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At the United Nations MDG Summit: Don't Forget MDG 8 and Trade!

This is a joint post with Kaci Farrell.

Later this month, world leaders will meet at the UN in New York City to discuss accomplishments and challenges to meeting the Millennium Development Goals (MDGs) by the 2015 target. While their discussions will cover a range of topics and strategies, summit participants should remember the importance of trade as a development tool.

Trade preference programs can encourage investment, promote prosperity and ultimately reduce poverty in the world’s least developed countries.

Ethiopia’s Experiment

The ever-vigilant Chris Blattman drew attention yesterday to Ethiopia’s currency devaluation. What was surprising and interesting about this move is that the devaluation was not undertaken under the usual duress of “macroeconomic adjustment.” Typically, in Africa, macroeconomic and foreign exchange crises have been the trigger for devaluation.