Global Economic Governance
The Global Economic Governance Initiative (GEGI) advances policy-oriented research to enable the international financial architecture to foster financial stability, human well-being and environmental sustainability across the globe.
RESEARCH SPOTLIGHT
With just six years until 2030, there is an urgent need to unlock investments and mobilize affordable climate finance in a fiscally sound and financially stable manner.
The International Monetary Fund (IMF) has a vital role to play, and proposals to reform the international financial architecture – whether the Bridgetown Initiative, the Paris Pact for People and Planet or the Nairobi Declaration – all involve reforms to the IMF.
Yet, despite notable recent strides, ambition to integrate climate at the Fund remains limited. A transformation of the IMF is necessary for aligning the international financial architecture with shared development and climate change goals.
A new report from the Task Force on Climate, Development and the IMF pushes for a faster and deeper evolution of the IMF that is both development-centered in its approach to climate and embraces an investment push as a priority goal. It presents three core policy recommendations animated by an IMF 2030 Action Agenda, comprised of concrete reforms to be implemented over the next 12 months.
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GDP Center Round-up: 4th International Conference on Financing for Development
June 26, 2025By Samantha Igo As a record-breaking heat wave strains energy grids and risks public health across Europe, policymakers, activists and experts convene in Seville, Spain from June 30 to July 3 for the highly anticipated 4th International Conference on Financing for... [ More ]
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Investing in Climate and Development: The Evolving Role of the International Financial and Tax Architectures
June 26, 2025Addressing the intertwined challenges of climate change and growth in emerging and developing economies requires an urgent and unprecedented increase in climate-aligned investment. Increasing investment is essential to addressing the negative effects of climate shocks on growth and productivity. This... [ More ]
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Are Multilateral Development Banks Big Enough, and How Can We Tell?
June 25, 2025By Rishikesh Ram Bhandary When governments met for the 3rd International Conference on Financing for Development in Addis Ababa, Ethiopia in 2015, they asked multilateral development banks (MDBs) to examine the adequacy of their resources to support the sustainable development agenda. [ More ]
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Multilateral Development Banks and Financing for Development: The Role of Resource Needs Reviews
June 25, 2025Multilateral development banks (MDBs) play a key role providing developing countries with affordable, long-term finance. In 2024, to help meet development challenges, the Group of 20 (G20) agreed on a roadmap to make the MDBs bigger, better and more effective... [ More ]
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The Jubilee Report: A Blueprint for Tackling the Debt and Development Crises and Creating the Financial Foundations for a Sustainable People-Centered Global Economy
June 25, 2025Developing countries are facing dramatic debt and development crises where, to meet obligations to their external creditors, debt-distressed countries are sacrificing investments in education, healthcare, infrastructure and climate resilience. A reason for the debt situation is that the international community failed... [ More ]
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FAQs: What Can be Expected from the 4th International Conference on Financing for Development?
June 18, 2025By Tim Hirschel-Burns The highly anticipated Fourth International Conference on Financing for Development (FFD4) will take place from June 30 to July 3 in Seville, Spain. Achieving the UN 2030 Sustainable Development Goals (SDGs) requires funding that is in short supply in... [ More ]
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The Cost of Inaction: Explaining Africa’s Debt Distress in 10 Charts — and Five Fixes for the G20
June 18, 2025By Marina Zucker-Marques The African continent holds immense potential for sustainable development. It is rich in renewable energy resources—home to 60 percent of the world’s solar potential, 30 percent of proven transition mineral reserves and enough wind capacity to meet its... [ More ]
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How Mexico Can Design a USMCA Where Development Matters
June 04, 2025By Tim Hirschel-Burns and Rachel Thrasher It is a fraught moment for North American trade policy. Over the last few months, United States President Trump has announced and then paused various tariffs on Canada and Mexico. Both countries have threatened retaliation... [ More ]
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Norms and Troubled Sovereign International Debt
May 29, 2025Troubled sovereign international debt is a global governance challenge, requiring solutions balancing the interests of the global economy, creditors, and debtor nations and their citizens. Unspoken ethical and/or logical assumptions exert subtle influences on sovereign debt debates and negotiations. A new... [ More ]
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The Role of Ideas in Economic Policy: The Global Sovereign Debt Regime
May 29, 2025By Leslie Elliott Armijo and Prateek Sood Ideas matter for choices about economic policy. Unexamined assumptions may bound the scope of the analysis of the sources of problems, as well as their possible solutions. After each round of international financial crises... [ More ]