Ideas to Action:

Independent research for global prosperity

Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

The Unintended Consequences of Anti–Money Laundering Policies

De-banking is an ugly word, but it’s the focus of a new working group launched by CGD in Europe. Banks in rich countries, under pressure from anti–money laundering and counterterrorism enforcement efforts, are increasingly “de-banking” money transfer organizations that operate in poor countries. In other words, to prevent criminals transferring their ill-gotten gains around the world electronically, they are denying banking services to legitimate companies that are a vital route for millions of people and businesses. And we are talking huge sums of money. 

Kudos to the Philippine Government for Its Foreign Aid Transparency Hub

On April 25, the Philippine government launched Version 2.0 of its Foreign Aid Transparency Hub (FAiTH).   FAiTH records all foreign aid and assistance, in pledges, cash, and non-cash donations, given to the Philippines in the aftermath of Typhoon Haiyan. The portal offers detailed information, by donor.  Information can be accessed online or downloaded for further analysis.  As of today, FAiTH indicates that the government has received $762 million in foreign assistance, of which $248 million is cash and $514 is in-kind assistance.  The total amount of cash received by the government, including from domestic sources, is $336 million.

Why Don't African Firms Create More Jobs?

Many countries in Africa suffer high rates of under-employment or low rates of productive employment; many also anticipate large numbers of people entering the workforce in the near future. It is estimated that the working age population will rise to almost 800 million in 2030, up from the current number of 466 million.  In our new paper , we ask the question— are African firms employing fewer people than firms located in other parts of the world? And if so, why? 

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