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Tag Archives: G20

A K-shaped recovery and the role of fiscal policy

The spine of the letter represents the fall in activity at the start of the pandemic. Then there is a split, which leads to the two ‘arms’ that capture the different directions taken by economic activity in different sectors. By: Maria Demertzis Date: March 2, 2021 Topic: European Macroeconomics & Governance This opinion piece was originally published in the Money Review Section of Kathimerini and is forthcoming in El Economista. The shape of the post-pandemic economic...

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How is the G20 tackling debt problems of the poorest countries?

The G20 Debt Service Standstill Initiative, although a partial success, has been dogged by competing interests and lack of coordination. A further push is needed to solve the coordination problem. In April 2020, the G20, at the urging of the International Monetary Fund and the World Bank, launched the Debt Service Standstill Initiative (DSSI) to mitigate the negative financial impact of COVID-19 in the world’s poorest countries at a time when the pandemic’s medical and economic consequences...

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COVID-19’s shock for emerging economies

COVID-19 is by far the biggest challenge policymakers in emerging economies have had to deal with in recent history. The pandemic is hurting emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital. Even if the pandemic will fade in the second half of the year, gdp in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF had forecast in October. In this episode we...

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From G7 to G20: passing three hot potatoes

Yesterday’s G7 video-conference ended in silence. It wasn’t even possible for the group to issue a joint statement after the US administration's push to enter into a blame game over the Covid-19 label. However, let’s not give up. There is one more chance today for global coordination: the G20 emergency video-conference hosted by Saudi Arabia. This is the opportunity for the G20 to stand out and overshadow the G7 and for the world to end up with some international policy coordination. The key...

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China’s view of the trade war has changed—and so has its strategy

The truce agreed on by China and the United States at the sidelines of the recent G-20 meeting in Buenos Aires doesn’t really change the picture of the U.S.’s ultimate goal of containing China. The reason is straightforward: The U.S. and China have become strategic competitors and will continue to be so for the foreseeable future, which leaves little room for any long-term settlement of disputes. This opinion piece has been published in Brink Thinking Strategically, Not Tactically...

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The world deserves a more effective G20

As the presidency shifts from Argentina to Japan at Buenos Aires (and then to Saudi Arabia) it is worth asking why the G20 has endured this long and what it needs to remain relevant in a dramatically changed world. This opinion has been published in: When the Group of Twenty (G20) leaders meet in Buenos Aires at the end of this month, it will be a decade since their first meeting in Washington. As the presidency shifts from Argentina to Japan at Buenos Aires (and then to Saudi Arabia)...

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Deep Focus: The G20 in a changing world order

In this episode of Deep Focus, Bruegel fellow Suman Bery joins Sean Gibson to elaborate on his recent Policy Contribution on the G20's performance over the past decade, and the forum's future prospects. In November 2008, the first G20 summit at the leaders’ level took place amid the global financial crisis. The admittedly ambitious undertaking has since played its role in stabilising the global economy throughout the aftershocks of the crash. Today, the global order looks much different...

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The G20 turns ten: what’s past is prologue

This Policy Contribution assesses the performance of the G20 since its first summit held in November 2008 to understand what could lie ahead for the institution. The first G20 leaders’ summit was held in Washington DC in November 2008. This Policy Contribution assesses the performance of this informal but influential institution since then to understand what could lie ahead. We focus on the coordination of national economic policies as this has been at the core of the G20 leaders’...

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Director’s Cut: How to reform and fortify the global financial system

Bruegel director Guntram Wolff is joined by Tharman Shanmugaratnam, chair of the G20 Eminent Persons Group, and Jean Pisani-Ferry, mercator senior fellow at Bruegel, for a conversation about the growth and stability challenges facing the global financial system, and how the system can be better equipped to deal with the significant and novel problems of the future. In this Director’s Cut of ‘The Sound of Economics’ Guntram Wolff is joined by Bruegel’s mercator senior fellow Jean...

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Should we give up on global governance?

While demand for global governance has not diminished, the same cannot be said about support for binding multilateral arrangements. Jean Pisani-Ferry analyses the recent setbacks and explores the potential strategies for global governance to better accommodate the diversity of players, provide for more flexibility and rely less on compulsion. By: Jean Pisani-Ferry Date: October 23, 2018 Topic: Global Economics & Governance...

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