On Current Path, IFC Is Set to Become Bigger than the World Bank in Five Years
This blog entry also appeared on the Huffington Post.
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This blog entry also appeared on the Huffington Post.
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.
A statement by U.S. Treasury Secretary Tim Geithner released on Wednesday in advance of the G-20 meeting of finance ministers and central bank governors took two steps in the right direction.
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