We develop screens and principles designed to maximise the impact of aid, especially in richer recipients. All else equal, a dollar spent in the poorest countries will have a larger impact on well-being than a dollar spent in richer countries, so ODA should be concentrated in those countries.
Strengthening Approaches to Conflict Prevention and Peacebuilding at the UN and IFIs: Key Ideas and Recommendations
All three of the recent UN secretary-general reports on peacebuilding and sustaining peace (2018, 2019, and 2020) take note of the need to enhance collaboration between the UN—not only its development system but also its peace and security and humanitarian arms—with international financial institutions (IFIs), namely the World Bank and International Monetary Fund (IMF).
Here are five questions that the G20 IFA Working Group might want to answer if it is to harness the energy of the enthusiasts and quell the skepticism of the cynics.
Many prominent people have advocated that the IMF undertake an “SDR allocation” to assist countries in dealing with the global financial crisis brought about by the COVID-19 pandemic. If IMF shareholders show some leadership and bureaucratic flexibility, there are ways to allay the American government’s concerns and quickly get liquidity in the hands of countries who desperately need it.
Around the turn of the century, there was a broad recognition that the debt burden of many developing countries was impeding their growth. Much of the debt had accumulated in the context of the Cold War and had not resulted in productive investment.
Adapted from a seminar with the IMF and climate experts that CGD co-sponsored with the European Climate Foundation, this note looks at the role that the IMF can take to help tackle climate change.
In May 2018, the shareholders of the International Finance Corporation (IFC)—the private sector arm of the World Bank—agreed to increase its paid-in capital by $5.5 billion as part of the $13 billion capital increase for the World Bank Group (WBG). The US administration agreed to the increase but declined to contribute to the additional capital. But for the increase to take effect, Congress must authorize it. Thus far, it has not done so. Why?
In the Harry Potter novels, a magic hat decides which of four school houses new pupils should join. Development finance institutions (DFIs) need something like that when trying to decide which private firms to subsidise, although applicants only need sorting into two groups: firms that are doing something socially valuable and which genuinely require a subsidy, and firms that are merely trying their luck to get a subsidy for a project they would undertake in any case.