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Reposted by Marina Zucker Marques

Tim Hirschel-Burns @timhirschelburns.bsky.social · May 17

For @chinagsproject.bsky.social, @marinazucker.bsky.social + I wrote on the need for IMF governance reform, the China-sized elephant in the room, and how there are workable routes to reform—if members are committed to preserving the IMF's legitimacy
chinaglobalsouth.com/analysis/no-...

No More Time to Waste: The Imperative to Strengthen Global South Voice and Representation at the IMF

By Tim Hirschel-Burns and Marina Zucker-Marques The International Monetary Fund’s (IMF) governance is increasingly out of step with today’s world. While emerging market and developing economies (EMDEs...

chinaglobalsouth.com

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Reposted by Marina Zucker Marques

Tim Hirschel-Burns @timhirschelburns.bsky.social · May 7

NEW from @marinazucker.bsky.social and me in @chinagsproject.bsky.social.

The IMF hasn't agreed a shift in quotas (and thus voting power) since 2010, leaving it way out of step with today's world.

We outline a strategy to break out of political gridlock + increase the Global South's representation

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Marina Zucker Marques @marinazucker.bsky.social · Apr 29

One more double standard on IFA. If you are MDB with rich shareholders, your claims is out of the parameter. But claims from South-led institutions - that should be strengthened and supported - are included in the parameter? www.reuters.com/world/africa...

Battle over 'baby multilaterals' may trap Zambia, Ghana in longer debt default

Ghana and Zambia battled their way to debt restructuring deals with their primary creditors last year, but simmering disagreements over two key African banks could keep them in default for longer than anticipated, hampering their economic recoveries.

www.reuters.com

Marina Zucker Marques @marinazucker.bsky.social · Apr 29

This Spring Meetings made one thing clear: the IMF must reform its governance or risk losing legitimacy and becoming less effective in addressing global financial challenges.

Maia Colodenco, Florencia Asef Horno, and I outline ways to boost EMDE voice and representation in the Fund

Summary below 👇

Tim Hirschel-Burns @timhirschelburns.bsky.social · Apr 14

🚨 ATTENTION ALL IMF NERDS 🚨

This new paper from the center is, in my biased opinion, THE paper for figuring out the way forward on IMF quotas.

The current quota formula is flawed and politically infeasible. A package of reforms including a new formula is needed
www.bu.edu/gdp/2025/04/...

The IMF’s 17th General Review of Quotas Needs a New Formula to Deliver on Development | Global Development Policy Center

www.bu.edu

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Marina Zucker Marques @marinazucker.bsky.social · Apr 21

It’s that time of year!

If you’re in DC for the WB/IMF Spring Meetings, don’t miss this event TOMORROW apr. 21st 3PM

W/ fresh papers that address the impact of debt on development prospects in Africa + more

Not in DC? Join us online! t.co/mLoTlbc68i
@gdp-center.bsky.social

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Marina Zucker Marques @marinazucker.bsky.social · Apr 7

We propose 3 fixes:

1. Widen eligibility for debt suspensions

2. Replenish the CCRT, including via IMF gold sales

3. Expand broader crisis finance without austerity
w/ @kofi1.bsky.social and @rishirbhandary.bsky.social

@gdp-center.bsky.social

Marina Zucker Marques @marinazucker.bsky.social · Apr 7

CRDCs only cover Small States (<2.8M people). Myanmar has 55M.

And the CCRT is underfunded, with just $107mn

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Marina Zucker Marques @marinazucker.bsky.social · Apr 7

🧵 The tragic earthquake in Myanmar has exposed deep flaws in how global financial institutions respond to disasters. A 7.7 magnitude quake, 3,400+ dead—and yet, key IMF and WB tools remain out of reach.

Red Cross aims to raise $100 mn aid
Myanmar will pay $170 mn to IMF + $95mn to WB

Disaster-Triggered Financing Mechanisms Must Provide More Relief for Myanmar | Global Development Policy Center

www.bu.edu

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Marina Zucker Marques @marinazucker.bsky.social · Apr 6

"What a week, huh?"....."Captain, it is Sunday"

Financial Times @financialtimes.com · Apr 6

US stock futures tumble as officials offer no respite from tariffs

https://www.ft.com/content/c2c10cca-bc11-457c-a505-d11b37ac987f

US stock futures tumble as officials offer no respite from tariffs

Declines come after the worst week for Wall Street equities since the pandemic

www.ft.com

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Marina Zucker Marques @marinazucker.bsky.social · Apr 6

China's response: ”As the second largest economy and second largest market for consumer goods, China is committed to opening ever wider to the world, no matter how the international situation change [...]And we will share our development opportunities with the world to achieve mutual benefits."

Chinese Government’s Position on Opposing U.S. Abuse of Tariffs

www.mfa.gov.cn

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Marina Zucker Marques @marinazucker.bsky.social · Apr 3

www.bloomberg.com/news/article...

