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: 2025 IMF/World Bank Spring Meetings
April 16, 2025By Samantha Igo From April 21-26, 2025, all eyes in the global economic governance space will turn to Washington, DC as the 2025 International Monetary Fund (IMF)/World Bank Spring Meetings kick-off amid a rapid-fire news cycle, tumultuous geopolitical environment and ongoing... [ More ]
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Back to the Future: How the Pre-OECD Global Tax Landscape Offers Lessons for Today
April 16, 2025At a time when developing countries need to ramp up investment to achieve development and climate goals, tax revenue is particularly urgent. A global tax system weighted towards multinational companies makes collecting this revenue more challenging. International cooperation can help... [ More ]
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The IMF’s 17th General Review of Quotas Needs a New Formula to Deliver on Development
April 14, 2025By Tim Hirschel-Burns and Marina Zucker-Marques Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance, and they are overdue for reform. Quotas are the primary funding source to support the IMF’s lending and operations, and they... [ More ]
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A Challenging Imperative: IMF Reform, the 17th Quota Review and Increasing Voice and Representation for Developing Countries
April 14, 2025Quotas are at the core of the International Monetary Fund (IMF)’s finances and governance. Beyond serving as the IMF’s primary funding source to support IMF lending and operations, quotas shape members’ access to financing, allocation of Special Drawing Rights (SDRs) and... [ More ]
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Disaster-Triggered Financing Mechanisms Must Provide More Relief for Myanmar
April 07, 2025By Kofi Gunu, Marina Zucker-Marques and Rishikesh Ram Bhandary On March 28, 2025, Myanmar suffered a magnitude 7.7 earthquake, which caused devastating loss of life and property. Current reports put the death toll over 3,400, with 4,671 injured and 214 missing. [ More ]
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The International Financial Architecture and Sustainable Prosperity
March 24, 2025The current international financial architecture is misaligned with the United Nations 2030 Sustainable Development Goals and the Paris Agreement. External financing flows to emerging market and developing economies, excluding China, need to increase by at least $1 trillion annually by... [ More ]
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Scaling Up Funding and Reforming Financial Institutions
March 17, 2025In the 2024 United Nations Pact for the Future, global leaders committed to scaling up and reforming international financial institutions to make them fit to meet the global challenges of the 21st century. Moving forward, there are two vital opportunities for... [ More ]
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10 Ways Financing for Development has Changed in 10 years
March 12, 2025By Tim Hirschel-Burns Financing for Development Conferences – the chief event in the United Nations (UN) system on mobilizing the resources needed to achieve development – don’t come around very often: a decade ago in Addis Ababa, negotiators produced the Addis... [ More ]
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Mapping Global Financial Risks Under Climate Change
March 10, 2025There is a growing concern about the potential impacts of climate change on financial stability but little quantitative evidence is available on the potential magnitude of financial risks induced by climate extremes. An accurate assessment of climate physical risk is... [ More ]
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Unlocking Synergies Between Multilateral Development Banks and National Development Banks
February 24, 2025By Chiara Mariotti and Richard Kozul-Wright 2025 will be a pivotal year for development and climate cooperation, with financial matters coming to the fore at a range of key policy events, from the upcoming Finance in Common Summit taking place at... [ More ]