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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

In the Midst of the Financial Crisis, an Opportunity for Innovative Financing for Development - Cash on Delivery Aid

This is a joint posting with Ayah Mahgoub

This week, from November 29th through December 2nd, heads of government and multi-lateral institutions as well as representatives from business, and civil society will convene to evaluate the progress that has been made since world leaders met in Monterrey in 2002 to develop a plan to confront the challenges of international financing for development. Almost seven years later, some progress has been made towards fulfilling the commitments made there, but much is left to be done. In Monterrey, leaders made commitments to mobilize domestic and international resources, increase financial and technical cooperation, improve international trade, and address issues surrounding external debt and systemic challenges to financing international development.

Whither the IMF in the Current Crisis? Invite the Big Emerging Economies to the Table

IMF and Participants at the upcoming meetings of the IMF and World Bank in early October are bound to promise with considerable conviction an increase and an improvement in international coordination of domestic financial regulators -- just as U.S. Treasury and Fed officials are now promising, with considerable conviction, to revisit and reform the rules and the coordination of a currently fragmented regulatory set-up within the U.S.

Global Development on Capitol Hill: Sen. Menendez and Nancy Birdsall in Congressional Hearing and CGD Book Event

Sen. Robert Menendez, chairman of the Senate Foreign Relations Subcommittee on International Development and Foreign Assistance, Economic Affairs and International Environmental Protection, said he was proud to support any initiative highlighting the global development agenda for the next U.S. president during CGD’s Capitol Hill discussion of The White House and the World: A Global Development Agenda for the Next U.S. President last week.

Poor in Developing Countries are Victims of Our Mistakes (Development Impacts of Financial Crisis)

I suspect that the fallout from this crisis will remind us all that rich world growth and macro policy still matter for developing countries and for the poor within them, even though some of these economies are very large and have been growing very rapidly. The growing interconnectedness of the world -- globalization -- means that they are victims of our mistakes just as we are increasingly vulnerable to theirs.

U.S. Financial Crisis Will Mean Slower Growth, Rising Inequality in Developing World (Development Impacts of Financial Crisis)

For many developing countries, the U.S. credit crisis will mean slower growth and rising inequality. The effects will be protracted, and not all will show up at the same time. And the nature and degree of impact will vary widely. Some countries, notably those with extensive foreign exchange reserves and strong fiscal positions, will be much better able to cope than others. But overall the crisis is very bad news for developing countries and especially for the poor.

Accra Agenda for Action: A Few (Small) Steps in the Right Direction

This is a joint posting with Ayah Mahgoub

The Third High Level Forum on Aid Effectiveness held in Accra, Ghana has come to an end, with as many as 1,500 people (officials, advocates, activists) milling and talking. The conference was convened as a follow-up to the 2005 Paris Declaration on Aid Effectiveness, in which donors and recipients agreed on five major principles to improve foreign aid: recipient country ownership of programs and reforms funded by aid, alignment of donor programs to recipient country priorities, harmonization and coordination between donors, managing for results, and mutual accountability of both donors and recipients for achieving those results.

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