Publications

BY UGO PANIZZA Geneva Graduate Institute & CEPR This policy note delves into the complex world of state-contingent debt instruments, focusing on Value Recovery Instruments (VRIs) and the significant challenges associated with their issuance, particularly their asymmetric structure. "In theory,...

An Updated Bridge Proposal: Towards A Solution to the Current Sovereign Debt Crises and to Restore Growth BY Ishac Diwan, Martin Guzman, Martin Kessler, Vera Songwe, and Joseph E. Stiglitz. The Finance for Development Lab (FDL) and Columbia University's Initiative...

A powerful instrument, for specific contexts WHAT ARE D2S? Amidst growing liquidity challenges and mounting debt burdens, governments have to forego some of their priorities, especially when they represent long-term commitments, such as sustainability investment. Debt-To-Sustainability Swaps (D2S) have become a popular...