Here's how @POTUS can salvage both the global COVID19 recovery effort & the US global standing at same time. My latest in @Global_Policy breaks it down in 4 steps:

@BUPardeeSchool @Jonthn_Wheatley @sobel_mark @Morris_ScottA @Jayati1609 @AdilNajam

https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery

Step 1: Endorse a new @IMFnews allocation of Special Drawing Rights. Such a decision would come at no economic cost to the United States and bring great economic and political benefit.

https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery

Step 2: Trigger new concessional financing and grants to emerging market and development countries through the new @DFCgov, and through leadership on capital increases at @the_IDB, @WorldBank, & beyond.

https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery

Step 3: Pressure the private sector to engage. Biden could issue an executive order to limit the ability of private creditors from holding out on debt restructuring, like the UK did in the 1990s for HIPC.
https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery

Step 4: Link finance to a green & inclusive performance. Biden should endorse proposals like the one supported here by 23 FinMins & CBGs, where restructured/new debt would link to a green and inclusive recovery.

http://gdpcenter.org/DRGR 

The US played a big role in global debt build up that threatens global stability & Trump obstructed meaningful solutions at G20.

https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery

Biden should stand up and lead by example to put the world economy on a better path, restore US standing in the multilateral realm, and give the US the legitimacy to criticize others less willing to lead.

/end.

https://www.globalpolicyjournal.com/blog/27/01/2021/2021-time-us-leadership-multilateralism-and-sustainable-recovery