Global Economic Governance
The Global Economic Governance Initiative (GEGI) advances policy-oriented research to enable the international financial architecture to foster financial stability, human well-being and environmental sustainability across the globe.
RESEARCH SPOTLIGHT
With just six years until 2030, there is an urgent need to unlock investments and mobilize affordable climate finance in a fiscally sound and financially stable manner.
The International Monetary Fund (IMF) has a vital role to play, and proposals to reform the international financial architecture – whether the Bridgetown Initiative, the Paris Pact for People and Planet or the Nairobi Declaration – all involve reforms to the IMF.
Yet, despite notable recent strides, ambition to integrate climate at the Fund remains limited. A transformation of the IMF is necessary for aligning the international financial architecture with shared development and climate change goals.
A new report from the Task Force on Climate, Development and the IMF pushes for a faster and deeper evolution of the IMF that is both development-centered in its approach to climate and embraces an investment push as a priority goal. It presents three core policy recommendations animated by an IMF 2030 Action Agenda, comprised of concrete reforms to be implemented over the next 12 months.
Read the Report Read the BlogExplore the research programs
GEGI Publications and News
Subscribe to the GEGI Mailing List
-
Five Realistic Goals for Global Economic Governance in 2025
December 18, 2024By Tim Hirschel-Burns 2025 admittedly presents a dubious landscape for achieving substantive global economic governance reforms. The scale of needs is large—achieving development and climate goals demands trillions more in annual financing and a reorientation of our economic system—while our political... [ More ]
-
Around the Halls: A Year in Review and Look Ahead to 2025
December 18, 2024The most notable milestone of 2024 was the 80th anniversary of the Bretton Woods institutions of the International Monetary Fund (IMF), World Bank and World Trade Organization. This anniversary came as calls for ambitious global economic governance reforms gain momentum... [ More ]
-
Advancing Climate Policy at the IMF
December 17, 2024While the macroeconomic significance of climate change has been understood in academic scholarship for a long time, policy engagement on this topic is rather new. While initiatives such as the Network for Greening the Financial System and the Coalition of Finance... [ More ]
-
A Roadmap for Unlocking the Potential of Multilateral Development Banks Exists – and the G20 Just Endorsed It
December 09, 2024By Tim Hirschel-Burns and Rishikesh Ram Bhandary A $4 trillion financing gap to achieve the United Nations Sustainable Development Goals (SDGs), 85 percent of which are off track. A need to rapidly scale up climate action and energy access. Weak global... [ More ]
-
Webinar Summary – Feminism in Public Debt: A Human Rights Approach
December 04, 2024By Praveena Bandara On November 7, 2024, the Boston University Global Development Policy Center (GDP Center) hosted Marina Zucker-Marques, Senior Academic Researcher at the GDP Center, and Juan Pablo Bohoslavsky, Researcher at the National Scientific and Technical Research Council of Argentina (CONICET), [ More ]
-
A One United Nations for Achieving the Sustainable Development Goals
November 20, 2024By Kamal Malhotra The United Nations (UN) is arguably the world’s most enduring and all-encompassing “global public good.” In fact, the recent UN Summit for the Future, where 193 UN Member States co-signed a Pact for the Future, reaffirmed that the... [ More ]
-
Better Understanding the Renminbi’s Internationalization
November 18, 2024By Marina Zucker-Marques In the evolving landscape of international finance, the internationalization of China's currency, the renminbi, has become a focal point of discussion. While this doesn’t suggest that the renminbi is on track to replace the US dollar, its growing... [ More ]
-
Currency Internationalization, Payment Infrastructures and Central Banks: An Institutional Analysis of Renminbi Internationalization
November 18, 2024What role do central banks play in designing cross-border payment infrastructure as part of a broader agenda of currency internationalization? In a new journal article published in Research in International Business and Finance, Marina Zucker-Marques focuses on China’s experience from 2008... [ More ]
-
GDP Center Round-Up: 29th United Nations Climate Change Conference (COP29)
November 13, 2024By Tim Hirschel-Burns The 29th United Nations Climate Change Conference (COP29), taking place from November 11-29, 2024 in Baku, Azerbaijan, has been dubbed the “Finance COP” and is expected to deliver a new climate finance goal, known in COP jargon as... [ More ]
-
A Golden Opportunity: Selling a Small Share of the IMF’s Gold Reserves to Replenish the Catastrophe Containment and Relief Trust
November 13, 2024The International Monetary Fund (IMF) holds 90.5 million ounces of gold on its balance sheet, a legacy from its founding in 1944, when member countries paid their quotas in gold. This idle gold is sitting on the IMF’s balance sheet... [ More ]