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Views from the Center

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At The G-20 Summit, Nothing for Africa

Five years after Africa was centerstage at a meeting of the G7 heads of state in Gleneagles, it has all but vanished from the priorities of policymakers from the rich and emerging economies. At the G20 Summit in London this week, heads of state will debate new resources for the IMF, in the range of $250 billion. But these resources will likely be deposited in the New Arrangements to Borrow (NAB) facility, which will be far too expensive and out of reach of most African countries.

G-20 Should Announce $1 Trillion to Help Developing Countries Cope with the Crisis

The accelerating downward spiral in the global economy has made me increasingly convinced that the G20 leaders gathering at the London Summit in early April should announce that they stand ready to provide up to $1 trillion to help developing countries to cope with the crisis over the next two years. This wouldn't be a handout, but an important part of a global stimulus package. It's in the rich world's own self-interest to anticipate the developing world's financing needs and to put in place the necessary resources. To do so is both a moral and a security imperative.