and @kevinpgallagher.bsky.social @debtjustice.bsky.social @cgdev.org @agelpern.bsky.social @theomaret.bsky.social @jzettelmeyer.bsky.social @veron.bsky.social

Could be of interest to
@mileskahler.bsky.social
@laynamosley.bsky.social
@rickyclark.bsky.social
@stefwalter.bsky.social
@danielmcdowell.bsky.social
@mcopelov.bsky.social
@jeffcolgan.bsky.social
@lipscy.bsky.social
@peterrosendorff.bsky.social
@marinazucker.bsky.social

It offers 8 recommendations, including w/r to threshold effects from income classification; political threats to sustainability; analysis of institutional strength; climate considerations; and Bank-Fund collaboration. DSAs cannot be perfect, but they should not be perceived as biased. RTs welcome.

Getting Debt Sustainability Analysis Right: Eight Reforms for the Framework for Low-Income Countries The pace of change in the global economy suggests that the IMF and World Bank could be ambitious as they review their debt sustainability framework.

My new paper has just been posted by the Global Governance program at Carnegie. Debt sustainability analyses, produced by the IMF and World Bank, critically determine financing to and debt restructuring needed from low-income countries. I examine their framework (LIC-DSF), currently under review.

We’ll discuss competitiveness, defense, competition, fiscal integration and EU autonomy. Should be of interest to @katemcnamara.bsky.social @erik-jones.bsky.social @rdanielkeleman.bsky.social @vanghel.bsky.social @manuelamoschella.bsky.social @waltraudschelkle.bsky.social

At #EUSA2025 many great panels on Europe in realignment, internally and externally. See our panel on the Draghi Report and Transatlantic Relations, Saturday, 8:30, Homer. With @ofioretos.bsky.social Amy Verdun, Mark Pollack, Matthias Matthijs, @jefeja.bsky.social

Germany’s parliament approves Friedrich Merz’s €1tn spending plan Chancellor-in-waiting uses outgoing Bundestag to loosen debt brake and unleash investments in defence and infrastructure

www.ft.com/content/8074...

www.ft.com/content/8074...

The end of an era in German economic policy and the beginning of a new one: Bundestag approves Friedrich Merz’s €1tn spending plan

The report solidifies two dueling narratives, one a diagnosis of illiquidity, the other of debt unsustain- ability, to play out in the coming months.

International Debt Report The World Bank’s International Debt Report features external debt statistics and analysis for low- and middle-income countries and information on new bond issuance in international capital markets.

WB 2024 debt report is now published. "[A] metastasizing solvency crisis .... continues to be
misdiagnosed as a liquidity problem in many of the poorest countries," writes Chief Economist Indermit Gill. www.worldbank.org/en/programs/...

So glad to find this debt starter pack on Bsky, and to be shifting the conversation here. Thankyou @kpatricio.bsky.social @upanizza.bsky.social

Should be of interest
@mileskahler.bsky.social
@laynamosley.bsky.social
@rickyclark.bsky.social
@stefwalter.bsky.social
@danielmcdowell.bsky.social
@mcopelov.bsky.social
@jeffcolgan.bsky.social
@lipscy.bsky.social
@peterrosendorff.bsky.social
@marinazucker.bsky.social
@kevinpgallagher.bsky.social

The IMF’s April 2024 Policy Reforms and Sovereign Debt Restructuring The Common Framework for Sovereign Debt Restructuring provides a process for easing debt burdens on low-income countries but has operated too slowly for the four countries that have so far sought reli...

Pleased to post new paper on IMF policy reforms and debt restructuring -- lending into arrears, financing assurances, etc. Tho complex, these changes hold the prospect of speeding lending to debtor countries, reducing financial losses, and socializing non-Paris Club creditors into the process.

