Perhaps predictably, media coverage of the G-20 Seoul Summit focused on the currency wars, and assessments of impact of the meeting were decidedly mixed (though, interestingly, more negative in the United States than in the big emerging markets). But global imbalances were hardly the only item on the agenda. Three summit documents have the potential to become more important with the passage of time, especially if the development community seizes upon them as opportunities to press the big economies for pro-development policies and spreads the word.
CGD Policy Blogs
What does the new makeup of Congress mean for global development looking forward? My guest this week is Sarah Jane Staats, director of policy outreach here at the Center for Global Development. Sarah Jane is responsible for engaging the development policy community—especially senior staff in the U.S.
This is a joint post with Stephanie Majerowicz.
Our colleagues Sarah Jane Staats and Connie Veillette have already explained how the recent election results might affect foreign aid. The 150 Account, which includes aid, is a prime target as Congress takes aim at the budget deficit. One silver lining may be that belt-tightening could also force compromise on long-overdue reforms.
But what can we learn from history?
I am in India this week. The first purpose for coming was to present on my book at the Microfinance India Summit conference in New Delhi. The timing turned out to be extraordinary: after I made the plan to come, the largest crisis in the history of microcredit broke out in Andhra Pradesh. I have extended the trip to visit the state later this week.