Challenging global economic conditions, including a combination of low growth, a limited number of jobs, and rising inequality, are fueling the rise of nationalism and populism that are a threat to global cooperation, IMF Managing Director Christine Lagarde said in a speech at CGD.
CGD Policy Blogs
From the superbug scare in Pennsylvania last month to the UK’s recently released Review on Antimicrobial Resistance, slowing the rate at which infections become resistant to antibiotics is rising up the list of global health priorities—and rightfully so. The Review estimates that deaths from antimicrobial resistance (AMR) could reach 10 million people a year by 2050 if we don’t reduce the overuse and misuse of antimicrobials, including antibiotics, and that the economic damage could add up to a staggering $100 trillion by 2050.
When the Chinese government launched a new multilateral development bank (MDB) with “infrastructure” in the name—the Asian Infrastructure Investment Bank (AIIB)—it hardly seemed far-fetched to assume a strong Chinese preference for infrastructure-related MDB financing. Everything we know about China’s bilateral development financing suggests the same. Yet, a closer look at the AIIB’s charter suggests openness to a broader range of sectors and activities, pointing to potential for investments in “other productive sectors.”
Does broadening financial access to large segments of the population pose risks to financial stability? Not necessarily, according to recent remarks by IMF managing director Christine Lagarde. Increasing access to basic financial transactions such as payments does not threaten financial stability, especially when appropriate supervisory and regulatory frameworks are in place. In fact, with the right regulatory supervision, increased access to financial services can result in both micro and macro benefits. Recognizing the macroeconomic and regulatory dimensions of financial inclusion, CGD and the IMF joined forces for a seminar to kick off the IMF Spring Meetings 2016.
It has operations in more than 30 countries worth around $9 billion. And now the European Bank for Reconstruction and Development is searching for its next leader. Current president Sir Suma Chakrabarti is seeking a second four-year term as EBRD president, and he faces the challenge of Marek Belka, a former Prime Minister and Finance Minister of Poland and currently president of the country’s National Bank. Recently both candidates recorded interviews with me, which we have edited together into this edition of the CGD Podcast.
Coloring Outside the Lines: How CGD Helped the Asian Development Bank Unlock Billions More in Development Funds
This blog is part of a special series celebrating CGD’s 15th anniversary in 2016. All year, CGD experts will look back at work we’ve done that has had real-world impact, and forward to future research that we hope will help increase global prosperity.
As well as being the beginning of a new year, this is also the start of CGD’s 15th anniversary year, so what better way to kick off than to invite our president Nancy Birdsall to cast her gaze back to 2015 and forwards to 2016.
The African Development Bank is widely praised these days as one of the premier financial institutions in Africa. The past decade saw it place much greater emphasis on infrastructure financing, a change brought about in part by the instincts of its former president Donald Kaberuka. In this week's podcast, Kaberuka discusses how the AfDB’s success came about.
Overseas development assistance amounts to about $135 billion dollars annually, but the cost of paying for the Sustainable Development Goals will be in the trillions. As a result, blended finance is something of a buzz phrase these days. I left a workshop on blended finance last week in Paris excited about the potential of these new structures and instruments to deliver social returns. But I was also struck by the challenges DFIs and their advocates must overcome in order to fully realize that potential.