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Development Finance in the Post-COVID-19 Era: Implications, Challenges and Opportunities

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  • Danny Cassimon
  • George Mavrotas

    (University of Antwerp)

Abstract

The current pandemic has already substantial negative effects on poverty, and on the financing gap to meet the Sustainable Development Goals, both by reducing domestic revenue mobilisation while increasing the needs as well as through falling availability of external financing sources. In the absence of a clear ex-ante architecture to deal with such unprecedented shocks, some ad-hoc shorter-term responses are being launched ‘as we go’. However, there is a historic opportunity to turn these ad hoc initiatives into appropriate more permanent mechanisms, while allowing also debates on the reform of the IFIs to address some remaining flaws in the global set up of development finance.

Suggested Citation

  • Danny Cassimon & George Mavrotas, 2021. "Development Finance in the Post-COVID-19 Era: Implications, Challenges and Opportunities," Africagrowth Agenda, Africagrowth Institute, vol. 18(1), pages 4-9.
    • Handle: RePEc:afj:journ2:v:18:y:2021:i:1:p:4-9
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-afgrow-v18-n1-a1
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    References listed on IDEAS

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    2. B. Mak Arvin & Byron Lew (ed.), 2015. "Handbook on the Economics of Foreign Aid," Books, Edward Elgar Publishing, number 15762.
    3. Mavrotas, George (ed.), 2010. "Foreign Aid for Development: Issues, Challenges, and the New Agenda," OUP Catalogue, Oxford University Press, number 9780199580934, Decembrie.
    4. Leach, Melissa & MacGregor, Hayley & Scoones, Ian & Wilkinson, Annie, 2021. "Post-pandemic transformations: How and why COVID-19 requires us to rethink development," World Development, Elsevier, vol. 138(C).
    5. Andrew Mold & Sebastian Paulo & Annalisa Prizon, 2009. "Taking Stock of the Credit Crunch: Implications for Development Finance and Global Governance," OECD Development Centre Working Papers 277, OECD Publishing.
    6. Danny Cassimon & Dennis Essers & Karel Verbeke, 2018. "Sovereign Debt Workouts: Quo Vadis?," Africagrowth Agenda, Africagrowth Institute, vol. 15(3), pages 4-8.
    7. Cassimon, Danny & Essers, Dennis, 2013. "A chameleon called debt relief," IOB Working Papers 2013.01, Universiteit Antwerpen, Institute of Development Policy (IOB).
    8. Ogunniyi, Adebayo Isaiah & Mavrotas, George & Olagunju, Kehinde Oluseyi & Fadare, Olusegun & Adedoyin, Rufai, 2020. "Governance quality, remittances and their implications for food and nutrition security in Sub-Saharan Africa," World Development, Elsevier, vol. 127(C).
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    Cited by:

    1. Makoza, Frank, 2024. "Unpacking assumptions on social democratic developmental state in the Malawi Vision 2063: A critical approach," EconStor Preprints 285317, ZBW - Leibniz Information Centre for Economics.

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