Since it is a click-baity title, here are the three big ideas: I have only a passing understanding of the IMF and the world bank, but the idea seems to be that there will be no managing the...
Since it is a click-baity title, here are the three big ideas:
So, three big ideas for New Delhi that would help put out and prevent future economic fires:
One. Ramp up all the multilateral development banks, starting with the World Bank....With all the help a world on fire needs, it should not be acceptable that donor contributions to the World Bank’s arm for supporting the world’s poorest countries have failed to keep up with inflation over the past decade. Even more problematic is the reality that, at present, total lending from the development banks is roughly equivalent to the amount they are repaid by developing countries.
Two. The G-20 should demand that the IMF move deeper on debt and further on flexibility. With scores of countries looking over the cliff at debilitating debt crises, the fund needs to accelerate its drive to fashion a solution at scale....Given all that emerging markets are facing, the IMF needs to establish a mechanism that can provide support at scale to countries facing external challenges that make them victims of problems beyond their control.
And three. Russia’s immobilized assets should be used to rebuild Ukraine and repair the damage caused by Vladimir Putin’s invasion.... We need to start deploying these resources now to undermine Putin, to uphold justice and to ensure that, at a time of maximum need across the globe, we are financing Ukraine’s reconstruction while also getting resources to the world’s poorest people.
I have only a passing understanding of the IMF and the world bank, but the idea seems to be that there will be no managing the climate crisis and the global population if the G-20 does not start supporting Africa and the global south better, and #1 and #2 are aimed at that. #3 is a little "one of these things is not like the others". I guess it is still monetary policy in nature, but doesn't seem to fit with the overall thesis. TBC, I am not saying #3 is bad idea, just that in the context of the article, it seems a little "tacked on".
Since it is a click-baity title, here are the three big ideas:
I have only a passing understanding of the IMF and the world bank, but the idea seems to be that there will be no managing the climate crisis and the global population if the G-20 does not start supporting Africa and the global south better, and #1 and #2 are aimed at that. #3 is a little "one of these things is not like the others". I guess it is still monetary policy in nature, but doesn't seem to fit with the overall thesis. TBC, I am not saying #3 is bad idea, just that in the context of the article, it seems a little "tacked on".