In The News

IMF: Global Corruption Costs Trillions in Bribes, Lost Growth

David Lawder May 16, 2016
Corruption destabilizes governments and the global economy as a whole. “Public sector corruption siphons $1.5 trillion to $2 trillion annually from the global economy in bribes and costs far more in stunted economic growth, lost tax revenues and sustained poverty,” writes David Lawder for Reuters about an International Monetary Fund research report. The indirect costs – erosion of trust and...

G20 Leaders Endorse Crackdown on Tax Evasion

November 18, 2015
Global leaders are pledging to crack down on tax evasion and also work on sustainable growth. The group of the world’s 20 largest economies, including the European Union and 19 countries, “committed to the implementation of the Base Erosion and Profit Shifting project (BEPS) which closes gaps that allow corporate profits to ‘disappear’ or to be artificially shifted to low or no tax environments...

China Abandons One-Child Policy

October 29, 2015
Human rights advocates have long blasted China for its strict one-child policy. Confronting an aging population and slowing growth, China’s Communist Party is scrapping a policy crafted to ease poverty and allowing two children per family. “China is trying and complete its transition from a[n] investment-and-export-dependent developing nation to a ‘moderately prosperous society’ with an economy...

Can Modi Harness India’s High-Tech Diaspora?

Rupa Subramanya October 5, 2015
Prime Minister Narendra Modi has sought to use his recent trip to the United States as a platform for encouraging Indian diaspora communities to foster closer economic ties with their home country. With more than 28.5 million Indians living overseas, 4.5 million in the United States alone, the Indian government is trying to make it easier for migrants to send remittances home by treating such...

Will Africa’s Growth Help Africa’s People?

Kanayo F. Nwanze July 23, 2015
Africa has 11 of the world’s 20 fastest growing economies, yet thousands of African youth risk their lives to cross the Mediterranean to pursue opportunities in Europe, notes Kanayo F. Nwanze, president of the UN International Fund for Agricultural Development. He questions if growth and development are improving lives for a broad segment of Africans or just a few. Money won’t solve the challenge...

Why Smart Africa Is Smart Policy

Stuart N. Brotman July 9, 2015
In 2013, Rwandan President Paul Kagame and the secretary general of the International Telecommunication Union at that time organized a summit to address Africa’s need for information communication technology, or ICT, an endeavor they called “Transform Africa.” More than 1,200 delegates from different countries, corporations and civil society groups discussed how to bring ICT to Africa. They...

The Broken Link Between Global Trade and Emerging Market Growth

Dan Bogler May 26, 2015
Growing global trade is no longer going hand in hand with GDP growth in emerging markets, reports Dan Bogler for Financial Times. Investors have anticipated growth in developing economies, but instead, the pace is in decline since 2010 due to lower commodity prices, the rise in the US dollar value and slowing growth in China. Domestic factors including high debt contribute to the slower pace. “...