CGD Policy Blogs
On the 12th November, I’ll be attending an Overseas Development Institute conference in London on financing the Sustainable Development Goals.
This is a joint post with Prashant Yadav, University of Michigan
The most valuable currency in global health programs today is accurate and reliable data, but such data—abundant in rich countries—does not exist for most low-income and lower-middle-income countries.
Toward the end of the 2008 global economic crisis, the consensus was that developed economies would recover just as quickly as they did in past recessions. It was also expected that emerging market economies would continue acting as the world growth locomotive for a relatively long time. Until mid-2011, this perspective appeared to be in the process of materializing. By now, however, this scenario differs significantly from reality.
China has had a stellar growth performance over the past two decades, growing at record rates of around 10 percent. But high growth has come along with a series on imbalances, notably overinvestment in the real estate sector and huge increase in domestic credit, all of which has caused China’s growth projections to moderate.
Clare Walsh, a senior official in the Australian Department of Foreign Affairs and Trade and the chair of the Development Working Group of the G-20, recently visited CGD for a round-table discussion with CGD senior staff. Afterwards I hosted her and CGD senior associate, Scott Morris, a former senior US Treasury official, on the Wonkcast.
The long-anticipated rebasing of Nigeria’s GDP series was finally made public on Sunday April 6, and the general media reaction has been cautiously celebratory. But the reaction has largely missed one big point: the rebasing establishes that the biggest economy in Africa has the lowest tax revenues of almost any country in the world.
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.