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The June meeting of the Millennium Challenge Corporation (MCC) Board was expected to reveal early signs of how the Obama administration will steer the program. CGD senior policy analyst Sheila Herrling writes that decisions to partially terminate MCC compacts with Nicaragua and Armenia are not bad, but could have been better. Herrling says placing parts of the compacts on hold instead of terminating the troubled components outright risks undermining the MCC’s founding principles of being non-political and results-based.