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Nigeria is proposing to transfer a 10 percent stake in the national oil company to delta communities; citizens of the delta would then be entitled to cash benefits, delivered through a trust-type mechanism. Read about it here.
That would be a real live breakthrough on a good idea proposed in CGD papers for Iraq and Ghana.
As part of an ongoing effort to persuade the leaders of the G-20 countries to better address the needs of poor countries in their Summit, CGD president Nancy Birdsall visited Pittsburgh yesterday with a small band of CGDers in tow, myself included.
In a huge step forward, this week Liberia slashed its foreign debt by buying back $1.2 billion in commercial debt -- about one-quarter of its foreign debt -- from its private foreign creditors, including banks, hedge funds, and other “distressed debt” investment funds.
While most of us were taking a holiday yesterday, Molly Kinder, who previously worked as a program coordinator at CGD on Millions Saved, and is now a graduate student at Harvard's Kennedy School of Government, sent the following reflections on Presidents' Day.
Yesterday the United States celebrated Presidents' Day, a holiday which rarely gives reason to pause, beyond perhaps the gratitude for a long weekend. This year, however, I did a double take. The image that Presidents' Day has long evoked in my head -- George Washington, Abe Lincoln, Ronald Reagan -- has recently undergone a makeover and now has a striking new feature: her gender.
The BBC recently featured a story on the flow of skilled Indian emigrants and their offspring returning to India. An Indian official says: "In the 1960s when people left India the buzz word was 'brain-drain'. We see it now as 'brain-gain'."