The United States’ strategy towards Africa has shifted from “how much aid” to how to attract trade and investment, said White House Deputy National Security Advisor Michael Froman in a major speech at the Center for Global Development this week. The standing-room only crowd seemed to welcome the emphasis on aid-plus, or more than aid approaches in Sub-Saharan Africa. CGD President Nancy Birdsall praised the administration’s “excellent vision” around the tough issues of economic growth and equal opportunity.
CGD Policy Blogs
Despite an unprecedented increase in US civilian assistance to Pakistan, more money has led to more problems in achieving long-term development goals in the fractious and fragile state. My guests on this week’s Wonkcast are Milan Vaishnav and Danny Cutherell, co-authors of a recent report written jointly with CGD president Nancy Birdsall. The new report--More Money, More Problems: A 2012 Assessment of the US Approach to Development in Pakistan--assigns letter grades to US government efforts in ten areas and provides recommendations for more effectiveengagement in Pakistan.
Last week our CGD and Peterson Institute colleague Arvind Subramanian called on the IMF to speak truth to power, in an elegant cri de coeur in the Financial Times. The IMF, he notes: “has not provided independent intellectual leadership, most evidently on the eurozone crisis. And it is unprepared to provide stability for the next big global crisis.”
World Bank president Jim Kim delivered a speech and responded to questions today at Brookings in his first public event since taking the helm at the world’s top development organization on July 1. He struck me as thoughtful, well-informed, articulate and dedicated to multilateralism and the bank’s mission of reducing global poverty. You can see his speech and the Q&A here.
Last year my former colleagues Molly Kinder and Wren Elhai joined Nancy Birdsall for a listening tour in Pakistan that sought to gather input from a range of experts for CGD’s June 2011 report on the U.S. assistance program there. Last month, in support of CGD’s upcoming follow-up report on status of the program in 2012, I travelled to Pakistan for another round of discussions.
This is a joint post with Milan Vaishnav.
One of the biggest experiments in development economics is about to begin on Honduras's Northern Coast. Honduras has altered its constitution to open the way to ceding a large tract of land to build a new "Special Economic Zone", modeled on NYU economist Paul Romer's idea of charter cities -- new cities, built up from scratch, where first-world institutions and third-world immigrants can meet and do business.
IMF managing director Christine Lagarde announced at a CGD event on Tuesday that the IMF would provide research and analytic support in three areas crucial to sustainable development: carbon pricing, phasing out fossil fuel subsidies and green national accounting, that is, development of new measures of economic progress that take into account environmental costs and benefits not included in Gross Domestic Product (GDP).
IMF Chief Warns of Triple Crisis—Economic, Environment, Social—Details IMF Actions to Help on Climate
In a major departure from the IMF’s traditional focus on narrowly defined economic problems, IMF managing director Christine Lagarde warned today that the world faces “a triple crisis—an economic crisis, an environmental crisis and, increasing, a social crisis.”
This is a joint post with Christian Meyer.
With rapid growth in emerging market economies in the last decade, millions of people have entered the new global middle class. That has created new consumer markets in Latin America, Africa, and Asia – a good example: Dunkin’ Donuts going to India – and sparked considerable interest in the global financial and corporate communities.