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Everyone says August in Washington, D.C. is quiet. That is of course, unless you are planning to attend the presidential conventions and from what I can tell, just about everyone is sending someone to the conventions. And this time around, CGD is going to both of them.
The U.S. Congress launched a new bipartisan Caucus for Congressional-World Bank Dialogue at a packed event on Capitol Hill July 16. The caucus, co-chaired by Kevin Brady (R-TX) and Betty McCollum (D-MN), provides a forum for members of Congress to engage the World Bank, parliamentarians and policy experts on poverty reduction, global development and trade.
Yesterday the New York Times profiled Lant Pritchett and sketched his proposal to create 16 million guest-worker jobs in rich countries for people from poor countries. His goal is to help people from very poor places make their lives better.
Nearly every time there is a news story about the billions of dollars flowing to poor countries as remittances, someone worries that not “enough” of that money is being saved and invested. A case in point is today’s piece in the Washington Post. Latin American workers in the US will send home $45 billion this year, but “only a small portion … has gone to economic development.”