Authors: Shantayanan Devarajan and Wolfgang Fengler
Sub-Saharan Africa's GDP has grown five percent a year since 2000 and is expected to grow even faster in the future. Although pessimists are quick to point out that this growth has followed increases in commodities prices, the success of recent political reforms and the increased openness of African societies give the region a good chance of sustaining its boom for years to come.
The IMF Board of Governors is advised by the Development Committee and the International Monetary and Financial Committee. After the IMF-World Bank Spring meetings, both committees released final communiqués on April 20, 2013.
Helen Clark discusses the 2013 Human Development Report, The Rise of the South: Human Progress in a Diverse World. The report identifies more than forty developing countries that have done better than expected in human development in recent decades, with their progress accelerating markedly over the past ten years
Isobel Coleman, CFR's senior fellow and director of the Civil Society, Markets, and Democracy initiative, discusses transitions to democracy and market economies, as part of CFR's Academic Conference Call series.
The recent announcement of a BRICS development bank raised many questions. Isobel Coleman writes about the potential structure and purpose of the BRICS development bank and its implications for international development and the global economy.
President Obama met with President Sall from Senegal, President Banda from Malawi, President Koroma from Sierra Leone, and Prime Minister Neves from Cape Verde on March 28, 2013. The four presidents discussed the progress their countries have made in democracy and economic development.
Asked by Fagner Dantas, from Universidade Federal da Bahia
The Brazilian government faces a number of challenges and opportunities concerning its economic forecast in the coming years. After peaking at 7.5 percent growth in 2010, Brazil's recent economic slowdown has caused worry that the dream of a new high-growth economy had slipped out of reach.
Isobel Coleman writes that while it is widely recognized that food and fuel subsidies in Egypt are expensive and inefficient, Egyptian leaders do not want to touch the political third rail of subsidy reform. But they also realize that the country's fiscal situation is untenable without it. Sooner or later, serious subsidy reform is inevitable, and a well-planned process is preferable to the alternative.
The Arctic region is undergoing unprecedented and disruptive change. Its climate is changing more rapidly than anywhere else on earth. Rising temperatures are causing a retreat of sea ice and changes to seasonal length, weather patterns and ecosystems. These changes have prompted a reassessment of economic and development potential in the Arctic and are giving rise to a set of far-reaching political developments.
Even as Mexico continues to struggle with grave security threats, its steady rise is transforming the country's economy, society, and political system. Given the Mexico's bright future and the interests it shares with the United States in energy, manufacturing, and security, Washington needs to start seeing its southern neighbor as a partner instead of a problem.
Both are accurate. China certainly "has risen" to become a global economic power: in only three decades, it has transformed itself into the world's second largest economy, largest exporter, and largest provider of loans to the developing world. At the same time, China is rising: its economic and political system, as well as its foreign policy, is still developing. To state categorically that China "has risen" is to accept that the China of today will be substantially the same as the China of five to ten years from now, and few people in or outside China would accept such a conclusion.
Jagdish Bhagwati argues that growth can reduce poverty and that slow economic growth will hurt social development, which he also argues in his new book with Arvind Panagariya, "India's Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges."
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
The author examines Pakistan's complex role in U.S. foreign policy and advocates for a two-pronged approach that works to quarantine threats while integrating Pakistan into the broader U.S. agenda in Asia.