Recent Posts
The Development Finance Agenda Must Adapt to Africa’s Reality
November 29, 2022The global financial architecture is no longer aligned with the economic, social, and environmental needs of many African economies. But addressing this misalignment will require a strong African voice from leaders and policy institutes working together to determine what changes are needed. To help address these issues and develop a more unified African perspective, a group of ten African think tanks and policy institutes gathered on November 15, 2022, to launch the amplifying Africa’s voice initiative. Two tracks of connected reflections African countries are being faced with twin challenges. On the [...]
Hybrid Capital and SDRs for the Uninitiated
November 28, 2022More than a year after the IMF general allocation of Special Drawing Rights (SDRs) and the G20 promise to recycle $100 billion of SDRs, how much has been achieved? The quick answer: $60 billion has been pledged, and there is hope that the United States will contribute another $21 billion. But how will the recycled SDRs be used? The IMF would like to absorb about $65 billion through the Poverty Reduction and Growth Trust (PRGT) and the Resilience and Sustainability Trust (RST), which leaves about $35 billion looking for a [...]
Amplifying Africa’s Voice – Global Financial Architecture, MDB Reform and Climate Finance
November 25, 2022On November 15, ACET and Finance for Development Labs (FDL), in collaboration with the Transformation Leadership Panel (TLP), launched the Amplifying Africa’s Voice initiative, which seeks to amplify Africa’s voice in the dialogue on reforming the global financial architecture. About the Initiative The Amplifying Africa’s Voice initiative will support a process of engagement, knowledge sharing, research, and advocacy with a select group of African economic policy institutes and thought leaders. This process will lead to a better understanding of, and appreciation for, the global financial architecture challenges. It will also lead to [...]
Rightsizing the MDB System in the Polycrisis Era
November 8, 2022For both rich and poor countries, the climate crisis is no longer looming. It is all around them. Yet, as thousands gather in Sharm el-Sheikh for COP27, scientists have just confirmed that we are nowhere near where we need to be on greenhouse gas emissions reductions. We can expect a raft of finance promises to emerge from the meetings, many focused on contributions to the arbitrary climate finance target of $100 billion per year, first set in 2009. But very credible analysis suggests that we need an additional $1.3 trillion [...]