. It’s been encouraging, and even a little bit surprising, to see strong and quick statements of opposition coming from key Republicans in the Senate and House as well as the military community. But the reality remains that the White House has decided to politicize foreign assistance in a way that we have not seen for over 30 years.

On Inequality, Redistribution, and Wishful Thinking

A key goal of tax-and-spending policies is to alleviate poverty by redistributing income from the haves to the have-nots. The extent that this is possible depends on the balance between the number of higher earners and the number of poor people, and the efficiency of the mechanisms used.

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