5⃣ And it is also dangerous for our external creditors as this "extend & pretend" game will only lead to bigger haircuts when the eventual reckoning comes. We have seen this around the world time and time again.

6⃣ In its heart, the IMF also knows from all its experiences that it is far better to bite the bullet now&organize a coordinated debt relief package that involves all creditors doing their fair share. This is what happened in 2000. It must happen again & we mustn't waste it again

7⃣ It is not just a China issue. Pretending it is will only deliver partial debt relief. It will still require impossible austerity and invite social turmoil. The stakes are high. And the hour is getting late. Let us hope all stakeholders can read the room.

Global economic growth appears to be steadying but at lower levels than before the pandemic. The poorest economies face punishing debt service, constricting trade, and costly climate events. —Indermit Gill Read the #GEP2024 ➡️wrld.bg/V2RR50Snyua

The Bretton Woods institutions are 80 years ago this week but no longer fit for purpose. Video on how to fix it based on my 2022 book with Richard Kozul-Wright Jayati Ghosh Joseph E. Stiglitz Jose Antonio Ocampo Dani Rodrik

Good ⁦IMF⁩ reform agenda by ⁦Barry Eichengreen⁩. One thing missing is need to reform fiscal consolidation as one size fits all problems ⁦Jayati Ghosh⁩ ⁦Joseph E. Stiglitz⁩ ⁦Bretton Woods Proj.⁩ theguardian.com/business/artic…

We need to reform the global financial architecture to meet our climate and development needs: ⁦⁦Kate Hampton⁩ to China ⁦CCICED⁩ cciced.eco/climate-govern…

Is Kenya the Canary in the Sovereign Debt Coal Mine? How a Revamped US Debt Strategy Could Help globalpolicyjournal.com/blog/23/07/202…

Just a reminder to smile

💡NEW report with SACREEE + SADC-DFRC, Tsitsi Musasike Kevin P. Gallagher Jiaqi Lu + coauthors highlight the inadequacy of prefeasibility facilities for expanding renewable energy + energy access in the Southern African Development Community region: gdpcenter.org/46tm6Sz

Tim Walz Knows China. That’s Good for the US bloomberg.com/opinion/articl…

💡 Despite abundant renewable energy sources, the total contribution of solar + wind energy is still low in the Southern African Development Community. A new joint report explores the role of prefeasibility facilities in expanding access: gdpcenter.org/4dkz33D

🌍 Marina Zucker-Marques Kevin P. Gallagher + Uli Volz argue in a report that debt relief is urgently needed for at least 47 economically vulnerable emerging market + developing economies to maintain debt sustainability while investing in climate + development: gdpcenter.org/3M7KCiG

Looking forward to hosting Prof. Stiglitz BU Experts. Please come join!

For the coming #FOCAC summit, my 3 things to look out for: 🌲Green investment (renewables, NEVs) and finance will be major themes 💸 Financing pledges: how big and where? Role for Afr PDBs? 🤝 Handshakes and milestones announced on debt restructuring Listen below 👇

So Proud that Kelly Sims Gallagher Named New Dean of The Fletcher School ⁦Kelly Sims Gallagher⁩ now.tufts.edu/2024/08/28/kel…

Featuring research from Kevin P. Gallagher Yan Wang + others, our latest round-up pulls together our research on 🇨🇳China's economic engagement with Africa, as leaders gather in Beijing ahead of the FOCAC summit. Read more: gdpcenter.org/4e2qRox

💡NEW report with SACREEE + SADC-DFRC, Tsitsi Musasike Kevin P. Gallagher Jiaqi Lu + coauthors highlight the inadequacy of prefeasibility facilities for expanding renewable energy + energy access in the Southern African Development Community region: gdpcenter.org/4cJpKZK

Rich countries tilt the scales when it comes to aid via Financial Times on.ft.com/3X7hInZ

The African debt dilemma: unpacking the three unfavourable factors odi.org/en/insights/th…