- 02/10/2023
- Otros
Our most recent research offers concrete solutions for developing countries navigating the post-pandemic landscape. We propose innovative public debt strategies and tailor-made fiscal and financial instruments to tackle critical challenges. These solutions range from general guidelines for redesigning existing tools to specific recommendations for financing:
- Post-pandemic recovery: Our research equips policymakers with the tools to navigate the economic complexities of rebuilding.
- International climate commitments: We provide clear pathways for meeting Nationally Determined Contributions and long-term climate strategies within fiscal constraints.
- National goals for inclusion, sustainability, care, and gender equality: Our findings promote policies that advance social progress alongside fiscal responsibility.
To tackle the intricate linkages between debt, fiscal policy, sustainability, and inclusion, our research focused on three key workstreams:
- Debt management and fiscal policy for sustainable development: This workstream delves into responsible debt management strategies that support long-term growth and stability.
- Taxation, climate change, and equality: We explore how fiscal policies can drive climate action while promoting equitable outcomes.
- Incentives and productive transformation: This workstream identifies fiscal tools that encourage economic diversification and sustainable development.
Our research empowers policymakers with practical solutions to build a more resilient and equitable future for developing countries.
Our research goes beyond LAC working with African centers and beyond national borders, seeking to solidify regional and global cooperation against the backdrop of public debt dynamics, climate change crisis and reduced policy space for developing countries.
Dive into the findings of "Restructuring Public Debt for Socioeconomic Recovery and Sustainability in Africa and Latin America," a comprehensive research project with practical solutions for navigating the post-pandemic landscape. All 20 knowledge products – 14 working papers and 6 policy briefs – are now available for free download here. Regional working papers are offered in both Spanish and English, LAC country’s case studies are published in Spanish, while the remaining research is published in English.
Spearheaded by the South American Network on Applied Economics (Red Sur) with the support of the International Development Research Centre (IDRC) and collaboration from research institutions across Africa and Latin America, this project delves into the specific challenges faced by Ethiopia, Nigeria, Uganda, Bolivia, Honduras, and Paraguay.
Through in-depth studies, the research proposes alternative policy models for managing public debt in the wake of the pandemic. These models introduce innovative fiscal tools aligned with countries' commitments under the Sustainable Development Goals (SDGs) and the Paris Agreement on climate change. Ultimately, these solutions aim to foster inclusive economic recovery and drive a green structural transformation in the Global South.
The Working Papers produced on debt, equality and climate change in Latin America are 4 and they are the following:
We aim to pinpoint shared challenges and empower capacity building related to debt's impact on gender equality, care and environmental outcomes. Within the G20 framework, we've contributed two policy briefs exploring the global ripples of alternative debt management strategies and their influence on sustainability in developing countries. You can download these Policy Briefs from the following links:
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Number |
Title |
Authors/Institution |
|---|---|---|
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Policy Brief No 1/2022 |
G20 Policy Brief Indonesia 2022. Policy Proposals for External Debt Management and Sustainability in Developing and Low-Income Countries TF7 - International Finance and Economic Recovery |
Fernando Lorenzo (Centro de Investigaciones Económicas), Luis Miguel Galindo (Universidad Nacional Autónoma de México), Ramiro Albrieu (CIPPEC), Dionisio Borda (Centro de Análisis y Difusión de la Economía Paraguaya), Paul Lakuma (Economic Policy Research Centre), Mma Amara Ekeruche, Alemayehu Geda (Addis Ababa University), and Arjan de Haan (IDRC) |
|
Policy Brief No 2/2023 |
English: LAC Policy Brief “Results and Policy Implications in Latin America” Spanish: Resultados e Implicaciones de Política del Proyecto en América Latina |
Miguel Galindo (UNAM), |
|
Policy Brief No 3/2023 |
Public Debt, the Energy Transition, and Sustainable Development: Global South perspectives for the G20 |
Ramiro Albrieu (Red Sur) |
Research centers conducting national case studies in LAC are Fundación ARU (Bolivia), Centro de Análisis y Difusión de la Economía Paraguaya (CADEP- Paraguay), and in Honduras Sergio Sánchez and Gerson Urtecho produced the research in coordination with Red Sur. Research centers conducting national case studies in Africa are:
- Nigeria: Centre for the Study of the Economies of Africa (CSEA)
- Uganda: Economic Policy Research Centre (EPRC)
- Ethiopia: Institute of Development Policy Research (IDPR) and the Department of Economics of the Addis Ababa University (AAU)
