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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.
Last week, Bill Easterly and colleagues formally launched the new Aid Watch initiative at the Development Research Institute at NYU. Aid Watch is meant to serve as an independent monitor of the aid practices of official development agencies, through research, events, and a blog.
Last week the German Marshall Fund released the report of a Transatlantic Task Force on Development. Formed in spring of 2008, the Task Force was led by former U.S. Congressman Jim Kolbe and Swedish Minister for International Development Gunilla Carlsson. Its purpose was to formulate a common U.S.-Europe development agenda, as a basis for renewed transatlantic cooperation in tackling global challenges. I was one of 22 European and American task force members.
President Barack Obama’s first address to a joint session of Congress on Feb. 24 isn’t officially a State of the Union Address, since he has just recently taken office. But it will look and sound exactly like a State of the Union, and that can mean only one thing: time for CGD’s ever popular State of the Union (SOTU) BINGO!
By providing fiscal stimulus and strengthening financial sector regulation, of course. But that may not be enough. Will the U.S. and the Europeans also revisit the idea of a global social contract -- to protect millions of people losing their jobs in developing countries? In a speech I delivered to the Dutch Scientific Council in December, I argued that
From the headlines you would think Davos was mostly doom and gloom and blaming the bankers (and rough talk from Putin and between PM Erdogan of Turkey and Peres of Israel). Development was less visible this year than ever. As Simon Maxwell observed: No Bono. No Jeff Sachs. No Zoellick.