This week, Congress passed the African Growth and Opportunity Act and Millennium Challenge Act Modernization Act (H.R. 3445). Once signed, it will give MCC the long-awaited authority needed to pursue regional programming more effectively.
International actors have criticized decisions by the Trump administration to reject the Paris Climate Accord, abandon the Trans Pacific Partnership, and withdraw from a United Nations declaration intended to protect the rights of migrants. However, there is one international body, the Paris Club, whose members may be rooting for the United States to leave. That’s because, in the absence of congressional action, continued US membership in the Paris Club could impair the economic prospects of some of the poorest countries in the world.
Last week, Congress completed work on a spending package that funds the federal government through the remainder of the fiscal year. As far as development and diplomacy are concerned, the bill is an unmistakable rejection of the deep cuts proposed by the Trump administration. Here are a few standouts from CGD’s most-watched list.
To say that John Bolton, President Trump’s latest pick for National Security advisor is a well-known UN critic would be an understatement. But it’s well worth noting that he has opinions about the IMF and the multilateral development banks too.
Perhaps the least noticed, but most impactful, addition to the US foreign assistance toolkit in recent years has been the US sovereign bond guarantee (SBG). However, the Trump administration’s proposed FY 2019 budget leaves out any request for authorization of new SBGs—and it isn’t entirely clear why. As Congress begins to consider the FY19 budget request, I offer three recommendations on the SBG program so that its role in US foreign assistance going forward can be carefully considered.
Tomorrow, USAID Administrator Mark Green heads to Capitol Hill to defend the Trump administration’s FY 2019 foreign assistance budget request. It won’t be easy. Lawmakers have pushed back hard against the drastic cuts to US global development and humanitarian spending proposed by the administration. Here are some specific issues I hope receive attention during tomorrow’s hearing.
Demand for development finance as a key complement to traditional aid is growing, but despite the impressive strength of the US private sector, the US government’s ability to respond—to date— has fallen short. The good news: Congress got the memo.
After over a year without top political leadership, MCC may soon have a new CEO. Sean Cairncross, the Trump administration’s nominee to take the helm of the agency, has his Senate hearing tomorrow—where we’ll get an early look at his vision for MCC.
The Trump administration delivered its FY 2019 budget request to Capitol Hill this week. Containing deep cuts to the international affairs budget, it looks a lot like a repeat of the FY 2018 request. And with a 30 percent reduction in topline spending, few programs were spared. Meanwhile, buried among the rubble are smart reform ideas that run the risk of being overshadowed—or even undermined—by the depth of the proposed spending reductions.
Debt relief is high on the Sudanese government’s agenda. This week’s budget proposals coming out of the White House indicate that Sudan may finally get its wish—but there’s something weird about where the money comes from. Here I offer an alternative.