This page brings together research, dialogues, and expert interviews from the Global Governance Innovation Platform (GGI) on sovereign debt, credit ratings, World Bank governance, and innovative finance for development.
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Reforming the International Debt Architecture for Development
In this interview for the Global Governance Innovation Platform (GGI), Dobrina Poirier examines how rising borrowing costs and increasingly complex creditor structures are constraining developing countries’ ability to invest in development. She discusses the challenges of sovereign debt restructuring and the need for reforms to the international debt architecture, including the Borrowers’ Platform, a member-led initiative that gives developing countries a space for peer learning, technical cooperation and greater coordination.
Dobrina Poirier, Economic Affairs Officer, United Nations Trade and Development (UNCTAD)
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Publications
Governance Developments Shaping Sovereign Credit Assessments
Sovereign credit ratings shape the cost and availability of capital for developing economies. This brief looks beyond rating agencies’ methodologies to the wider institutional environment that determines how sovereign risk is assessed.
Read brief →Foundations for a Multilateral Sovereign Debt Mechanism
The global sovereign debt architecture is increasingly seen as outdated, fragmented and ill-equipped for today’s debt crises. This report reviews renewed momentum for a multilateral sovereign debt restructuring mechanism and the design options on the table.
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Fostering Partnerships between DC and New York for Development Financing and Multilateralism
UNU-CPR’s Dr. Michael Franczak joined partners in New York and Washington, DC to advance debt sustainability and multilateral cooperation ahead of the Fourth International Conference on Financing for Development (FfD4).
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A Survey of Designs for a New Global Sovereign Debt Mechanism
This roundtable explored decades of proposals and institutional models to strengthen the global sovereign debt architecture, reflecting on gaps, lessons and options for a more predictable, equitable and reliable system.
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Rethinking Global Debt: Reforming the International Financial Architecture
UNU-CPR experts joined the Helsinki Symposium to explore practical and politically viable solutions for a more equitable global financial system, focusing on sovereign debt governance and multilateral reform.
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Understanding the Promise and Purpose of World Bank Shareholding Reviews
UNU-CPR and the World Bank co-organized a “Deep Dive” on the World Bank Group’s five-yearly Shareholding Reviews, which are central to the Bank’s governance and have helped strengthen the voice of developing countries.
View event →GGI Videos
The Evolution of Innovative Finance for Development
Barry Herman traces how the meaning of innovative finance for development has changed over time, from early proposals for international taxation such as the Tobin tax to securitisation, capital markets and blended finance, and considers its limits.
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