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ISSN (Print) 1996-7845

ISSN (Online) 2542-2081


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Postal address:  11 Pokrovsky Boulevard, Moscow, Russia, 109028
National Research University Higher School of Economics
International Organisations Research Journal (IORJ) editors office

Actual addressOffice 308, 33, Profsoyuznaya street, bld. 4, Moscow, 117418


Tel.+7 495 772-95-90 ext. 23150 

E-mail: iorj@hse.ru

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Alexandra Morozkina1,2
  • 1 Financial Research Institute, Ministry of Finance of the Russian Federation, 3 b.2 Nastasyinsky Lane, Moscow, 127006, Russia
  • 2 HSE University, 20 Myasnitskaya Ulitsa, Moscow, 101000, Russian Federation

Economic Vulnerability and International Development Assistance: Aid Allocation in 2020–2022

2024. Vol. 19. No. 3. P. [issue contents]

The COVID-19 pandemic and sanctions against Russia greatly influenced the global economy, including developing countries. The first part of this article explores the main macroeconomic trends in emerging economies, including the decline of economic growth rates after the shocks of 2020–22, dynamics of external debt, government deficit, unemployment, and inflation.

The hugely increased financing needs of developing countries against the background of financial constraints requires a fine adjustment of the development assistance allocation system, especially from multilateral agencies. The second part of this article highlights the current situation in terms of usage of economic vulnerability as one of the criteria for allocation of concessional finance. This includes the most relevant experience of the Caribbean Development Bank and its concessional body, the Special Development Fund.

The absence of economic vulnerability as one of the criteria for aid allocation in most of the institutions increases risks for the global economy as a number of vulnerable countries have an increasing financing gap. The third part of article evaluates potential financing allocation based on economic vulnerability andbrings to a conclusion that most of the vulnerable developing countries are underfinanced by multilateral organizations.

Support from the Research Program of the Faculty of World Economy and International Affairs at HSE University is gratefully acknowledged

This article was submitted on 01.04.2024
Citation: Morozkina A. (2024) Economic Vulnerability and International Development Assistance: Aid Allocation in 2020–2022. International Organisations Research Journal, vol. 19, no 3, pp.  (in English).
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