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In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Tao Zhang, Deputy Managing Director, International Monetary Fund
Sean Nolan, Deputy Director, Strategy and Policy Review, International Monetary Fund
Anna Gelpern, Nonresident Senior Fellow, Peter G. Peterson Institute for International Economics and Professor of Law, Georgetown Law
Mark Plant, Director of Development Finance and Senior Policy Fellow, Center for Global Development
Some of the world’s poorest countries run the risk of building up a debt pile too high for their economies to support, according to the latest IMF report. The Center for Global Development will host the International Monetary Fund (IMF) to discuss the causes for the debt build up and possible ways forward at the launch of Macroeconomic Developments and Prospects in Low-Income Developing Countries (LIDCs) – 2018. This is the fourth annual report in a series by the IMF that looks at trends and socioeconomic indicators of LIDCs. Key findings from the 2018 report and some questions to be discussed include:
Growth improved broadly across LIDCs in 2017, but output growth in commodity exporters continues to lag behind levels achieved in 2010-14. How can this momentum be maintained and what are the risks to more favorable outlook?
There has been a broad-based weakening of fiscal positions in LIDCs in recent years, with fiscal deficits widening in some 70 percent of LIDCs between 2010-14 and 2017. Has this translated into more productive investment? What has been the impact on the financial sector?
Debt burdens and vulnerabilities have risen significantly since 2013 in many LIDCs, reflecting a mix of factors including exogenous shocks and loose fiscal policies. What are the risks of debt distress becoming an endemic problem?
The composition of public debt in LIDCs continues to shift from traditional sources towards non-Paris Club bilateral lenders, commercial external debt, and domestic debt. What challenges does this pose for developing countries and their creditors going forward?
The event will open with remarks from IMF Deputy Managing Director Tao Zhang before moving into a panel discussion moderated by Center for Global Development’s Director of Development Finance and Senior Policy Fellow, Mark Plant.
Join us for a reception in advance of the 72nd World Health Assembly in Geneva, Switzerland.
This reception is an opportunity to learn about a proposed innovative approach to health financing while networking with other global health leaders. Per the high-level political declaration on the fight against tuberculosis, we are committed to mobilizing sufficient and sustainable financing for universal access to quality prevention, diagnosis, treatment and care of tuberculosis.
Industrialization was never an accident but an outcome of a well- crafted industrial policy. Analyzing the capacity and limits of the (developmental) state in the industrialization process and in economic development in general, Murat Yülek’s new book, How Nations Succeed: Manufacturing, Trade, Industrial Policy, and Economic Development, sheds light on how today’s governments can design industrial policy and how they can identify strategic sectors to break out of Low and Middle Income Traps. Explaining technical concepts in understandable terms, the book introduces a stylized industrialization process in four stages and locates different countries on the process map. He illustrates how picking-the-winner type industrial policies –a controversial issue among the economists –have worked in different countries. It also discusses how industrial policy and science, technology and innovation policies should be sequenced for best results. As trade wars and (pre-mature) de-industrialization become the zeitgeist of today, the book shows the links between global (im)balances and economic development explaining export-led growth as well as import-led slowdowns.
On the sidelines of the World Bank and IMF Spring Meetings 2019, the Center for Global Development (CGD) and the Bretton Woods Committee (BWC) will co-host this expert panel to discuss the future of the World Bank under its new president, David Malpass. What should top his agenda? What are the most important and urgent issues in the development landscape and what is the role of the World Bank in addressing these challenges? Join us to hear from this panel of global thought leaders offering recommendations for the future of the multilateral system.