Viet Nam, one of the fastest growing economies in the world in the past two decades, is aiming to become a high-income country by 2045. The role of capital markets, as a key element of a financial system...
This paper forms part of a series of publications under the Global Program on Sustainability (GPS). The series is a knowledge product of GPS Pillar 3 with the objective to promote the use of high-quality...
This paper proposes a new relative evaluation and benchmarking framework for performance linked financing instruments. It argues that the carrots and sticks of sustainability-linked bonds should not use...
This paper discusses both the relevance of economic and social rights (ESRs) for environmental, social, and governance (ESG) investing in the sovereign debt asset class and how to start incorporating these...
Global and domestic factors shape a country’s Fiscal and Monetary Policy Space (FMPS). In response to the COVID-19 crisis, many countries adopted unconventional measures to expand policy space, including...
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
This White Paper considers the problem of corporate debt overhang and discusses the policy tools to address it. Corporate debt overhang describes the scenario in which a company’s debts are so great that...
This White Paper considers the problem of corporate debt overhang and discusses the policy tools to address it. Corporate debt overhang describes the scenario in which a company’s debts are so great that...
An ongoing challenge with Environmental, Social, and Governance (ESG) efforts is access to robust data. In response, commercial data providers are continually developing solutions to improve insight. Here...
The increasing role of the financial sector in the move toward a more sustainable economic model continues apace. The Coronavirus (COVID-19) shock shone a light on the need for all society to correct course...
This guidance note was prepared by International Monetary Fund (IMF) and World Bank Group staff under a project undertaken with the support of grants from the Financial Sector Reform and Strengthening...
This guidance note was prepared by International Monetary Fund (IMF) and World Bank staff under a project undertaken with the support of grants from the financial sector reform and strengthening initiative...
With more than 40 trillion dollars of funds under sustainable management, environmental, social, and governance (ESG) investing is no longer niche investing, including in emerging market (EM) sovereign...
Climate risks are on the rise globally. For emerging market countries such as Chile, these risks can manifest as an increased propensity for drought, wildfires, flood events, and landslides. As a result...
Environmental, social, and governance (ESG) investing is quickly becoming ordre du jour in sovereign debt investing. There remains, however, lack of clarity around frameworks for scoring sovereign ESG...
The world is on an unsustainable path. Financial sector participants are becoming more conscious of the impact of their economic, social and environmental footprint. As the investor community makes progress...
This paper conducts a simple stress test to gauge the ability of listed nonfinancial corporates to withstand shocks to earnings and receivables. It targets two basic accounting ratios that capture a firm’s...
At the Cannes Summit in 2011, the G20 launched an initiative to prepare an action plan for the development of local currency bond markets (LCBMs). Since then, the IMF and the World Bank have produced brief...
The COVID-19 pandemic adds further challenges to the development of capital markets. For many emerging markets and developing economies challenges have intensified because of (i) the deterioration in the...