Uncover insights from our country's case studies! Explore the Red Sur Working Papers and Policy Briefs covering debt, climate, and more, available at www.redsudamericana.org and presented here:
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Number |
Title |
Authors/Institution |
|---|---|---|
|
Policy Brief No 4/2023 |
Getnet Alemu and Alemayehu Geda (Addis Ababa University/AAU) |
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Policy Brief No 5/2023 |
Policy Brief II - Ethiopia: Fundamental and Proximate Drivers of Public Debt in Ethiopia (1980-2023) |
Alemayehu Geda and Addis Yimer (Addis Ababa University/AAU) |
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Policy Brief No 6/2023 |
Addis Yimer and Alemayehu Geda (Addis Ababa University/AAU) |
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Working Paper No 5/2023 |
Estudio País: Construyendo un Futuro Sostenible en Bolivia (in Spanish) |
Omar Velasco, Wilson Jiménez, Josué Cortez and Diego Peñaranda (Fundación ARU) |
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Working Paper No 6/2023 |
Estudio País: Construyendo un Futuro Sostenible en Honduras (in Spanish) |
Gerson Urtecho, Sergio Sánchez and Luis Miguel Galindo (UNAM) |
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Working Paper No 7/2023 |
Estudio País: Construyendo un Futuro Sostenible en Paraguay (in Spanish) |
Dionisio Borda, Juan Cresta, Fernando Masi, Fernando Ovando, Belén Servin (CADEP/Red Sur) |
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Working Paper No 8/2023 |
Effects Of Gender-Inequality During Global Health Emergencies: Evidence from Nigeria |
Centre for the Study of the Economies of Africa (CSEA) |
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Working Paper No 9/2023 |
Centre for the Study of the Economies of Africa (CSEA) |
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Working Paper No 10/2023 |
Centre for the Study of the Economies of Africa (CSEA) |
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Working Paper No 11/2023 |
Sustainable, Inclusive and Environmentally Responsive Debt in Uganda: Implication of COVID 19 |
Economic Policy Research Centre (EPRC) |
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Working Paper No 12/2023 |
Profile of Ethiopian Debt and Its Institutional Challenges: An Exploratory Analysis |
Getnet Alemu and Alemayehu Geda (Addis Ababa University/AAU) |
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Working Paper No 13/2023 |
Fundamental and Proximate Drivers of Public Debt in Ethiopia |
Alemayehu Geda and Addis Yimer (Addis Ababa University/AAU) |
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Working Paper No 14/2023 |
A Two-Edged Sword: The Impact of Public Debt on Economic Growth: The Case of Ethiopia |
Addis Yimer, African Child Policy Forum (ACPF) and Department of Economics Addis Ababa University (AAU) and Alemayehu Geda, Addis Ababa University (AAU) |
These publications and research wouldn't exist without the incredible spirit of collaboration. Researchers from both Africa and Latin America joined forces, fueled by global and triangular dialogues with key partners from Canada, Europe and MENA, to bring you these insights through advocacy and global dissemination efforts carried around the following milestones and global policy spaces prioritized by the project:
- T20 and G20 (2022, 2023 and to be continued in 2024)
- ECOSOC Forum on Financing for Development (April 2022)
- Global Development Network - GDN (2022)
- ERF 29th Annual Conference (2023)
- ERF and Financing for Development Lab webinars (2023)
Global spaces where the project was presented:
- Resilience to shocks and pathways to recovery: Perspectives from the Global South, ERF hybrid event, Oct. 10, 2023 in Marrakech, Morocco. The event was organized by ERF in collaboration with the IDRC, on the side of the annual meetings of the World Bank Group and the International Monetary Fund (IMF) in Morocco in October 2023. It convened about 25-30 participants in a hybrid format that allowed other participants to join online and participate in the discussion.
- Webinar Public Debt and the Environment', 2 October, 2023, ahead to the 2023 Annual Meetings of the World Bank Group and the International Monetary Fund (October 9 - 15 in Marrakech, Morocco) Livestream on Youtube. On October 2, experts from African and Latin American countries contributed with their local perspectives to the global south view on the prospects for public debt and the environment, summarizing the results of the project "Restructuring Public Debt for socioeconomic recovery and Sustainability in Africa and Latin America" (AVAILABLE HERE). It was Livestream on Youtube (in English) and held in English and Spanish via Zoom with open participation to the public.
- Webinar > Growing Out of Debt: On 4 July 2023, the work was brought together in an ERF organized online Webinar, with FDL, Red Sur, and IDRC: ‘Growing Out of Debt: Perspectives from Developing Countries Around the World’ to present findings from this research, highlight tensions and trade-offs generated by the debt difficulties across the countries studied, and explore policy recommendations from a Southern perspective.
