Despite all the hype, greater access to private international capital has not been much use to most emerging markets and developing countries over the past two decades. The record suggests that solutions to current macroeconomic dilemmas that still rely on net capital inflows are likely to end in tears.
questions the value to emerging and developing economies of relying on net capital inflows.
The G7 summit in Cornwall will determine who is vaccinated against COVID-19 and safe and who remains unvaccinated and at risk. Rich-country leaders may be tempted to share excess vaccines rather than finance the extra costs of global immunization, but this will not be enough.
urges G7 leaders to finance COVID-19 immunization drives in the world’s poorest countries.