Ideas to Action:

Independent research for global prosperity

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.

 

For the IMF Package in the Omnibus Budget, a Sigh of Relief — and a Warning for the Future

Congress finally gave the administration what it has been asking for on IMF quota reform, and then some. At the same time, Congress didn’t just give the administration the ability to go forward on governance reform that gives more voting power to rising developing countries.  It also included some potentially consequential conditions on its approval. Here we see risks going forward that are manageable but will require some skillful navigation by the next administration.  

Congress Talks MDBs

It was a beautiful, barely-fall Friday in Washington, which made it all the more impressive that twelve members dropped in on a morning House Financial Services Subcommittee hearing on the multilateral development banks (MDBs).

Dismantling US Leadership One Budget at a Time, Part 2

My earlier post on congressional funding for multilateral institutions betrayed little optimism about the Senate’s willingness to restore devastating funding cuts imposed by the House of Representatives. I had no idea.

The newly released Senate funding levels are just barely an improvement over the House’s draconian cuts, slashing the president’s multilateral budget in half. When cuts of 50 percent mark an improvement, you know you’re in trouble.