Henry Asor Nkang from Nigeria's Ministry of Finance, Budget, and National Planning and Publish What You Fund CEO Gary Forster join me on the podcast to discuss the current state of aid data transparency, the impacts of the pandemic, and how countries and donors can use data to improve development efforts.
CGD Policy Blogs
Last month, Abhijit Banerjee won the Nobel Memorial Prize in Economic Sciences, together with Esther Duflo and Michael Kremer. Here’s a quick introduction to almost all of Banerjee’s publications. The range of topics is breathtaking, from land reform to corruption to microcredit to international aid to the fundamental nature of poverty.
We prepared bite-sized summaries of every available paper from this year’s North East Universities Development Consortium annual conference.
The Independent Commission for Aid Impact (ICAI) issued a report this week on the performance of CDC–the UK’s development finance institution–in low-income and fragile states. ICAI gives CDC an Amber/Red rating on its performance, which means “unsatisfactory achievement in most areas, with some positive elements.” In particular, the commission says that CDC has not done enough to monitor its performance.
Please join us next Thursday, March 14 at CGD’s DC office as we launch the Principles on Commercial Transparency in Public Contracts. At their heart is the idea that redaction on the grounds of commercial sensitivity should only occur if it is in the public interest.
The vexed question of whether country-by-country (CBC) reports on multinational companies’ tax affairs should be put into the public domain has been a sticking point in debates on responsible tax practice for years.
On Tuesday, the World Bank announced the launch of a new database to characterize the quality and composition of the public sector in 115 countries. At this point, you might be thinking: “Who decided that we needed another country-level index?” Fear not!
Aid and development transparency has come a long way in ten years. In this, the first of a two-part blog series, we look back at the origins of the aid transparency movement. We reflect on the original vision of those who conceived the idea, and the journey to date including some of the successes achieved along the way.
The Proposed SDG Indicator on Illicit Financial Flows Risks Conflating Ordinary Business and Dirty Money
“Illicit financial flows” means dirty money crossing borders. It is an umbrella term which covers diverse actors including organised crime groups, business people making bribes, political leaders engaging in grand corruption, and major tax evaders hiding undeclared wealth. What they all have in common is that what they are doing is illegal (although they may be getting away with it), and they often use opaque international networks of legal entities, bank accounts, and property holdings to facilitate and store ill-gotten gains. There is a clear development case for rich countries to act to prevent their financial systems being used as havens for illicit financial flows that harm developing countries.
The SDGs include a target to “significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organised crime”. However, there is no globally agreed upon definition for “illicit financial flows.” My new CGD paper looks at why there is so much disagreement and confusion over this term.