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The IMF’s Poverty Reduction and Growth Trust (PRGT) faces large financing needs. Unprecedented levels of lending since the start of the pandemic – four to five times higher than before the pandemic – have seriously depleted the PRGT’s subsidy resources. If these are not replenished, the PRGT’s lending capacity from 2025 onwards could collapse to well below its pre-pandemic level.
Through the summer, I’ve had a few excuses for the links showing up at random times, or disappearing: technical disasters, our automated system crashing, unexpected illnesses and the like. But for the next two weeks, it will be none of these things that keep these links away from you: I am going on an honest-to-god holiday, the kind with beaches, pools, Dashiell Hammett and John Mortimer by the pool (in book form, I’m not having a holiday with a medium) and my son eating all the prawns off my plate. I haven’t quite finished my whole to-do list, so I’ll be working for another couple of ...
The ‘British summer’ used to be an oxymoron—it meant umbrellas, packing a jumper and a light raincoat as well as your sunglasses and, every four years, getting thrashed by the Australians in the cricket. Things have changed: the Aussies are still giving us a hammering (though England look like they might take something from the third test), but the weather, while still variable, now veers between blisteringly hot and wild, monsoony rain
One of the biggest changes in how global climate finance is conceptualised and delivered is currently being considered by a select, UN-convened committee that includes Australia. A key outcome from the UN Framework Convention on Climate Change (UNFCCC)’s 27th Conference of the Parties (COP27) mee...
Ensuring funds are "new and additional", and minimising their fragmentation, are critical for this new climate financing mechanism, says Cameron Hill.