The pandemic and the Ukraine crisis have elevated global debt levels to new heights, beyond the stress nations were already facing before the pandemic. According to the recent IMF World Economic Outlook, the debt-to-GDP ratio in the median emerging market and the middle-income country was about 60 percent in 2021, as compared to 40 percent in 2013 at the time of the taper tantrum. Similarly, for low-income countries, it was double the amount in 2021 as compared to 2013.
The recovery from the pandemic has been largely uneven due to inadequate access to essential healthcare. By 2021, only half of the WHO member states reached the target of vaccinating 40 percent of their populations, and only 10 percent of the population in low-income countries have received at least one dose of the vaccine. Given that countries have varying capacities in addressing health threats and unequal access to public goods, health financing will become crucial in overcoming future health threats.
The Russia–Ukraine war has led to resurfacing of concerns regarding the illicit use of crypto-assets and its impact on the global financial stability. The crypto-assets are evolving quickly, thus G20 should play a key role in the regulation of digital assets through close global coordination with standard-setting bodies. The regulation of the assets must ensure supervision that creates necessary conditions for safe innovation.
Jeremić and Schmidt-Traub: The continuation of the war in Ukraine will cause a world food crisis
"The war in Ukraine has deepened the existing crisis in the system of food production and
consumption, which is a consequence of the pandemic and reduced incomes, as well as climate
change. This has a dramatic impact on agricultural production around the world," said Schmidt-
Traub at the lecture. "How will the future reflect on agriculture, food and water", held as part of
CIRSD's "Future Leaders" program, whose participants include postgraduate students from all
over the world.
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Branko Milanović lectures at newly established Future Leaders Program
Professor Milanović led this insightful discussion on income inequality between and within nations, tracing the history of income inequality throughout the world from the industrial revolution to today.
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Vuk Jeremić lectures at the Academy of Young Diplomats
Reflecting on the influence of powerful global players in the Western Balkans, Jeremić pointed out that Brussels has abdicated its geopolitical role in the region, thus opening new space for other actors. He underlined that the influence of the Russian Federation and Turkey has been present for centuries, and that China is the only new variable in the equation.
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CIRSD President speaks at University Presidents meeting
The President of the Center for International Relations and Sustainable Development (CIRSD), Vuk Jeremić attended one of the biggest regional meetings of University Presidents from Asia, Europe and the Middle East, devoted to the University Sector’s support to the UN Decade of Action.
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