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Begin New Search Topic Governance Content Type Policy Brief Publication Year within 5 Years

51. The ABCs of Sovereign Debt Relief

Author:
Rakan Aboneaaj, Jocilyn Estes, and Clemence Landers
Publication Date:
10-2022
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
We are living in a time when many countries face heightened debt vulnerabilities. Already high before the pandemic, debt levels reached a 50-year peak following the growth in government spending to combat COVID-19. Debt is not inherently bad; borrowing can allow countries to finance vital government investment. But unsustainable levels of debt can have devastating consequences for a country’s population, crowding out government spending on even basic necessities including food, medicine, and fuel imports. In Sri Lanka, for example, 71 percent of government revenue was spent on debt service before the country defaulted. Even where the tradeoff is not so dire, unsustainable debt service can limit productive investments in infrastructure, education, healthcare, and other sectors, hampering the economic growth necessary to reduce a country’s debt burden. After a decade-long period of low borrowing costs, a confluence of rising interest rates, inflation, and commodity shocks have raised the likelihood of overlapping debt crises in developing countries. The International Monetary Fund (IMF) now estimates that 30 percent of emerging market countries and 60 percent of low-income countries could face trouble paying down their debts or will soon. There is no international bankruptcy mechanism for countries that default on their external obligations. Instead, countries have historically depended on a patchwork of precedents, contracts, and conventions to bring creditors to the table for debt relief negotiations. The United States has a legacy as the lead architect of large global debt relief initiatives, from the Brady Bond plan for Latin America to the Heavily Indebted Poor Countries (HIPC) Initiative that kickstarted debt relief for poor countries in the 1990s. However, the global creditor landscape has changed significantly over the past decade. Low-income sovereigns’ largest creditors today—China and private bondholders—operate under much different principles than the leading bilateral creditors of the past, making the traditional norms and structures less effective for present debt challenges. The objective of the international financial architecture—historically overseen by the IMF and its shareholders— will be to corral these new creditors into a cooperative arrangement to deliver on debt relief.
Topic:
Debt, Development, Governance, Credit, and Sovereign Debt
Political Geography:
Global Focus

52. Breakthrough to Policy Use: Reinvigorating Impact Evaluation for Global Development

Author:
Julia Kaufman, Amanda Glassman, Ruth Levine, and Janeen Madan Keller
Publication Date:
07-2022
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
In 2006, when a CGD working group published its report When Will We Ever Learn? Improving Lives Through Impact Evaluation, very few social programs benefitted from studies that could determine whether they actually make a difference. Since then, there has been tremendous progress in harnessing better evidence to inform public policy decision making, especially from impact evaluations of programs in low- and middle-income countries. Impact evaluation is a rigorous approach that establishes the attributable net impact of a project or program, making it uniquely well suited to inform decision making about resource allocation, program design, and scale up or drawdown. But the COVID-19 pandemic put a spotlight on an unfinished agenda, underscoring the need for high-quality, timely, and context-specific evidence. The pandemic has demonstrated the cost in lives and livelihoods when policymakers make decisions based on incomplete or outdated evidence and data. Approximately 15 million more deaths took place in 2020 and 2021 than would have occurred in the absence of COVID-19, and cumulative economic losses from the pandemic are expected to reach 13.8 trillion. Given the potential real-world benefits, why have decision makers within governments, aid agencies, multilateral organizations, and NGOs not yet fully harnessed the value of evidence—including from impact evaluations—for better public policies? Looking ahead, how can the development community renew momentum and broaden bases of support for impact evaluation and the wider evidence agenda? In response to these questions and building on progress to date, CGD launched the Working Group on New Evidence Tools for Policy Impact. The working group aimed to develop a renewed agenda for investments in impact evaluation and related evidence systems to enhance their value for policy use. It brought together a diverse group of policymakers and experts to review recent progress and examine how to address remaining obstacles to the use and utility of evidence for global development, with a focus on impact evaluation. This brief summarizes the final report of the working group. The report collates resources and insights on progress in implementing and using impact evaluations for decision making and proposes five ways to improve impact evaluation funding and practice, directed to the development community—government policymakers; other multilateral, bilateral, and philanthropic funders; researchers, and NGOs
Topic:
Development, Governance, Leadership, NGOs, and Impact Evaluation
Political Geography:
Global Focus

53. The Future of the European Financial Architecture for Development

Author:
Mikaela Gavas
Publication Date:
05-2022
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
In “The European Financial Architecture for Development: evolution or revolution,” Mikaela Gavas sets out the current European Development finance landscape, explaining the key players involved and highlights the challenges with the current systems, and underlines the importance of the EU and its various instruments.
Topic:
Regional Cooperation, Governance, European Union, and European Parliament
Political Geography:
Europe

