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CGD's weekly Global Prosperity Wonkcast, event videos, whiteboard talks, slides, and more.

The Global Implications of India's Microcredit Crisis (Event Video)

12/9/10

The largest crisis in the history of microfinance is now unfolding in India. After five years of growth so fast it has been described as “indescribable,” and after a lucrative initial public offering (IPO) by the leading firm, the government of the state of Andhra Pradesh has cracked down. Amid reports of microcredit-linked suicides, the state has urged borrowers to stop repaying, and millions have heeded the call. Bankruptcies of some of the world’s largest microcreditors are now a realistic possibility.

What is the reality of microcredit in India? Is the backlash an engineered campaign to protect a government-run (and World Bank–financed) finance program from private-sector competition? Or has the fast growth in credit ensnared the poor in debt? Some of each?

And what lessons does the crisis hold for actors worldwide, including microfinance institutions and investors ranging from the World Bank to Kiva users? When is microcredit—and investment in it—too much of a good thing?

Five CGD Experts on the Seoul G-20 Summit

11/8/10

G-20 SeoulG-20 leaders gathering in Seoul this week face a full plate of issues, most prominently the effort to stave off beggar-thy-neighbors currency devaluations. This week on the Global Prosperity Wonkcast, we've distilled highlights from a private briefing I organized where five CGD experts shared their views on key issues facing the G-20, and their implications for poor people not represented at the table. Snippets below—listen to the full 30-minute Wonkcast for the rest of the story or scroll to the bottom of this page for full event video. If you'd like a bit of historical background on the G-20 and how it came into its current role, listen to my introductory remarks (they're about 6 minutes long) that give some context for the rest of the discussion.

How the G-8 and G-20 Fared on Development: Liliana Rojas-Suarez & Sarah Jane Staats

6/28/10

Sarah Jane Staats and Liliana Rojas-SuarezLeaders of the world’s largest and richest countries met over the weekend in Ontario, Canada. What did they accomplish? This week on the Wonkcast, I’m joined by two guests: CGD Senior Fellow Liliana Rojas-Suarez and Director of Policy Outreach Sarah Jane Staats. We examine the statements released by the two groups—looking specifically at what they have to say about several key policy areas for global development.

Listen to the Wonkcast to hear our conversation. Among other topics, we discuss:

  • What President Obama’s G8 announcement on his administration’s development strategy means for the U.S. aid reform agenda.
  • The significance of the G20’s release of a set of principles for financial inclusion.
  • How the headline issues of financial stability and regulation might affect emerging countries.
  • What was said (and wasn’t said) in Toronto on expanding trade, especially for the world’s least developed countries.
  • What role an announced G20 Working Group on development might play in the run-up to the next G20 summit this fall in Seoul, South Korea.

Does the European Crisis Matter for Latin America? What Is the Appropriate Policy Response? (Event video and audio)

6/17/10

Latin America may be quite vulnerable to events in Europe. Beyond the risk that a deep crisis in Europe may result in double dip recession in advanced economies with deleterious global implications, Latin America's trade and financial channels with Europe are large and growing. On the other hand, as in the 1970s, capital flight from advanced economies (especially Europe) could mean more capital flowing into Latin America, offering at least a temporary relief from real sector shocks. The Latin-American Shadow Financial Regulatory Committee (CLAAF) met to address the following issues:
• Under what international scenarios will economic and financial stability in Latin America be compromised?
• Could financial systems in the region withstand a crisis in Spain's banking system?
• Is the recovery in the region sustainable or just the result of temporary capital inflows?
• How should the region's policymakers respond to current vulnerabilities? Is now the time to consider capital controls?
• In light of the recent international experience, should the role of central banks in the region be revised, and should financial regulation be reformed?

Liliana Rojas-Suarez on U.S. Financial Reform (CNN en Espanol)

5/3/10

CGD senior fellow Liliana Rojas-Suarez discussed the main differences and hot button issues regarding the proposals of Democratic and Republican Senators on the Financial Regulatory Reform. Four major areas of debate were identified: the consumer protection agency, financial derivates, the roles and limitations of the banks, and the rescue fund.

Liliana Rojas-Suarez interviewed on CNN en Español

3/30/10

CNN en Español interviewed CGD senior fellow Liliana Rojas-Suarez on the U.S. financial reform.

Rojas-Suarez expressed concern that the Federal Reserve will only supervise entities that have an asset value of more than $50 billion, but won’t supervise the small entities which usually start banking problems like the recent crisis in the United States. She argued that the only way for the U.S. to achieve financial stabilization is by giving the Federal Reserve the authority to supervise the entire financial system.

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