@jfmorin.bsky.social @mileskahler.bsky.social @laynamosley.bsky.social @gbeaumier.bsky.social @erikvoeten.bsky.social @rickyclark.bsky.social @stefwalter.bsky.social @danielmcdowell.bsky.social @mcopelov.bsky.social @adreher.bsky.social @jeffcolgan.bsky.social @abenewman.bsky.social

#APSA2024 Panel on Thursday on the Evolution of International Regime Complexes, 2-3:30, Marriott Room 406, with Julia Gray, Ayse Kaya, Eugenia Heldt, Orfeo Fioretos, Mark Pollack and myself. We address how and why complexes adapt or fail to do so.

Could interest @jfmorin.bsky.social @mileskahler.bsky.social @laynamosley.bsky.social @gbeaumier.bsky.social @erikvoeten.bsky.social @rickyclark.bsky.social @stefwalter.bsky.social @danielmcdowell.bsky.social @mcopelov.bsky.social @adreher.bsky.social @jeffcolgan.bsky.social @abenewman.bsky.social

We heartily thank Alison Johnston, @hozic.bsky.social @RIPEJournal editorial team and our reviewers, especially our enormously constructive macroreviewer, whoever they might be!

We invite scholars to investigate similar dynamics in other of regime complexes, further develop measures of hierarchy and differentiation, examine accountability and legitimacy in complexes, and expand on our conjectures about the evolution of complexes over time.

Finally, I test the framework theory against three regional complexes for crisis finance in East Asia, Latin America and Europe, finding it generally holds. The single anomaly (adjustment in euro area) is explained by inter-institutional collaboration. www.tandfonline.com/doi/full/10....

Tyler Pratt argues that, when institutions are differentiated by value (benefits increase as rules become more rigorous), institutional overlap can actually increase policy adjustment, shown by election observation and carbon offsets. www.tandfonline.com/doi/full/10....

@stephofmann @patrykpawlak explore emergence of complexes in entirely new issue areas, focusing on cyberspace. Resourceful governments reconfigure policy frames in new/existing institutions to build coalitions, reducing differentiation. www.tandfonline.com/doi/full/10....

Rie Kijima and @lipscy.bsky.social examine education, arguing network effects and entry barriers configure inter-institutional competition, and finding that, when seeking change, powerful states introduce institutional overlap while weaker ones differentiate. www.tandfonline.com/doi/full/10....

@Mer29Eilstrup theorizes how complexes' architectures facilitate and constrain institutional development in an endogenous, path-dependent fashion, examining three critical junctures in the evolution of the complex for nuclear nonproliferation. www.tandfonline.com/doi/full/10....

Our framework article, coauthored with Tyler Pratt (@TPr47413111), theorizes the link btwn institutional hierarchy and differentiation ("architecture"), otoh, and policy adjustment, regime shifting/creation, otoh - tested by 6 articles in the collection. www.tandfonline.com/doi/full/10....

@stephofmann @patrykpawlak explore emergence of complexes in entirely new issue areas, focusing on cyberspace. Resourceful governments reconfigure policy frames in new/existing institutions to build coalitions, reducing differentiation. www.tandfonline.com/doi/full/10....

Rie Kijima and @lipscy.bsky.social examine education, arguing network effects and entry barriers configure inter-institutional competition, and finding that, when seeking change, powerful states introduce institutional overlap while weaker ones differentiate. www.tandfonline.com/doi/full/10....

International Regime Complexes Explore the article collection: International Regime Complexes. Published in Review of International Political Economy.

Very pleased to announce that our project on International Regime Complexity (summarized in this thread, poster earlier this week on X) is now fully published and openly available @RIPEJournal as a collection at www.tandfonline.com/journals/rri...

We are also interested in how and why international institutions collaborate among themselves or fail to do so. We especially invite proposals proposals that address democracies’ international collaboration, and collaboration’s impact on the quality, resilience and restoration of democracy.

For APSA2024, please consider submitting your panel or paper proposal to Division 17 International Collaboration. Submission deadline is January 17. Our division is concerned with a broad array of state and non-state cooperation. Please circulate!