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1. Opportunities and Challenges for Greater IFI-UN Collaboration Across Macroeconomic/FCV linkages

Author:
Marc Jacquand
Publication Date:
10-2020
Content Type:
Policy Brief
Institution:
Center on International Cooperation
Abstract:
In recent years, the International Monetary Fund (IMF), the World Bank, and the United Nations (UN) have increased their collaboration and strengthened their respective capacities to engage more effectively in fragility, conflict, and violence (FCV) contexts. Recent global developments, particularly the COVID-19 pandemic, point to the need to accelerate such efforts and deepen collaboration between these three institutions. Everywhere—including in high-income countries—political turbulence and contestation of traditional governance arrangements are increasing the stakes and impact of macroeconomic decisions, and now of pandemic response measures. This extremely challenging global landscape, where risks intersect with increasing virulence, is calling out for greater collaboration between the IMF, the Bank, and the UN, as the three institutions to which many countries that find themselves facing such crises often turn. This briefing by Marc Jacquand makes the case for increased collaboration on four levels: factual, financial, political, and counterfactual. It also lays out the challenges, both internal and external, that impede collaboration. Finally, it makes recommendations for institutional improvements to facilitate more effective joint work in FCV contexts.
Topic:
United Nations, Governance, Reform, Multilateralism, Crisis Management, IMF, and COVID-19
Political Geography:
Global Focus

2. COVID-19 and the IMF-World Bank Spring Meetings

Author:
Sarah Cliffe
Publication Date:
04-2020
Content Type:
Policy Brief
Institution:
Center on International Cooperation
Abstract:
The International Monetary Fund (IMF) and World Bank conducted their first virtual Spring Meetings amid the COVID-19 pandemic. This briefing summarizes the discussions, which focused on the economic impact of the pandemic, and provides key takeaways on topics such as debt relief, financing for COVID-19 response, multilateral partnerships, and efforts to support global supply chains. In this readout of the 2020 Spring Meetings, CIC director Sarah Cliffe details the historic—but ring-fenced—debt moratorium and accelerated financing deal that were reached, as well as efforts to inject more global financing through an exceptional issue of IMF Special Drawing Rights. The briefing also covers partnerships between the United Nations and the international financial institutions, including a call for collaboration on global supply chains for medical equipment, agricultural inputs, and other goods and services.
Topic:
Governance, Finance, Multilateralism, Crisis Management, Humanitarian Crisis, IMF, COVID-19, and Supply
Political Geography:
Global Focus