January 22, 2007
Wall Street Journal reporter Michael M. Phillips addresses the projected 2007 budget shortfall to fund the Millennium Challenge Corporation (MCC) and its effects on the countries who qualify for assistance. More information about issues addressed in this article, and analysis of the MCC by Senior Policy analyst, Shelia Herrling, can be found on our MCA Monitor website.
From the article:
Now the program's budget is expected to fall short of its projected needs by $400 million to $1 billion, depending on the outcome of congressional negotiations over the coming weeks. The crunch comes at a time when Morocco, Tanzania, Mozambique and several other developing nations are nearing agreements on huge aid packages.
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"There are very few champions [on Capitol Hill] and, I think, dwindling support," said Sheila Herrling, senior policy analyst at the nonpartisan Center for Global Development think tank in Washington.