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Let me speak for the development wing of the Massachusetts Avenue Think Tank Row community in rejoicing at the arrival among us of Kemal Dervis, as vice president and director of the Global Economy and Development program at Brookings, our friends and neighbors across the street.
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.