Since the Millennium Development Goals were agreed in 2000, many developing countries have made great strides. The world was on track to achieve at least the first Millennium Goal of halving the number of extreme poor, and it was coming close to reaching several other objectives as well. But the present crisis is wiping out that hard fought progress. Poor countries’ access to credit has been reduced, resulting in slower investment and growth; already pitiful overseas development assistance (ODA) levels are falling; and Africa might be robbed of its one chance in a generation to make real progress. In the meantime, the world lacks an effective system of global governance. The three deficits in the system I elaborate below have hampered the structure in the past, but they are especially crippling in the present situation.
Though our work and research on matters of global economic governance continues, our posting here does not. For up-to-date information on the latest GEG news and research, please check the main GEG website and Facebook page.
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March 9, 2009 / aid, financial crisis, G20, trade, wto
Tags: developing countries, G20, mdgs, trade
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February 6, 2009 / aid, financial crisis
As governments prepare for the G20 meeting in April, there is one thing you can be sure of: the agenda will be dominated by the global financial crisis. If you’ll forgive the expression, it’s an absolute banker.
So here’s the question. As the financial meltdown continues its journey from the US housing market, through the banking systems and real economies of rich countries and into the lives of the world’s poorest people, when are we going to see a financial rescue package for the Millennium Development Goals (MDGs)?
Tags: aid, financial crisis, mdgs
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February 2, 2009 / aid, financial crisis, imf, world bank
When the G20 meet in April the needs of African countries should be high on their agenda. The G20 have promised “comprehensively to reform the Bretton Woods institutions” . At least three major changes should be pushed.
Tags: Africa, financial crisis, G20, imf, ngaire woods, world bank
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January 13, 2009 / aid
Targeting the right audience, with the right incentives, may be the key to progress on the Millennium Cities Initiative, writes GEG guest blogger, Christina Ward.
On Wednesday, 10 December 2008 the Earth Institute of Columbia University hosted its second Millennium Cities Investment Day in London. The Millennium Cities Initiative (MCI), founded in 2005, aims to assist nine selected mid-sized cities across sub-Saharan Africa, located near the Millennium Villages, to achieve the Millennium Development Goals (MDGs). Perhaps the two of the most striking features of the conference were the different audiences being addressed and the differences in delivery across the country panels.Tags: aid, development
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December 7, 2008 / aid, financial crisis
Just think about it. The $700 billion rescue package that the US Congress approved for the financial crisis is equal to seven times current yearly aid levels, or the equivalent of global aid flows between now and 2015, the year that marks the target for the Millennium Development Goals. It will be spent within a [...]
Tags: aid, financial crisis, paolo de renzio
