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International Financial Institutions (IFIs) and particularly the relationship between the IFIs and the United States.
Scott Morris is a senior fellow at the Center for Global Development, director of the center’s US Development Policy program and co-director of the Sustainable Development Finance program. His research addresses development finance issues, debt policy, governance issues at international financial institutions like the World Bank and IMF, and Chinese development finance.
Morris served as deputy assistant secretary for development finance and debt at the US Treasury Department in the Obama Administration. In that capacity, he led US engagement with the multilateral development banks, as well as US participation in the Paris Club of official creditors. During his time at Treasury, Morris led negotiations for four general capital increases at the multilateral development banks and replenishments of the International Development Association (IDA), Asian Development Fund, and African Development Fund.
Morris was a senior staff member on the Financial Services Committee in the US House of Representatives, where he was responsible for the Committee’s international policy issues, including the Foreign Investment and National Security Act of 2007 (the landmark reform of the CFIUS process), as well multiple reauthorizations of the US Export-Import Bank charter and approval of a $108 billion financing agreement for the International Monetary Fund in 2009. Previously, Morris was a vice president at the Committee for Economic Development in Washington, DC.
Morris serves on the international advisory panel of the Asian Infrastructure Investment Bank, the eminent group of independent advisors for the International Fund for Agricultural Development, and the executive committee of the Modernizing Foreign Assistance Network. He is also co-chair of the International Financial Institutions working group, a diverse coalition of US-based organizations seeking to promote effective US participation in multilateral institutions.
President Obama will deliver his 2014 State of the Union speech Tuesday, January 28. We polled CGD experts to find out what they’re hoping to hear when the president addresses Congress and the nation. Check out their oratorical contributions below and read about the development-related decisions and policies they would like to emerge in support of the rhetoric.
In a few days, the US government will move to officially oppose any and all large hydroelectric projects funded by the multilateral development banks, even as USAID considers bringing the mother of all hydroelectric projects, “Inga 3”, into the high profile “Power Africa” initiative.
The World Bank should declare the IDA-17 replenishment its last and move to replace it with a broader bank resource review. Sticking with the status quo risks an underfunded institution and one that is increasingly isolated from its shareholders (yes, that would be a bad thing).
President Obama earlier this week made a last minute appeal to donors to the Global Fund to Fight AIDS, Tuberculosis and Malaria. Offering a US pledge of $1 for every $2 pledged by other donors for a total US pledge of up to $5 billion, the president said, “don’t leave our money on the table.” Well, the initial commitments are in, and it appears that there will in fact be US money left on the table. Donors to the Global Fund announced total pledges of $12 billion, suggesting a US commitment of about $4 billion.
Hey international community, so you’re feeling helpless as you watch the debt limit crisis unfold in Washington? Here’s something you can do about it.
With the world’s economic policymakers in Washington this week for the annual meetings of the World Bank and IMF, there is no shortage of commentary from foreign officials about the dire impact of a US government debt default (see here, here, and here), including the harm already done in the form of spikes in borrowing costs for their governments.
In this series of briefs, Center for Global Development experts present concrete, practical policy proposals that will promote growth and reduce poverty abroad. Each can make a difference at virtually no incremental cost to US taxpayers. Together, they can help secure America’s preeminence as a development and security power and partner.