Trump Tariffs Are ‘Disaster’ for the World’s Poorest Countries

President Donald Trump’s new reciprocal tariffs are set to hit some of the world’s poorest nations the hardest, putting their labor-intensive export industries at risk and diminishing one of the US’s ...

www.bloomberg.com

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Marina Zucker Marques @marinazucker.bsky.social · Mar 31

IMF financial statements here www.imf.org/en/Data/IMF-...

Marina Zucker Marques @marinazucker.bsky.social · Mar 31

In 2025, Myanmar will pay 130mn SDRs= $170 mn to the IMF

CCRT normal limit is 20% of quota (103 mn SDRs= $134 mn) but countries can benefit beyond this threshold in some cases www.imf.org/external/np/...

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Marina Zucker Marques @marinazucker.bsky.social · Mar 31

The US Geological Survey's modelling estimates Myanmar's death toll could exceed 10,000, with losses surpassing annual economic output." www.bbc.com/news/article...

CCRT qualification criteria for natural disasters: damage deemed to exceed 100 percent of GDP www.imf.org/en/About/Fac...

International Monetary Fund

imf.org

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Marina Zucker Marques @marinazucker.bsky.social · Mar 31

CCRT replenishment is urgent

When gold $2600, @rishirbhandary.bsky.social
and I estimated just 4% of gold could replenish and expand the CCRT. Today it is at $3120

Gold sales could fund a CCRT endowment, with proceeds sustainably subsidizing relief www.bu.edu/gdp/2024/11/...

A Golden Opportunity: Selling a Small Share of the IMF’s Gold Reserves to Replenish the Catastrophe Containment and Relief Trust | Global Development Policy Center

www.bu.edu

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Marina Zucker Marques @marinazucker.bsky.social · Mar 31

Our broken financial architecture

Myanmar’s disaster (est. cost >100% GDP) qualifies it for IMF relief via the CCRT

But CCRT funds, w/ just 81 mn SDRs aren't enough to cover the 103 mn Myanmar could request- 20% of their quotas

Meanwhile, IMF sits on $282bn in idle gold

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Reposted by Marina Zucker Marques

Kevin Gallagher @kevinpgallagher.bsky.social · Mar 21

The International Financial Architecture and Sustainable Prosperity. My new paper for @UNUWIDER www.wider.unu.edu/sites/defaul...

www.wider.unu.edu

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Marina Zucker Marques @marinazucker.bsky.social · Mar 3

É pra comemorar sim! É clima de copa do mundo sim!

Marina Zucker Marques @marinazucker.bsky.social · Feb 27

Today, 8 former presidents from Africa have made public their call for debt relief

Kevin Gallagher @kevinpgallagher.bsky.social · Feb 27

African leaders calling for deep and comprehensive debt relief debt-leaders.org/about/statem...

Statements — African Leaders Debt Relief Initiative

debt-leaders.org

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Reposted by Marina Zucker Marques

Kevin Gallagher @kevinpgallagher.bsky.social · Feb 14

Time to speak up about Africa’s debt crisis, new piece with @marinazucker.bsky.social blogs.lse.ac.uk/africaatlse/...

It’s time to speak up about debt in Africa

Through no fault of their own, Africa is facing a debt crisis

blogs.lse.ac.uk

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Reposted by Marina Zucker Marques

Kevin Gallagher @kevinpgallagher.bsky.social · Jan 30

Escape from Washington before it’s too late! Come join our communications team: www.bu.edu/gdp/about-us...

Careers | Global Development Policy Center

www.bu.edu

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Marina Zucker Marques @marinazucker.bsky.social · Jan 24

@bancocentralbrasil.bsky.social released the 2024 BoP data
Brazil recorded a $16.7 BILLION outflow via crypto purchases, or 17% of the capital and financial account and 0.76% of GDP. Those concerned with forex stability & BoP vulnerabilities must pay attention to this new channel for outflows

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Reposted by Marina Zucker Marques

Kevin Gallagher @kevinpgallagher.bsky.social · Jan 8

New article with @marinazucker.bsky.social and others on Africa’s chronic debt predicament. Time for HIPc 2.0: track.smtpsendmail.com/9032119/c?p=...

Debt Distress and Climate-Resilient Development in Sub-Saharan Africa

Abstract. Due to multiple external shocks since the outbreak of COVID-19 in the world economy, SSA is facing acute debt distress and new highs in the cost

track.smtpsendmail.com

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Marina Zucker Marques @marinazucker.bsky.social · Dec 8

It was a pleasure to talk with Mahieash Johnney on Sri Lanka's State of the Nation (at Ada Derana) to discuss the recent @gdp-center.bsky.social policy brief on selling IMF gold to fund the Catastrophe Containment and Relief Trust

www.youtube.com/watch?v=hWfL...

State of the Nation | Episode - 43

YouTube video by Ada Derana English

www.youtube.com

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Reposted by Marina Zucker Marques

Daniel Munevar @danielmunevar.bsky.social · Dec 4

Net negative transfers on external public debt in middle and low-income countries continued in 2023. Public sectors in these countries paid more to creditors than they received in fresh funding. Multilaterals are providing net positive flows, while private creditors continue to drain resources.

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