Shabtai
@velvetart
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MBA (Tar Heel). Likes: Charts & whiskey.
Joined November 2008
It was a nice weekend. Graduated from @kenanflagler with my MBA with academic honors. Two of my favorite @UNC professors presided over ceremony- Dean Jennifer Conrad who taught us finance classes and Associate Dean Sriram Venkataraman from our pricing course. #GDTBATH
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Gearing up for the very real possibility that every single New York team, across every major sport, will have a horrible season. Except the Bills, on a technicality. And tennis! We won the US Open in Ny… wait , hearing that’s not how this works. Anyway
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Instagram blocked my account for violating community guidelines. I’ve never posted anything on Instagram. Ever.
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And when I say above that "it's been dumb" I want to especially thank this website. Truly, the most helpful website, but also hours and hours of dumb. Incredible.
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My time in journalism has come to an end. 🫡 Bringing down the shingle and hanging up my boots. Might lock down this account or simply stop posting as I move to a new phase in life. Please, keep in touch. This is what I posted on the professional social site.
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It’s odd that folks continue to attribute Turkey’s escape from low income to Erdogan as if he had a special plan. The era of his rule, globally, is one of growth and the rise to middle income. GDP per capita below is Philippines, not tr, to show trend. It’s the same most places
Brain drain IS Turkey's middle-income trap. The country spends $ 15,000 to train a physician, thousands of which have left the country recently. While Erdogan has moved Turkey from poor to middle-income category, the citizens who can make it a rich, advanced economy are leaving🇹🇷
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...there’s hardly any solar panel in the US or pretty much anywhere else that’s “clean”, not to mention made completely with fair labour practices, given the dominance of China in the market. https://t.co/0JzceZoxwD
ft.com
Getting rid of carbon and forced labour in clean energy supply chains is costly but necessary
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To conclude, here's the ADB/AFDB press release https://t.co/htrigCt9uA And Chris' excellent work at ODI on the risk transfers https://t.co/ppMEFltmTN All mistakes here- my own.
odi.org
AfDB’s innovative Room2Run deal with private insurers and UK’s FCDO highlights opportunities as well as questions about MDB risk transfer, argues Chris Humphrey
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Of course a capital increase is politically messy. And that's without even getting into the question of increasing purely concessional lending, which will require even larger budget outlays by donor countries. https://t.co/TDCo7fm8mH
devex.com
Nine experts say multilateral development bank reform is possible — at a cost.
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Finding lending headroom is great, provided that the MDBs don't end up subsidizing the private sector who would end up reaping the gains without really taking risk. Still though, most experts would argue to really increase development lending, the banks need a capital increase.
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But here is a very recent example of the AfDB's so-called Room2Run with the UK. The two water projects in Egypt and Senegal are worth about $130 million. The UK's guarantee scheme creates more lending headroom, as explained in the PR here: https://t.co/Di9mFUwLUV
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There is also an obvious question that if MDB loans are very safe, what exactly is the private sector taking fees for - the risk of default is really low. So there is a chance the the multilaterals end up subsidizing investors - which is not ideal.
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One thing to consider, and Humphrey raises this in his ODI piece, is that if the multilaterals start to work on a greater scale of originate-to-sell, then the preferred creditor status of the MDBs could be eroded. The PC status is vital to the lenders' business model.
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Various risk transfer ideas are proposed within the G20 CAF report from 2022. The report gave the private sector risk transfer proposal a "medium-high" complexity rating and estimated it would take a couple of years.
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The sovereign exposure exchange deal - a synthetic instrument - boosts lending capacities, as it reduces risk, particularly of over concentration. AfDB set up risk transfer deals with the private sector too, helped by the Brits (taking chart from Chris Humphrey at ODI) 2/
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Two regional development lenders agreed a $1 billion risk-transfer agreement. The new move between the African Development Bank (AfDB) and the Asian one (ADB) is not exactly a new - ADB has done it twice with the Inter American Development Bank. But it's still a notable swap 1/
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