By Jwala Rambarran and Fahmida Khatun Developing countries require considerable capital investments to accelerate the shift to low-carbon economies, enhance resilience to climate shocks, address loss and damage, restore biodiversity loss and navigate the cross-border spillovers associated with the global climate transition. Estimates of these external financing needs converge around $1 trillion per year by […]
The Resilience and Sustainability Trust (RST) at the International Monetary Fund (IMF) fills a major gap in both the climate finance and balance of payments architectures. However, the RST will lack effectiveness without significant reform. When viewed against the resource mobilization challenges that emerging market and developing economies face, it is especially important for the […]
On April 12, just prior to the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings in Washington, D.C., the IMF Executive Board voted to renew Kristalina Georgieva as IMF Managing Director for a second five-year term starting in October. In her first term, Georgieva played an instrumental role in the Fund recognizing climate change […]
By Marina Zucker-Marques Investing in development and climate while maintaining economic and financial stability is a balance that emerging market and developing economies (EMDEs) need to strike in order to meet the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. EMDEs (excluding China) need a major investment push to achieve the 2030 […]
Time is running out to achieve the goals set out in the United Nations 2030 Agenda for Sustainable Development and the Paris Agreement. Not meeting these goals will have tragic impacts on the lives of present and future generations; yet, emerging market and developing economies (EMDEs) are facing conditions that inhibit their ability to mobilize […]
By Manuel Cruz On Thursday, March 21, the Boston University Global Development Policy Center hosted Manuela Moschella, Professor of Political Science at the University of Bologna, to present the main ideas of her forthcoming book, “Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy.” In her discussion, Moschella explained the institutional transformation of central […]
By Tim Hirschel-Burns From April 15-19, policymakers, civil society, researchers and more will gather in Washington, D.C. for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. These official, high-level meetings will set the direction for the institutions, amid a plethora of panels and side events, as well as related meetings like the G20 […]
By Rachel Thrasher Pressure is building for European Union (EU) member states to execute a coordinated withdrawal from the Energy Charter Treaty (ECT). As of March 2024, the European Council of Ministers approved such a move, considering that the treaty is “too protective of fossil fuel investments” and “incompatible with Europe’s climate ambitions.” This follows […]
By Tim Hirschel-Burns In late January, the United Nations released the zero draft of the Pact for the Future, the outcome document of the Summit of the Future. The Summit of the Future is scheduled for September 22-23, 2024, ahead of the high-level General Debate of the 79th Session of the United Nations General Assembly. […]
The South African National Treasury (NT) recently proposed to transfer 30 percent of the unrealized gain on the South African Reserve Bank’s (SARB’s) gold and foreign exchange reserves, worth about 2.4 percent of gross domestic product (GDP), to the NT. The February budget announcement led government bond yields to decline as market participants foresaw a […]