54. Opportunities for Increased Multilateral Engagement with B3W

Author:
Conor M. Savoy and Shannon McKeown
Publication Date:
05-2022
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
As the world continues to rapidly digitize and grapples with the short- and long-term impacts of climate change, new forms of innovative and resilient infrastructure are increasingly necessary. The estimated $3.3 trillion annual gap in infrastructure investment cannot be paid for with official development assistance (ODA) alone but will require significant private sector financing and local government resources. A coordinated, multi-stakeholder effort that includes governments, the private sector, and civil society is needed to leverage all available resources and funding to address these challenges as well as implement the UN quality infrastructure agenda.2 G7 countries—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—have recognized the need for a global infrastructure plan that responds to the problems of today and proactively plans for the issues of tomorrow. In June 2021, the G7 unveiled the Build Back Better World (B3W) initiative, which seeks to leverage the private sector for $40 trillion in infrastructure investment by 2035 under the initiative’s four pillars: (1) healthcare, (2) gender equality and equity, (3) climate and environment, and (4) digital technology. The initiative also includes several economic and trade provisions to promote greater connectivity and allow countries to benefit from this investment. The B3W strategy is designed to be inclusive and rely upon input from a whole spectrum of local organizations, donors, and recipient countries to define an infrastructure strategy, projects, and implementation priorities. The guiding principles of B3W include value-driven high standards, transparency, climate-compatible projects, private sector investment, and a commitment to multilateralism. B3W shares standards with and builds upon two previous initiatives: the Blue Dot Network (BDN) and the Better Utilization of Investment Leading to Development (BUILD) Act. BDN is a U.S.-led effort that certifies infrastructure projects against robust criteria and environmental, social, and governance (ESG) standards. The BUILD Act is a bipartisan bill that created the U.S. Development Finance Corporation (USDFC) to introduce private sector investment in low- and lower-middle-income countries. These two initiatives have thankfully laid the groundwork for B3W’s objectives and principles. Given the initiative’s infrastructure focus, B3W is being positioned as an affirmative alternative to other state-directed infrastructure financing models, such as China’s Belt and Road Initiative. Its emphasis on good governance, consideration of environmental and social impacts, and adherence to transparency is meant to draw a stark contrast with other models that involve more questionable labor and environmental standards, alleged corruption, and murky debt financing. B3W has an opportunity to distinguish itself as an important alternative through high standards and the buy-in of multilateral partners and stakeholders. The United States can be the driving force of this engagement through its unique ties to the UN system, including being the largest member country donor. Partnering with specialized UN agencies, committees, and related entities that work in the various B3W pillars will (1) make B3W more of a legitimate initiative with a greater global collaboration; (2) better position B3W projects to succeed with the right resources, networks, and capital; and (3) fill the knowledge and resource gap from the private sector.
Topic:
Infrastructure, Governance, Multilateralism, and Transparency
Political Geography:
Global Focus

55. Space Threat Assessment 2022

Author:
Todd Harrison, Kaitlyn Johnson, Makena Young, Nicholas Wood, and Alyssa Goessler
Publication Date:
04-2022
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
Welcome to the fifth edition of Space Threat Assessment by the Aerospace Security Project at the Center for Strategic and International Studies. Over the past five years, this assessment has used open-source information to track the developments of counterspace weapons that threaten U.S. national security interests in space. The United States has relied heavily on its space infrastructure since the first satellites were launched to track and monitor nuclear missile launches during the Cold War. Over the past six decades, the United States has grown more reliant on the information, situational awareness, and connectivity provided by military, civil, and commercial space systems. It should be no surprise that these assets are a target for adversaries attempting to gain asymmetric military advantage. The Space Threat Assessment is critical to understanding the changing nature of the space domain and monitoring trends in space and counterspace weapons.
Topic:
Security, Military Strategy, Governance, and Space
Political Geography:
North America and United States of America

56. Access to Housing: A Right Not an Investment

Author:
Nizar Aouad
Publication Date:
06-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Over the past two years, the housing situation in Lebanon has deteriorated so drastically that it has been nearly impossible for many population groups to secure adequate and sustainable housing options, given the sharp increase in rental prices, weak tenure rights, and rising socio-economic inequalities. This policy brief looks into the housing situation in Lebanon and its impact on members of the LGBTQIA+ community. It highlights that the LGBTQIA+ community is among the most affected by Lebanon’s housing crisis due to their historic exclusion by the government and society; the lack of protective policies affecting access to housing rights and alienating LGBTQIA+ individuals and their needs; arbitrary eviction threats, discrimination based on physical appearance, and physical and emotional violence; and no recourse to justice in cases of violations due to state-sponsored violence against queer bodies. The paper makes recommendations on how the Government of Lebanon, donors and the international community, and civil society organizations can help ensure that members of the LGBTQIA+ community are able to live without fear of violence and exercise their right to housing in an equitable way.
Topic:
Governance, Discrimination, Violence, LGBT+, and Housing
Political Geography:
Middle East and Lebanon

