Rethinking and Reforming the IMF

MDBs need more firepower to help low- and middle-income countries weather the climate transition. Their proposal to use SDR-funded hybrid capital to increase loans has merit but is mired in conservative interpretations of its use and the inability to use mutually a class of reserves globally. Alloca...

In the wake of the pandemic, world leaders agreed to a US$650bn allocation of Special Drawing Rights (SDRs) to bolster global liquidity. Countries across the world benefitted, but the lion-share of SDRs are allocated to larger economies in line with their IMF quotas. The G20 and other advanced econo...

In a new CGD paper, the CAF review holds an important lesson for the IMF which, if acted on, could allow it to greatly increase its support for low-income countries (LICs) while maintaining its robust financial buffers. The paper also summarizes the financial structure of the IMF’s General Resourc...