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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 G-20 Is a Great Idea … but Let’s Make Sure the Execution Is Right!

This post is joint with Enrique Rueda-Sabater

Moving from the clearly obsolete G-7 to a broader group that reflects the reality of today’s world makes eminent sense. Doing it on the basis of a grouping improvised during the crisis-before-last (and making sure that it included the then-favorite finance ministers of the U.S. and Canadian sponsors) is squandering the opportunity to move up to a credible, transparent, global governance platform.

Behind the Headlines: Toronto Summit(s) and Development

The G-8 and G-20 summits held in Canada last week yielded few headlines on development issues, but there was plenty of rhetoric about global interdependence and poverty reduction and a handful of promising, if mostly modest, development initiatives just below the media’s radar.

As expected, the G-20 declaration focused on when and how to unwind stimulus programs that helped to avert a global economic collapse, and on strengthening regulation of the financial sector to avoid a repeat of the 2008–09 financial crisis.

The Expanding Role of the Fed and Why It Matters for Development

In a recent interview on CNN en Español I discussed the evolving role of the U.S. Federal Reserve Board and its implications for developing countries. People in Latin America are following this issue closely. That’s because the global crisis has reminded everybody that an unstable financial sector in the industrial countries has powerful ripple effects not only on the financial sector of developing countries but also on the real economy, with serious consequences for poverty and inequality.

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