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The International Fund for Agricultural Development (IFAD) is facing big questions about how best to respond to evolving financing needs in its client countries. But does it currently have the right financial model to contribute meaningfully to the SDG 2 agenda?
Following the second roundtable held with African finance ministers and central bank governors, Sanjeev Gupta and Mark Plant explore tax concessions and the challenges of meeting the targets for domestic resource mobilization set under the Addis Ababa Action Agenda.
Concerns about rising debt risks in developing economies were front and center at the annual meetings. HIPC is a useful reference point as we talk about a new round of debt crises. But thanks to the rise of China as a lender, the creditor community today looks much different from the HIPC creditor community—with implications for any resolution to a debt crisis.
Every MDB is now confronted with the question of what to do with middle-income countries, given the need to focus on the Sustainable Development Goals in general, but very concretely on goal #1—poverty eradication—which will be difficult to achieve based on recent trends. MDBs are very important for MICs, but at the same time MICs are vital for MDBs. This is essentially a two-way relationship. Without MICs, MDBs will be less innovative, will have less knowledge and, importantly, will require more capital from shareholders. I will explain why I believe so in this short note.
Earlier this month, the long-awaited report on the future of the European financial architecture for development was released. Are the report’s proposals feasible? And crucially, do they offer a magic bullet to the intractable state of the European development finance system? I argue that although some of the proposals go some way towards offering a solution to the current problem, politics will undoubtedly trump logic, and we will—at least in the near future—be left with a stalemate.
Worldwide military spending as a percentage of GDP in the years since the Global Crisis has been at nearly half its level during the Cold War. This column identifies three groups into which spending has been converging. It also shows that external threat levels are a factor in determining military spending, but only in developing economies. The results suggest a significant peace dividend from reducing internal conflicts, with a country that moves from the bottom 25% to the top 25% of developing countries on political stability and the absence of violence/terrorism likely to reduce military spending by about half a percentage point of GDP.