57. Dangerous Delay 2: The cost of inaction

Author:
Emily Farr, Leah Finnegan, Joanna Grace, and Mathew Truscott
Publication Date:
05-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
In 2011, Somalia experienced a devastating famine that killed over a quarter of a million people. Afterwards, leaders in the region made a commitment to end drought emergencies by 2022. The international community sought to ensure that there would be no repeat of the failures that led to famine. Next time, the world would heed the warnings and act early to avoid the crisis. But despite various warnings and alarms over the past two years, the commitment to anticipatory action has proven half-hearted. We are once again responding too late and with too little to avert the crisis. In this follow-up to their 2012 briefing A Dangerous Delay, Oxfam and Save the Children, supported by the Jameel Observatory, examine what has changed and what has not in the humanitarian system since 2011. They explain how it must evolve in order to enable and fully fund anticipatory action. With the climate crisis set to deepen, the current system must change quickly in order to meet the challenges we face in the years ahead.
Topic:
Security, Famine, Governance, and Humanitarian Crisis
Political Geography:
Africa and Somalia

58. Turning Point: A three year update on US supermarkets’ progress and pitfalls

Author:
Hana Ivanhoe and Art Prapha
Publication Date:
04-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Since the outbreak of COVID-19, the global landscape of the food retail industry has dramatically shifted. There is now greater awareness of how wealth and gender inequalities have been exacerbated; the power of workers in the United States (US) has been awakened; the vulnerability of global supply chains has been exposed; big retailers are competing in technology adoption; investors are demanding environmental, social and governance (ESG) information; and there has been legislative advancement towards mandatory human rights due diligence (HRDD) law. Amidst these increasing pressures, major US supermarkets have continued to delay urgent actions needed to end exploitation of workers, women and farmers in their supply chains and retail operations. Key gaps include the lack of commitment to adopt a robust HRDD approach, lack of policies on workers’ rights at home and abroad, and the non-existence of gender policy in their business model. Failure to act now will result in irreversible impacts on workers, farmers and women – impacts that pose major risks to business continuity and supply chain resilience.
Topic:
Labor Issues, Governance, Business, Private Sector, and COVID-19
Political Geography:
North America and United States of America

59. Rising to the Challenge: The case for permanent progressive policies to tackle Asia’s coronavirus and inequality crisis

Author:
Emma Seery
Publication Date:
01-2022
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Asia remains in the grip of a coronavirus crisis that is supercharging already high levels of inequality. While the richest and most privileged can protect their health and increase their wealth further, the pandemic is putting the lives and livelihoods of the region's poorest and most vulnerable people at risk. Women, poor and low-skilled workers, migrants and other marginalized groups are being hit hardest. But it is not too late to turn the tide. Governments must make this the moment to implement permanent progressive policies that put the needs of the many before the profit and extreme wealth of the few.
Topic:
Labor Issues, Governance, Pandemic, and COVID-19
Political Geography:
Asia

60. The failure of global public health governance: a forensic analysis

Author:
Jean Pisani-Ferry, Anne Bucher, and George Papaconstantinou
Publication Date:
02-2022
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
COVID-19 has underlined that in a context of recurring pandemics, public health is a basic global public good, the provision of which presupposes effective and timely collective action at global level. It has exposed the limitations of the prevailing framework. This Policy Contribution positions global public health governance in the wider debate on the reform of international governance arrangements. It distinguishes between the ‘before’ phase of pandemic preparedness, characterised by ‘denial and neglect’; the first phase (‘addressing the outbreak’), with scientific cooperation and an uncoordinated response to the outbreak; the second phase (‘responding and containing’), with a scaling up of testing, but also competition for scarce equipment and slow development of tests; the third ‘protecting’ phase, with the exceptional development of new vaccines but also rival vaccine diplomacy; and the final ‘exit’ phase, with ramping up of vaccine distribution, but also a glaring failure to vaccinate poor countries. In the evolution of global governance arrangements in different policy areas, six ingredients have been important, and two were clearly present in public health: joint identification of the problem, and shared expertise, as demonstrated especially in the scientific and institutional response. This was much less the case with two others: common action principles, and transparent reporting mechanisms. Finally, there have been significant problems with the last two ingredients: there is no accepted outcome-evaluation process to assess results and adapt instruments, while trust issues continue to hamper the work of the World Health Organisation. The decision to work towards a new pandemic treaty should be assessed against the reform agenda of global health security governance. Four proposals can be made. The WHO should be turned it into a strong and independent standard-setting and surveillance authority for preparedness, prevention, and response, while existing institutions and initiatives should be streamlined and consolidated to better provide essential medical supplies globally. Meanwhile, a G20-type body should be established to provide leadership and ensure a whole-of-government approach that repositions global health governance in the world order and puts it on par with economic interdependence or financial stability in terms of governance, institutional backing and resources. Adequate funding should be provided through a self-standing fund to address the shortfalls COVID-19 has revealed in preparedness of national health systems, detection and containment, and shortages and misallocations of critical medical supplies.
Topic:
Governance, Public Health, COVID-19, and Forensic Science
Political Geography:
Global Focus