The IMF is doing some very interesting (and praiseworthy) rethinking in response to the global crisis, if a new paper co-authored by its chief economist Olivier Blanchard is anything to go by. It’s written by and for economists, so it’s not exactly bedtime reading (unless you’re an insomniac), but here’s the highlights, and my attempts at translation. Overview: ‘The great

Since early 2009, Oxfam has been researching the impact of the global economic crisis on poverty and poor communities, and the way governments and others have responded. With co-authors Richard King and May Miller Dawkins, I’ve now pulled together focus group discussions and in depth interviews with 2,500 people, 11 country case studies and regional overviews into a draft research

The Bank’s Independent Evaluation Group – an internal watchdog with a good track record in spotting problems, has just published an evaluation of the World Bank Group (WBG)’s response to the crisis. Nothing earth-shattering, but here are some highlights: ‘The greatest part of the Bank’s response in fiscal 2009 was a large increase in IBRD lending, which was unprecedented relative

A new report from the Center for Economic and Policy Research in Washington DC tries to work out whether the IMF has really changed its thinking in response to the global economic crisis and the general perception that countercyclical responses (rather than belt-tightening austerity) are the right way to go in a recession. After a (fairly polite) public row with

Last week we (Oxfam International) met to discuss a series of studies on the impact of, and response to, the global economic crisis (GEC). Partly because the discussion took place in Bangkok, the research (and therefore this summary) was very weighted towards East Asia and the Pacific, but here are some initial impressions. From studies in 11 countries, if one

I recently gave a two week introduction to development (undergrad level) at the University of Notre Dame, consisting of eight 45 minute lectures – here are the powerpoints for anyone wanting to nick them. Each lecture includes a brief illustrative video clip of campaigns, social movements etc. Subjects covered are: Risk and Vulnerability; The Global Economic Crisis; The International System;

Ngaire Woods, a veteran IMF watcher, came and briefed us on the Fund and the crisis, based on her recent paper for the European Parliament. Here are some highlights: There is a gulf between public perceptions that the IMF is helping the poorest countries, and the reality, that it’s main role has been sorting out the financial disaster in Eastern

I didn’t attend the G20 summit in Pittsburgh last week, but I’ve been poring over the communiqué. Here are some initial thoughts on what it all means (numbers in square brackets refer to paragraphs in the original), incorporating analysis and intel from the Oxfam team at the event. Headline: Pittsburgh formally enshrined the rise of the BRICs and relative decline

In time for the G20 summit later this week, my indefatigable colleague Richard King has revised and updated his invaluable synthesis of the key data on the global economic crisis and its development impact. Here goes: Unemployment (ILO)  Gender impact of the economic crisis in terms of unemployment rates is expected to be more detrimental for females than for males

Another day, another UN report, this time the Trade and Development Report 2009, from the UN Conference on Trade and Development (UNCTAD), released last week. It’s surprisingly forthright. Set up in 1964, in the table-thumping days of the New International Economic Order, in recent years UNCTAD had become markedly more cautious, not least under its current secretary general, the distinctly un-fiery

This weekend the finance ministers of the G20 – the world’s most powerful nations -will meet in London.  While the rich world’s green shootists apparently feel that the worst of the economic crisis is behind us, the poorest countries are being hammered, with those living on the margins of the global economy paying the highest price for the bankers’ folly.

The IMF has just revised April’s World Economic Outlook growth projections for 2009 and 2010 (see table). Here’s the summary on developing countries: ‘Emerging and developing economies are projected to regain growth momentum during the second half of 2009, albeit with notable regional differences. Low-income countries are facing important challenges of their own because official aid has fallen and these