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Begin New Search Political Geography South America Content Type Policy Brief Publishing Institution Centre for International Governance Innovation

1. Lending to Defaulters: The IMF Updates Its Lending into Arrears Policy

Author:
Gregory Makoff
Publication Date:
08-2022
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The International Monetary Fund’s (IMF’s) “lending into arrears” policy outlines the criteria used by the IMF in deciding whether to loan to a country in default. This policy brief focuses on one of the conditions a country must meet when seeking debt relief from the IMF: it must engage in good faith negotiations with its creditors (known as the good faith criterion). The country must also implement significant financial reforms and provide assurances that it will be able to meet its financial obligations. This policy brief looks at the history of the lending into arrears policy, the controversy surrounding its use during Argentina’s 2005 debt restructuring and the May 2022 update to the policy.
Topic:
Economics, International Cooperation, Finance, and IMF
Political Geography:
Argentina and South America

2. Increasing Access to Medicines: Leveraging Brazil’s Experience

Author:
Erika Malich and Sarah Marion
Publication Date:
07-2015
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The second CIGI Graduate Fellows policy brief examines Brazil's success in ensuring access to essential pharmaceuticals for its citizens, and how this success can be leveraged for other developing countries in similar circumstances. Five unique factors underlie this success, including, among others, a sustained government commitment to public health systems and an indigenous capacity to produce pharmaceuticals domestically, the emergence of a civil society coalition built around the norm of health equity, and the international harmonization of quality assurance and clinical standards related to pharmaceutical research and development. While it is unlikely that other developing countries lacking indigenous manufacturing capacity can achieve similar results in the near to medium-term future, it is instead recommended that private foundations and large bilateral aid country providers invest in a global funding mechanism. This fund would use pre-existing, innovative financing mechanisms to scale up production in the handful of developing countries that have achieved near self-sufficiency in pharmaceutical production, for the benefit of populations beyond their borders.
Topic:
Health Care Policy
Political Geography:
Brazil, South America, and Latin America