Building an Effective Sovereign Borrowers’ Club |
WASHINGTON, DC/CAIRO – One of the most promising ideas in the Seville Commitment (Compromiso de Sevilla), which heads of state and government adopted in July, is the creation of a platform for borrower countries, supported by existing institutions and facilitated by a United Nations secretariat. This simple but potentially transformative concept could shift the balance of information and influence, which has long favored creditors. By allowing borrower countries to discuss technical issues and debt challenges, access capacity-building assistance, and coordinate their actions, the platform would amplify their voice in the global financial system.
Anadolu/Getty Images Economics 1Make Russia Pay for Its War on Ukraine
Joseph E. Stiglitz & Andrew Kosenko explain why it is in Europe's interest to mobilize frozen Russian assets to ensure Ukraine's survival. Win McNamee/Getty Images Longer Reads