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|Anna Breman and Stefan Ingves:
Last year, the members of the International Monetary Fund (IMF) approved an allocation of special drawing rights (SDRs) of USD 650 billion, the largest allocation in the history of the IMF. Since then, a new financing instrument at the IMF is being discussed, largely financed by these new SDRs.
|Fri, May 20, 2022
|Kevin P. Gallagher:
In these times of information overload it is easy to overlook groundbreaking news. In the midst of the G7 walk out of the G20 meetings and subsequent inability of the International Monetary Fund to issue a communique at its annual meetings during a period of unprecedented economic uncertainty, US Treasury Secretary called for a fundamental reform of the international financial architecture. This is a major event for US policy, which is at the epicenter of the problem and the solution.
|Tue, Apr 26, 2022
In our multicurrency world, the U.S. dollar is widely used for pricing internationally traded goods, for international payments, and for denominating the assets governments and companies hold as reserves. Why is that and what are its implications for U.S. behavior? What would a better system look like?
|Mon, Mar 28, 2022
By: Herman Mulder, Former ABN AMRO Bank; co-initiator of the 2003 Equator Principles; Chair True Price, Impact Economy Foundation; Chair SDG Netherlands.
|Tue, Mar 8, 2022
Small policy decisions and temporary fixes are often offered at the beginning of a conflict, but IFIs need to begin making larger reforms sooner instead of postponing them. This way, economic systems can heal holistically instead of receiving temporary band-aids.
|Thu, Mar 3, 2022
About 5 days ago, on February 24, Russia illegally and without provocation and cause attacked the sovereign country of Ukraine. It is in everyone’s interest (with the exception of the military industrial complex) to end the fighting and establish a sustainable peace as quickly as possible.
|Mon, Feb 28, 2022
|Ousmène Jacques Mandeng :
50 years ago, the Bretton Woods system of fixed exchange rates came to a sudden stop. It seemed the end of an era of multilateral and rules-based monetary cooperation considered critical to facilitate international payments.
|Wed, Aug 4, 2021
It is no secret that the West is exceedingly uncomfortable with China’s Belt and Road Initiative (the BRI) and its role in building infrastructure in developing countries, and for good reasons. The terms of these investments by China’s parastatal banks are opaque and recent research reveals that contracts include non-disclosure covenants to keep them so. That said, it is China that is pouring the most money into infrastructure investments into Sub-Saharan Africa in particular in a way that no one else can match.
|Thu, Jul 8, 2021
COVID-19 was the greatest public health crisis in a century, and it engendered the greatest economic crisis since the Great Depression.
|Wed, Feb 24, 2021
|Marjo Koivisto and Daria Taglioni:
Aside from accelerating decarbonization of industries, a key priority in the global economy today is to reduce the use of virgin materials. In discussions over the circular economy (CE), emphasis is usually put on “reusing” and “recycling”. Instead, for CE to grow sufficiently to avert the grim projections of the global economy running out of materials within decades, more pervasive change is needed. The notion that products and materials that depreciate slower are more valuable must be better internalized by their industrial and household consumers.
|Wed, Feb 24, 2021