Western countries must join the effort to transform multilateral financial institutions, even if it means ceding some of their own influence to others who have previously been marginalized. And those pursuing systemic reforms must resist the temptation merely to tweak current arrangements.
PARIS – Lack of investment for sustainable development in the world’s poorest, most vulnerable countries is one of the most pressing global issues today, especially now that many of these countries are in debt distress, or will be soon. The fallout from the COVID-19 pandemic, Russia’s war on Ukraine, and ongoing climate-driven disasters are preventing many developing economies from achieving liftoff and exacerbating the global economy’s structural asymmetries.
PARIS – Lack of investment for sustainable development in the world’s poorest, most vulnerable countries is one of the most pressing global issues today, especially now that many of these countries are in debt distress, or will be soon. The fallout from the COVID-19 pandemic, Russia’s war on Ukraine, and ongoing climate-driven disasters are preventing many developing economies from achieving liftoff and exacerbating the global economy’s structural asymmetries.