Multilateral Development Banks

When President Takehiko Nakao of the Asian Development Bank (ADB) visited CGD earlier last year, he described management’s groundbreaking proposal for a major restructuring of the bank’s financial model that we view as both sensible and creative.

Following last week’s dramatic joint announcement out of Washington and Havana, many doors are likely to open for Cuba. One priority for the Cuban government should be membership in the multilateral development banks (MDBs).

There are no doubt a number of new realities created by the US Supreme Court’s decision this week to let stand a lower court ruling supporting hedge fund bond holders who refused to accept reduced payments after Argentina’s 2001 default. 

The Multilateral Investment Fund (MIF) of the Inter-American Development Bank is launching a new $5.3 million facility to support Social Impact Bonds in Latin America and the Caribbean, making it the first development finance institution to commit resources to implementing SIBs. 

The agenda for the G-20 finance ministers and central bank governors meeting in Sydney this weekend focuses on two themes: promoting stronger economic growth and employment and making the global economy more resilient. The G-20 leaders have recognized that expanding and...