Tag: World Bank
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All Hands-on Deck Needed for Development Finance—including China
By Tim Hirschel-Burns Many people in the development finance community migrated up the United States' eastern seaboard over the weekend. Last week, the International Monetary Fund (IMF) and World Bank Group Spring Meetings took place in Washington D.C., while this week ...
Should China Have a Larger Stake in the International Monetary Fund?
The World Bank and the International Monetary Fund's (IMF) annual Spring Meetings got underway in Washington, D.C., on Monday. These two institutions' stakeholders will spend the week grappling with issues ranging from debt to climate change and global governance. One issue ...
Bridging the $3 Trillion Investment Gap: Debt Relief and the Race to Achieve the SDGs and Paris Agreement
By Marina Zucker-Marques This week, policymakers, civil society leaders, researchers, and others will gather in Washington, D.C., for the 2024 International Monetary Fund (IMF)/World Bank Group Spring Meetings. The meetings come as many ...
China Not a Significant Factor in Ghana’s Debt Distress – World Bank
Ghana has relatively low exposure to loans from China and multiple creditors, enabling the country to reach debt restructuring agreements. Chinese creditors account for only 7% of Ghana’s public external debt, while China accounts for 36% of Zambia’s external debt and ...
Making Sense of Competing Narratives on Debt and Climate Change
By Tim Hirschel-Burns If you are a casual observer trying to keep up with the news on sovereign debt right now, you have every right to be confused by last month’s stories. According to Bloomberg, ...
Poor Countries Seek Bilateral Debt-Relief Efforts After Rebuf From IMF and World Bank
The International Monetary Fund's director dismissed calls debt cancellation from Ghana, Nigeria and other countries on the continent, saying it would adversely impact domestic creditors. (INVESTING) ETHIOPIA: After receiving debt relief from China, Ethiopia is reviving ...
Backgrounder: IMF Quota Discussions in Marrakesh Point to Tectonic Change
This week’s IMF and World Bank meetings in Morocco will discuss fundamental changes to the global financial architecture, including who gets to make decisions in the World Bank and the International Monetary Fund. IMF officials ...
BRI DEEP DIVE: Outside View Reveals Debt and Pollution, But Also Real Development Benefits
If the Chinese Government’s white paper gives the government account of the BRI, a second huge report provides the view from outside. Boston University’s Global Development Policy Center published a report this week that takes a critical view of the initiative’s first decade.
WEEK IN REVIEW: DRC President Félix Tshisekedi Officially Inaugurated a New Chinese-Built Dry Port
Félix Tshisekedi, the president of the DRC, officially inaugurated a new Chinese-built dry port. The Sakania dry port is on the border with Zambia and will double as a border post and a nerve center in the countries’ cross-border mining industries. Built by Jiayou International Logistics, it is ...
Is China Setting the Agenda for Global South Debt Restructuring?
In June, Zambia reached what's been described as a landmark debt restructuring deal that for the first time brought together the country's bilateral creditors including China, traditional Paris Club lenders and bondholders. While the deal ...
Yet Another Failed G20 Debt Gathering
A meeting of finance ministers and central bank heads of the G20 group of leading economies produced few results despite increasingly shrill calls for action to help the roughly 50% of developing countries stalked by debt distress. Progress at the ministerial meeting, ...
Sri Lanka Gets Relief from World Bank as FM Walks a Careful China Line
The World Bank announced $700 million in budgetary and welfare support to Sri Lanka on Thursday. The news comes as Sri Lanka’s Foreign Minister Ali Sabry met with China’s Finance Minister Liu Kun and Exim Bank chair Wu Fulin to discuss China’s central role in his country’s debt restructuring. ...