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Views from the Center

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U.S. Congress Takes Critical Step to Unlock $1 Trillion for Developing Countries Coping with Crisis

The U.S. House and Senate passed the $105.9 billion war supplemental last week, which includes $5 billion to secure $108 billion in additional lending by the International Monetary Fund (IMF). Congress’s approval for increased IMF lending supports President Obama’s G20 commitments and paves the way to unlock the $1 trillion (mostly contributions from other high-income countries) for emerging and developing countries coping with the economic crisis.

President Lula to Head the World Bank? Process Matters, Too

Last week the Guardian reported that the Obama Administration has approached President Luiz Inácio Lula da Silva of Brazil about becoming the next President of the World Bank. Seems unlikely to me – for one thing it’s early, since Robert Zoellick’s term lasts another three years, and the Administration has many other fish it is frying right now.