Implications of Ghana’s New Middle-Income Status – Todd Moss
Ghana’s recent recalculation of its GDP led to an overnight $500 per capita jump, putting in motion unexpectedly rapid graduation from the International Development Association (IDA) and ultimately a new relationship with the World Bank. In this week’s Wonkcast, I speak with Todd Moss, vice president for programs and senior fellow at CGD, about his recent trip to the newly categorized lower-middle income country, the implications of IDA graduation, and a sudden influx of oil wealth.
On Saturday the world’s newest nation exuberantly celebrated its first independence day. The Republic of South Sudan, an area the size of Texas that is home to eight million people, has finally fulfilled its long-sought goal of freedom and self-determination. Independence however, is just the beginning.
Every year, billions of dollars are spent on food assistance to provide lifesaving sustenance to millions of people. That’s a lot of money, and an important cause, so it was encouraging to learn last week that the United States and the G-20 are starting to seriously scrutinize food aid policy. Recent developments in Washington and Paris show a growing consensus that it’s about time to overhaul outdated approaches to feeding the hungry.
Leaders from around the world meet in New York City next week to review progress towards the
With high deficits across the developed world, aid budgets are tight and likely to remain so. However, a simple change in how the World Bank organizes its lending could free up an extra $7.5 billion for the world’s poorest countries over the next three years.