By Kavaljit Singh | Briefing Paper # 52 | April 5, 2022
On March 30, 2022, the International Monetary Fund published the Review of the Institutional View on the Liberalization and Management of Capital Flows. The review updates the IMF’s Institutional View (IV), adopted in November 2012, followed by guidance notes on capital flows added in April 2013 and December 2015. The IMF’s Institutional View is an important policy document because it provides an analytical framework for the Fund’s policy advice on liberalizing and managing capital flows.
By Kavaljit Singh | Commentary | February 24, 2022
The news that a newly launched UN-backed climate exchange-traded fund is on the verge of closing due to insufficient capital has disappointed many who expected such financial market instruments to mobilize new sources of private capital in alignment with sustainable development and bridge the financing gap for the UN’s 2030 Agenda and Sustainable Development Goals (SDGs).
Launched with much fanfare at the UN Climate Change Conference (COP 26) on November 3, 2021, the Impact Shares MSCI Global Climate Select ETF…
In her Union Budget 2022 speech on February 1, Finance Minister Nirmala Sitharaman announced the issuance of sovereign green bonds during the upcoming fiscal year. “As a part of the government’s overall market borrowings in 2022-23, sovereign green bonds will be issued for mobilizing resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy,” Ms. Sitharaman stated. Several Indian non-financial corporations have issued a variety…
By Kavaljit Singh | Briefing Paper # 51 | January 28, 2022
This week, all eyes were on the Federal Open Market Committee (FOMC) meeting of the Federal Reserve, as financial markets and policymakers worldwide awaited the outcome of the committee’s deliberations. The FOMC concluded its deliberations on Wednesday with the release of a policy statement and a virtual press conference by Federal Reserve Chairman Jerome Powell.
Based on its deliberations, the FOMC signaled its willingness to accelerate plans to wind down monetary policy stimulus announced in response to the…
By Kavaljit Singh | Briefing Paper # 50 | January 21, 2022
As the COVID-19 pandemic enters its third year, emerging market economies will continue to struggle to improve their financial resilience in the face of numerous domestic and global headwinds. The emergence of new virus variants like Omicron serves as a stark reminder that the COVID-19 pandemic is far from over, and it could jeopardize the economic recovery prospects of both emerging and advanced economies.
First identified in Botswana and South Africa in November 2021, the highly-contagious Omicron variant is already…
