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...

When the G20 pledges of $100 billion of SDR recycling materialize, there will no doubt be much self-congratulatory celebration. But the celebrations will be meaningless if the SDRs do not make their way to the low- and middle-income countries (LMICs) that need them. Will we be able to tell if the SD...

The first section of this note examines the causes and consequences of Afghanistan’s financial crisis and lays out policy options the international community can support to enable urgent financial flows and restore the basic functioning of the Afghan financial system. The next section examines prosp...

As the global financial community considers how to extend debt relief accompanied by IMF adjustment programs to vulnerable low-income countries, the issue of policy conditions for fiscal adjustment will inevitably arise. This paper considers the effectiveness of conditions related to domestic revenu...

USAID recently released a draft Local Capacity Development (LCD) Policy. While USAID routinely invests in interventions designed to strengthen local capacity, this is the first time the agency has attempted to articulate principles that will govern its approach and propose, in broad terms, the steps...

This paper discusses three potential requirements for country platforms to facilitate effective delivery of GPGs. We propose that existing country platforms be repurposed to coordinate the contribution of domestic and external stakeholders to GPG delivery efforts at the country level. For this propo...

In recent decades, the number of people migrating irregularly from the three Northern Triangle countries of Central America—El Salvador, Guatemala, and Honduras—has been increasing, putting pressure on the Biden-Harris administration to address the root causes of irregular migration and deliver “res...