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

Danny Cassimon and George Mavrotas

Africagrowth Agenda, 2021, vol. 18, issue 1, 4-9

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.

Date: 2021
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