- ERF 29th Annual Conference "Embarking on a Path of Renewal: MENA Commission on Stabilization and Growth – Insights into More Hopeful Directions", organizado por la Universidad Nile de Nigeria. May 4, 2023. Ramiro Albrieu, Senior Researcher at Red Sur, participates in the Middle East and North Africa Regional Conference "Stabilization and Adjustment: Towards Inclusive and Sustainable Policies in MENA" held on May 3, 2023 prior to the ERF 29th Annual Conference, presenting the cases of the IDRC - Red Sur project "Restructuring Public Debt for Socio-economic Recovery and Sustainability".
- IDRC session at the GLOBAL DEVELOPMENT CONFERENCE (GDN), November 3, 2022, Clermont-Ferrand, France: A new fiscal instrument for debt crisis management. Red Sur presented the IDRC - Red Sur project "Restructuring Public Debt for Socio-economic Recovery and Sustainability" in IDRC session at the GLOBAL DEVELOPMENT CONFERENCE (GDN), November 3, 2022, Clermont-Ferrand, France: A new fiscal instrument for debt crisis management. In 2022, the Global Development Conference will focused on 'Tax Policy for Sustainable Development'. In 2022, the Global Development Conference focused on 'Tax Policy for Sustainable Development'. The conference targets 500 participants, drawn from a diverse group of researchers, evaluators, policymakers, representatives of international organizations, civil society, development practitioners and the private sector. The majority of the participants will be from developing countries.The event has the generous support of the French Ministry of Economy, Finance and Recovery and Agence Française de Développement (AFD).
- Forum on Financing for Development. Side event ECOSOC 2022. 27 April 2022, 08:00-09:30 EST (New York). Presentation ‘Rethinking public policy for debt relief that is sustainable and inclusive’. Register here to follow it live (broadcast from New York). The event followed the publication of the new Financing for Development report. The idea submitted was based on the proposal for the T20 PB, and jointly between the RedSur, ERF consortiums and Finance for Development Lab (FDL). This involved a presentation as scene setter, with the participation of Vera Songwe, followed by three national/regional presentations. Broadly, the event aimed to interest a large audience with the uniqueness of the IDRC-Red Sur Project "Restructuring Public Debt for socioeconomic recovery and Sustainability in Africa and Latin America" and to present concrete priorities at the initial stages of the research. The consortium shared the presentation ‘Rethinking public policy for debt relief that is sustainable and inclusive’ (Repensando las políticas públicas para un alivio a la deuda que sea sostenible e inclusivo).
Red Sur plans to amplify the impact of this project's findings through targeted engagement and advocacy in key spaces and processes throughout 2024 and 2025. Our focus areas include:
- G20 under Brazil's leadership: Red Sur applied to join the T20 International Advisory Council during Brazil’s G20 presidency and contribute to these milestones:
- January 2024: Partner with African research centers to produce a G20 policy brief summarizing key project results. Attend the T20 Brazil inception meeting in Rio de Janeiro.
- July 2024: Participate in the G20 policy brief mid-term discussion in Rio de Janeiro.
- November 2024: Present the final G20 policy brief at the T20 summit in Rio de Janeiro.
- UN Futures Summit (September 2024, New York): Participate in the preparatory process for this important UN General Assembly event.
- UN Tax Convention: Monitor the development of the new tax convention launched under the UN in November 2023.
- UN Resolution A/C.2/78/L.8 Implementation: Track the implementation roadmap for this resolution on external debt sustainability and development, adopted in November 2023 and engage with LAC governments.
- LAC SDGs Forum (April 2024, Santiago de Chile): Disseminate research findings through a parallel event.
- LAC Regional Fiscal Conference (under ECLAC): Present research findings.
- COP30 under Brazil's leadership (Belém): Engage in the preparatory process for this landmark climate change conference.
Last but not least, all this research was led by Red Sur within the Project "Restructuring Public Debt for socioeconomic recovery and Sustainability in Africa and Latin America", with the support of the International Development Research Centre (IDRC, Canada), under the leadership of Arjan de Haan. Project’s academic coordination was under the responsibility of a Technical Coordination team, led by Fernando Lorenzo (Centro de Investigaciones Económicas, CINVE/Red Sur), composed of Andrés López (IIEP-UBA-CONICET/Red Sur), Ramiro Albrieu (Red Sur), Luis Miguel Galindo (Universidad Nacional Autónoma de México, UNAM) and Álvaro Ons (CINVE/Red), with contributions from Cecilia Alemany (UN Women), Paul Okwi and Walter Ubal from IDRC.
** For additional project information, to coordinate interviews, please contact:
Carolina Quintana at cquintana@redmercosur.org
Red Sudamericana de Economía Aplicada/Red Sur
South American Network on Applied Economics/Red Sur
Twitter @Red_mercosur
Facebook: @RedSudamericana.org
Linked-In: @Red Sudamericana de Economía Aplicada