The imminent departure of Donald Trump from the White House has raised the question of the role that Joe Biden will play as the leader of the single largest shareholder in the multilateral financial institutions. These include the International Monetary Fund, World Bank Group and the regional development banks. Leading analysts told me there are grounds for optimism over enhanced debt relief for the poorest countries, recapitalisation of many IFIs and further action on the climate change agenda. The article is here.
Phil helped organise the coverage by the magazine GlobalMarkets of the annual meetings of the IMF and World Bank that were held in October 2020. First the first time the meetings had to be held virtually because of the coronavirus. This means that the newsroom existed only on Microsoft Teams with editors and journalists reporting from various locations. We had to learn how to interact with the organised events through virtual platforms. The newspaper was published as a PDF rather than printed and distributed manually
He wrote two features analysing key issues that came up at the meetings of the finance ministers and central bankers of the 187 member countries. The first looked at the how two institutions have responded to Covid-19 and how their leaders, Kristalina Georgieva at the IMF and David Malpass at the Bank, have kep the multilateral flames alive (here); the second looked at how central banks have looked at changing their strategies in the face of unexpected consequences of their extraordinary and unconventional policy responses here.
He also wrote a number of news stories including: a call for the World Bank toi use a special purpose vehicle to deliver shareholders’ cash to help relieve poor countries of their debt obligations to the bank (here); and a warning from criticis of the IMF that fund is pushing countries to impose austerity measures as part of their bailout funds here.