Global Financing to End the Pandemic

“Such an unprecedented global undertaking requires strong cooperation, including financial support. Yet the urgency should be clear to all. As long as COVID-19 persists at high rates of transmission anywhere in the world, the pandemic will continue to disrupt global production, trade, and travel, and will also give rise to viral mutations that threaten to undermine previously acquired immunity from past infections and vaccinations.”

via Project Syndicate

When Special Drawing Rights Aren’t So Special

“In the post-pandemic period, African governments will need to invest even more in expanded digital access, climate resilience, and green growth. Given these needs, a standard SDR allocation will not be nearly enough to alleviate Africa’s current plight.”

via Project Syndicate

Multilateral Cooperation for Global Recovery

“Over the past decades, two major crises have disrupted our societies and weakened our common policy frameworks, casting doubt on our capacity to overcome shocks, address their root causes, and secure a better future for generations to come.”

via Project Syndicate

The Pandemic Public-Debt Dilemma

“Much of the conventional wisdom about how governments should manage the COVID-19 economic fallout is perfectly appropriate for advanced economies, but dangerous elsewhere. Even if developing and emerging economies could simply borrow and spend more to weather the storm, doing so could jeopardize their long-term economic prospects.”

via Project Syndicate

How Africa Can Self-Finance its Economic Recovery

“While the COVID-19 pandemic is hitting the continent hard, strategies such as asset recycling, continued digitalization, and stronger regional integration can help ensure that Africa is strong enough to fight back.”

via Project Syndicate

The Unfinished Agenda of Financing Africa’s COVID-19 Response

“The continent’s pandemic-response funding gap is likely to amount to some $100 billion annually over the next three years. The international community – especially the G7, the G20, and multilateral development banks – must take bold, innovative, and expeditious action to close it.”

via Project Syndicate

Africa Is More Resilient Than You Think

“Despite apocalyptic predictions, Africa may be better positioned than many think to weather the combined shock of the COVID-19 pandemic, collapsing commodity prices, and global economic recession, assuming its leaders act wisely. While African economies’ performance has varied, overall progress during the last two decades has made the continent more resilient than ever before.”

via Project Syndicate

Education Is Crucial to Africa’s COVID-19 Response

“Education is one of the largest and most consequential government activities in Africa, and policymakers and aid agencies ignore it at the continent’s peril. Indeed, by continuing to support education during the pandemic, governments can strengthen their countries’ immediate COVID-19 response and long-term recovery.”

via Project Syndicate

Africa’s Hour of Need

“African governments urgently need additional external financing to help them mitigate the pandemic’s economic impact. And with global interest rates as low as they are now, it is hard to think of a more opportune time to make such a commitment to Africa.”

via Project Syndicate

Saving the Developing World from COVID-19

“Advanced economies, in particular, should supplement the home bias that has (understandably) characterized their responses so far with a broader assessment of the global effects, including spillovers to and spillbacks from Africa. They should expand official funding assistance, facilitate broader debt relief, and urgently establish an international solidarity fund which other countries and the private sector could join.”

via Project Syndicate