Multilateral institutions and the global financial system are on a transformative journey aimed at confronting the dual challenge of climate change and sustainable development. This multifaceted agenda involves substantial improvements to the governance structures of multilateral development banks, the redefinition of objectives and targets, and the creation of innovative financial instruments to mobilise both public and private capital for investments in climate and development. However, the journey is far from over, and many questions remain unanswered.

In this episode of Development Futures, Alexandre Dayant speaks with Clemence Landers, a senior policy fellow at the Center for Global Development. Together, they discuss ongoing reform efforts, explore innovative solutions to maximise the impact of MDBs, and analyse the implications of the US–China competition within the reform landscape. What steps can MDBs take to optimise their financial resources, and how can they navigate the potential trade-offs between climate and development financing? These are just a few of the questions covered in this wide-ranging discussion.

See omnystudio.com/listener for privacy information.

After a decade of foreign aid cuts, deprioritisation, and then securitisation, Australia finally has a new international development policy that aims to return development to the heart of Australia’s international statecraft. Leading that charge is Australia’s Minister for International Development and the Pacific, the Hon Pat Conroy. 

In this episode of Development Futures, Minister Conroy sits down with Roland Rajah, the director of the Indo-Pacific Development Centre at the Lowy Institute, to share his thoughts on what the new policy means. How will Australia’s development program be rebuilt? What is the relationship between development and geopolitics? What will the role of governance work and civil society be? Beyond the traditional aid program, will Australia increase its impact investment and clean energy financing to Southeast Asia, and can it still lend responsibly in the Pacific? And what will be Australia’s approach to reform of the multilateral system? These questions and more are covered in this wide-ranging discussion.

See omnystudio.com/listener for privacy information.

The Group of 20 Common Framework was established in October 2020 as stress in sovereign debt levels of low-income countries began to emerge. However, the Framework is yet to substantially deliver on its objective of providing relief to those countries.

Mariza Cooray, Senior Economist at the Lowy Institute’s Indo-Pacific Development Centre, discusses the Common Framework and the broader debates on issues in sovereign debt reform with experts Ugo Panizza and Mitu Gulati.

Together, they explore why the Framework has failed, given the modern creditor landscape, whether the ongoing emerging market debt crises are as serious as those in the 1990s, the appetite for a global bankruptcy court, odious debt, and other policy issues that prevent the progress of a more inclusive sovereign debt architecture.

See omnystudio.com/listener for privacy information.

The Green Climate Fund – the largest climate fund in the world – is seeking a new cash injection by donors in October 2023. But it's not all smooth sailing. Alexandre Dayant, the Deputy Director of the Indo-Pacific Development Centre, discusses a recent Lowy Institute policy brief with two of the authors, Georgia Hammersley and Roland Rajah. Together, they explore the key challenges hampering the Fund's efficiency, propose several reforms, and spotlight Australia's potential role in helping realise them.

See omnystudio.com/listener for privacy information.