(AGENPARL) – ven 08 aprile 2022 The latest IMF analysis of global economics, finance, development and policy issues shaping the world. []
[IMF Weekend Read]
Dear Colleague,
In today’s edition we focus on the challenges of restructuring the debts of poorer nations, how to manage the long-term risks from COVID-19, a special series of three F&D articles on the future of inflation, global financial resilience, war’s impact on emerging markets, climate change indicators, India, Japan and Lebanon, and much more.
(PHOTO: IMF PHOTO/ESTHER RUTH MBABAZI)
Low-income countries face fewer debt challenges today than they did in the mid-1990s, but debt has been creeping up for the past decade. Changes to the composition of creditors will make restructurings more complex, the authors say.
–Changing Creditors: In past decades, the mostly sub-Saharan African countries that were eligible for the Debt Service Suspension Initiative borrowed mainly from multilateral organizations such as the IMF and World Bank and the Paris Club official creditors. Today, China and private bondholders play a much larger lending role.
–Common Framework: As the economic shocks from COVID-19 and the war in Ukraine add to the debt challenges faced by low-income countries, it has become urgent to put in place mechanisms that ensure coordination and confidence among creditors and debtors, the authors say.
“Improvements to the G20 Common Framework could play an important role by ensuring broad participation of creditors with fairer burden sharing.”
Health
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–Additional Funding: The paper, published jointly with the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Fund, and Wellcome Trust, calls on the international community to allocate additional funding to fight pandemics and strengthen health systems across the world. This will require about $15 billion in grants this year and $10 billion annually after, the paper says.
“Infectious diseases with pandemic potential are a threat to global economic and health security. The international community should recognize that its pandemic financing addresses a systemic risk to the global economy.”
CREDIT: ISTOCK / VECTORMINE
With inflation in the headlines, F&D online has just published a special feature on the future of inflation.
Authored by the IMF’s Ruchir Agarwal and Miles Kimball of the University of Colorado, the three-article series looks at:
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(PHOTO: ETIENNE MARTIN/UNSPLASH)
(PHOTO: SWISSHIPPO/ISTOCK BY GETTY IMAGES)
(PHOTO: IMF)
(PHOTO: METAMORWORKS/ISTOCK BY GETTY IMAGES)
WEEKLY ROUND-UP
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Nick Owen
Editor
IMF Weekend Read
Thank you again very much for your interest in the Weekend Read! Be sure to let us know what issues and trends we should have on our radar.
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