2008 is a critical year for evaluating how aid is helping tackle global poverty and inequality. The Doha conference on Financing for Development at the end of the year will review how well the world has done in its global response to confronting the challenges of financing for development agreed in Monterrey in 2002. Donor credibility is on the line as the world waits to be convinced that they will deliver on their many promises made to both increase aid and make it more effective. Lucy Hayes reports
Aid is only one part of the package, but an important one particularly in the poorest countries. The numbers do not inspire much confidence. In 2007 ODA figures fell by over 8% and only five countries in the world have reached their target of spending 0.7% of GNI on development aid. Most countries are also way off target for reaching their commitments made at the Gleneagles G8 and the UN Millennium +5 summit in 2005 ... ... this article is published in Issue 3/May-Jun 2008 for subscribers only. For direct log in >>> click here.If you have no subscription >>> pick your option or >>>
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.
While the G20 efforts to manage global aggregate demand, exchange rate management and stronger regulation of the international financial sector have not worked out quite as planned, in Cannes the Group was further solidifying its role in directing the system of multilateral institutions.
In November 2011, the German Federal Ministry for Economic Cooperation and Development (BMZ) is celebrating its 50th anniversary.The new Minister, Dirk Niebel of the (neo)-liberal FDP has launched a 'radical change of course'. In the recent edition of the Reality of Aid shadow report the change is analyzed.