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Blog Post
December 19, 2022
One in five people on the planet live in countries at risk of debt distress. Yet the leaders and institutions that understand the challenge and could address it are instead virtue signaling and pointing the finger at others who share responsibly for a solution. We need a different approach—one that ...
Blog Post
December 13, 2022
A new bipartisan bill, introduced by Representatives Joaquin Castro (D-TX) and Young Kim (R-CA), looks to advance innovation in US development policy, embracing a definition of innovation that captures both technological advancements and novel approaches to development programming.
TESTIMONY
December 13, 2022
On December 13th 2022, CGD Senior Fellow Prashant Yadav appeared before the House Foreign Affairs Subcommittee on International Development, International Organizations, and Global Corporate Social Impact at a hearing titled “Modernizing International Development Assistance: Opportunities and Challe...
Blog Post
December 12, 2022
In the past two decades, health has been the darling of the relationship between the United States and Africa. But there’s a risk now that impact is mistaken for success, with other priorities competing for resources and attention in US-Africa policy. The US-Africa Leaders Summit provides an excelle...
Blog Post
November 17, 2022
Foreigners don’t receive much of America’s $35 billion annual foreign aid budget, at least not directly. Less than ten percent goes to local charities, companies, or governments in developing countries. The Biden administration, like past administrations, is trying to reform the system. But it needs...
BRIEFS
October 11, 2022
We are living in a time when many countries face heightened debt vulnerabilities. There is no international bankruptcy mechanism for countries that default on their external obligations. The objective of the international financial architecture—historically overseen by the IMF and its shareholders— ...
Blog Post
October 04, 2022
The World Bank/IMF Annual Meetings begin next week—against a backdrop of mounting economic crises and uncertainty. How can we reduce global debt? Rethink the MDB/IMF system to address pressing issues like pandemics, climate change, and food security? Support poor countries where they need the most a...
Blog Post
September 14, 2022
In March, the World Bank estimated that a dozen developing countries could default on their debt over the next 12 months. The warning signs are everywhere. Investors have pulled $50 billion from emerging-market bond funds this year, and the debt of nearly one-third of these countries is trading at d...