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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.

 

G-20 Member Argentina Is Failing Basic Data Transparency Test on Inflation—And Where’s the IMF on It?

Bad news from Argentina:  The government has been tampering with inflation statistics for several years (publishing official rate as 8 percent compared to independent estimates greater than 20 percent).  Now it is imposing big fines ($100,000) on private consulting firms and individuals producing private estimates.  And where is the IMF on this issue?  In deference to its member Argentina it publishes the official estimate with a footnote suggesting private estimates are much greater.  More background (in Spanish) can be found

IMF Reform: How the Poor Man (That’s the USA) Had a Good Idea

IMF governance reforms were agreed the week before the G20 Summit.  One decision – to increase IMF resources but not by much – may matter for the IMF’s role in a still-unsettled Eurozone – if Ireland’s problem becomes Portugal’s and so on.

For a full and nicely balanced assessment of the reforms from Ted Truman, including on resources, go here.  Among other things, unpacks a couple of little-known and little-understood facts that are (though he doesn’t say so directly) about the role of the USA – the poor man with good ideas.

U.S. Congress Takes Critical Step to Unlock $1 Trillion for Developing Countries Coping with Crisis

The U.S. House and Senate passed the $105.9 billion war supplemental last week, which includes $5 billion to secure $108 billion in additional lending by the International Monetary Fund (IMF). Congress’s approval for increased IMF lending supports President Obama’s G20 commitments and paves the way to unlock the $1 trillion (mostly contributions from other high-income countries) for emerging and developing countries coping with the economic crisis.

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