Ideas to Action:

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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.

 

A hand with a magnifying glass looking at financial papers. Adobe Stock

IFC Must Implement the Recommendations of its External Accountability Review

In late July, we had called for the immediate release of the IFC/MIGA report, and we are pleased that the report has now been disclosed. The review is comprehensive and exposes serious problems in IFC/MIGA’s accountability system that have led to its dysfunction. The process for implementing reforms should be open and transparent and should address the following shortcomings:

Liliana Rojas-Suarez presents her decision tree in Mexico City

Where Policy and Research Meet: Takeaways from Workshops on CGD's New Policy Decision Tree for Financial Inclusion

On October 10, CGD, in collaboration with the Alliance for Financial Inclusion (AFI), held a workshop in Mexico City to discuss CGD’s innovative tool that serves to diagnose the crucial impediments to digital financial inclusion in specific country contexts. There, we shared a draft of CGD’s forthcoming paper: A Decision Tree for Improving Financial Inclusion.

The World Bank Group's headquarters

Congress Spotlights the World Bank’s Private Sector Subsidies

Yesterday, the House Committee on Financial Services held a hearing with US Secretary of the Treasury Stephen Mnuchin on the international financial system. Chairwoman Maxine Waters opened the session with a strong statement on the World Bank’s $2.5 billion IDA Private Sector Window (PSW). Chairwoman Waters raises important concerns with the Private Sector Window that should be urgently addressed.

Exaggerating Multinational Tax Avoidance Does Not Help Africa

Matti Kohonen of Christian Aid holds out the enticing prospect that African countries could collect an additional 1.5 percent of gross domestic product in tax if only big multinationals would stop dodging. The problem is that this estimate is (still) based on wishful thinking. Multinational corporations should pay tax, but the scale of potential revenues depend on underlying levels of investment and profitability in a country. 

What Have We Learned from Expenditure Conditionality in IMF Programs?

As part of borrowing from the IMF, the IMF and the country that is borrowing agree on the implementation of certain policies (conditions) during the program period. The implementation of some conditions is not essential for the continuation of the program, including some pertaining to budgetary expenditures. Their implementation often vary from country to country, and the empirical analysis shows that certain budgetary conditions achieve their intended objectives over the long term, while others do not. In this blog, I explain which budget conditions work, and which don’t work.

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