Asia-Pacific, the Gigantic Domino of Climate Change

By Vitor Gaspar and Chang Yong Rhee Forget the poetic flap of a butterfly’s wings in Beijing causing rain in Central Park. Climate issues in Asia-Pacific are measured in superlatives. The world’s biggest population. Two of the three largest carbon dioxide-emitting countries and the largest share of emissions globally. The most exposed to extreme weather […]

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A New Vision for the US Climate Agenda

By Ian Parry Over the next decade, global greenhouse gas emissions need to be cut by 25– 50 percent to be on track for meeting the 2015 Paris Agreement goal of containing global warming to 1.5–2°C. The United States intends to do its part. Its climate plan pledges US carbon neutrality by 2050, with a […]

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Why Climate Change Vulnerability Is Bad for Sovereign Credit Ratings

By Serhan Cevik and João Tovar Jalles Climate change has made the world a riskier place. The destruction wrought by heatwaves, droughts, hurricanes, and coastal flooding doesn’t stop with the toll on human lives and livelihoods—it can also have deep consequences for a country’s finances. Recent IMF staff research has found that a country’s vulnerability […]

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What is Really New in Fintech

By Arnoud Boot, Peter Hoffmann, Luc Laeven, Lev Ratnovski The financial industry is undergoing rapid technological change. Traditional banks face competition from online start-ups with no physical branches. Social media and other digital platforms are expanding into payments and credit. The increase in demand for digital services triggered by COVID-19 is turbo-charging this transformation. The […]

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