By Nathalie Marins Over the past few years, public debt has returned to the spotlight, especially in developing economies. Once seen as a tool for economic development and crisis response, debt has been increasingly perceived as a significant risk to economic stability and growth. With global shocks like the COVID-19 pandemic, rising interest rates in […]
The concept of policy space, especially fiscal space, has become increasingly important as policymakers strive to balance the need for increased public investment with concerns about debt sustainability. However, there is still no consensus on the definitions of policy space and external sustainability. A new working paper by Nathalie Marins seeks to contribute to this discussion […]
By Samantha Igo From April 21-26, 2025, all eyes in the global economic governance space will turn to Washington, DC as the 2025 International Monetary Fund (IMF)/World Bank Spring Meetings kick-off amid a rapid-fire news cycle, tumultuous geopolitical environment and ongoing calls for structural reform to the international financial architecture. While expectations for meaningful progress […]
At a time when developing countries need to ramp up investment to achieve development and climate goals, tax revenue is particularly urgent. A global tax system weighted towards multinational companies makes collecting this revenue more challenging. International cooperation can help correct these imbalances, but a major question is how and where these negotiations should occur: […]
By Tim Hirschel-Burns and Marina Zucker-Marques Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance, and they are overdue for reform. Quotas are the primary funding source to support the IMF’s lending and operations, and they determine the amount countries can borrow from the IMF, their share of Special Drawing […]
Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance. Beyond serving as the IMF’s primary funding source to support IMF lending and operations, quotas shape members’ access to financing, allocation of Special Drawing Rights (SDRs) and voting power. This year, the IMF stands at a crossroads as it is set to […]
By Jwala Rambarran and Sara Jane Ahmed The Fourth International Conference on Financing for Development (FfD4), which takes place at the end of June in Spain, will attempt to forge the main global policy framework for development finance over the next decade and presents a critical opportunity to tackle systemic inequities in the global financial […]
As the only multilateral, rules-based institution responsible for promoting global macroeconomic and financial stability, the International Monetary Fund (IMF) has a central role to play in helping its member countries urgently unlock and mobilize substantial and affordable climate financing. In this respect, the IMF must be commended for expanding and complementing its lending toolkit by […]
By Kofi Gunu, Marina Zucker-Marques and Rishikesh Ram Bhandary On March 28, 2025, Myanmar suffered a magnitude 7.7 earthquake, which caused devastating loss of life and property. Current reports put the death toll over 3,400, with 4,671 injured and 214 missing. As survivors continue to tally up the damage from this shock, this much is […]
By Cornel Ban and Xuan Li In most Western economies, venture capital (VC) is largely a private enterprise, driven by the pursuit of profit. The state typically plays a secondary role, stepping in only when private capital is hesitant. Government VC firms fill this gap, providing risk capital to innovative startups and fueling Mazzucato-style “missions.” […]