To say that John Bolton, President Trump’s latest pick for National Security advisor is a well-known UN critic would be an understatement. But it’s well worth noting that he has opinions about the IMF and the multilateral development banks too.
CGD Policy Blogs
In 2016 on the CGD Podcast, we have discussed some of development's biggest questions: How do we pay for development? How do we measure the sustainable development goals (SDGs)? What should we do about refugees and migrants? And is there life yet in the notion of globalism? The links to all the full podcasts featured and the work they reference are below, but in this edition, we bring you highlights of some of those conversations.
To say that John Bolton, President-elect Trump’s expected pick for #2 at the State Department, is a well-known UN critic would be an understatement. But it’s well worth noting that he has opinions about the IMF and the multilateral development banks too.
Congress finally gave the administration what it has been asking for on IMF quota reform, and then some. At the same time, Congress didn’t just give the administration the ability to go forward on governance reform that gives more voting power to rising developing countries. It also included some potentially consequential conditions on its approval. Here we see risks going forward that are manageable but will require some skillful navigation by the next administration.
The United States has enjoyed the privileged position of largest shareholder and donor at the World Bank and IMF since the institutions’ founding 70 years ago.
Benn Steil and Dinah Walker have a baffling post up on the Council on Foreign Relations website, calling out Treasury Secretary Lew for making the factual statement that congressional passage of IMF quota reform “would support the fund’s capacity to lend additional resources to Ukraine.”
What happens when the biggest player in global economic policy circles shuts itself down?