Special Report No. 11
By Piyush Verma, Medha Prasanna, and Sarah Salah
By Udaibir Das
If the governor is the last port of call, choosing one is not a staffing decision. The question is no longer who is senior or who is loyal, but who can fight a fire, who can say no and whose word the market will trust at three in the morning. Independence can be hollowed without being repealed. The clause reads perfectly while the substance is gone.
Background Paper No. 38
By Jeffrey D. Bean and Dhruva Jaishankar
By Udaibir Das
Drawing on the public sector balance sheet literature, the economics of sovereign self-insurance, and the Knightian distinction between risk and uncertainty, this paper argues that conventional sovereign asset-liability management is necessary but incomplete.
By Udaibir Das
As concessional finance declines, vulnerabilities mount and aid priorities shift, vulnerable low-income countries must increasingly rely on domestic sources of funding. Efficient capital markets are not a luxury – they are foundational infrastructure for economic growth.
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