As low-income countries (LICs) need assistance to manage the effects of the COVID-19 crisis, the G20 can play an important role in providing short-term liquidity with a suspension of debt service payments and debt relief. However, debt relief should be bound to reforms, and LICs bear part of the responsibility … Read more
Stablecoins are an alternative digital currency that is pegged to a basket of traditional currencies and other assets. They are designed to address the shortcomings of first-generation cryptocurrencies in providing adequate monetary services. They represent a disruptor to the payment and finance industries in an era where offerings by technology … Read more
Amidst calls for debt relief to mitigate the socioeconomic consequences of COVID-19 in Africa, debt transparency has become an even more pressing issue. This paper assesses the key debt transparency initiatives promoted by international organizations and the private sector, given the June 2019 G20 Communiqué on the importance of improving … Read more
Despite the international consensus on the need to tackle illicit financial flows (IFFs), which materialized in the 2030 Agenda, the UN has not agreed on a method for keeping track of the issue. While the quantification of IFFs does not seem feasible, this paper argues that engagement against IFFs can … Read more
Digitalization is driving financial innovations and developing money, credit, and banking models across the world. New players, such as major technological companies (Big Tech), are entering finance with ambitious plans. In aggregate, these processes will entail increased competition and potential financial stability risks. In the context of emerging digital money … Read more
Efforts to monitor and regulate BigTech companies have been fragmented, both globally and across economic sectors. We advocate for a change in the regulatory paradigm to create a framework that will accommodate the different priorities of countries, support inter-jurisdictional coordination, and minimize the risk of regulatory fragmentation. In this policy … Read more
The COVID-19 pandemic has caused the postponement of the strategic reviews that major central banks were planning to use to redraw their policies and move toward a “new normal” that incorporated the lessons of their unconventional reactions to the Great Financial Crisis. Subsequently, these new exceptional times require new extraordinary … Read more
The COVID-19 pandemic has had a severe negative impact on the global economy. Coordinated and synchronized global fiscal and monetary stimulus programs are, therefore, vital to address the challenges brought on by the pandemic, from both short- and long-term perspectives. To achieve this, the G20 must develop a coordinated framework, … Read more
This Policy Brief is offered to the Saudi T20 process, as a recommendation to the G20 in 2020. A systemic agenda is needed to steer a risky transition process and reap the long-term benefits. Challenge Digitalization is reshaping society: the way we work and produce, relate with others, exchange … Read more
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