What We’re Reading 4/14/09

Apr 14th, 2009 11:20 AM UTC
By Steve Wilson

Financial Times—IMF needs overhaul say global banks
The International Monetary Fund needs “nothing short of a transformation” to stimulate emerging markets and monitor the financial system, the Institute of International Finance, a group of global banks, said yesterday. “The challenge now is to translate the broad commitments on policy and funding that were made at the G20 summit into reality – and to do so with considerable urgency,” said Charles Dallara, managing director of the IIF.

Politico—Feeding the body and mind (opinion)
George McGovern writes in the Capitol Hill newspaper Politico that U.S. development initiatives, especially programs that stress accountability and transparency such as the Millennium Challenge Corporation, need to be strongly supported by the U.S. Congress through the economic downturn. He writes, “To generate an even greater impact in the fight against poverty and hunger, a more effective, collaborative and coordinated effort across various U.S. agencies and goals is absolutely essential. At a time of severe economic crisis, investing U.S. development dollars toward these effective outcomes is a sustainable strategy to create a world free from hunger and poverty. Let us support the new administration in remaking foreign aid with greater accountability.”

Daily Independent (Lagos, Nigeria)—Nigeria Collaborates With Others Over Tuberculosis Eradication
Nigeria and 26 other tuberculosis-endemic nations have agreed to urgently address the threat of Multi Drug Resistant Tuberculosis, described as a great menace to global public health security. The declaration was made when ministers from 27 TB-burdened countries met last week in Beijing, China, to address the alarming threat of the disease.

Christian Science Monitor—What Africa’s farmers need now: fairness
A columnist writing in the Christian Science Monitor says that more than anything, Africa’s farmers need access to secure storage areas where they can safely store their crops and avoid quickly selling them at rock-bottom prices, which is financially devastating to their enterprise. In addition, the agricultural sector needs transparently governed marketing associations that can help farmers act aggressively to identify buyers for their crops.

Wall Street Journal—Presto: Another $750 Billion (opinion)
An editorial in the Wall Street Journal criticizes the commitment made at this month’s G20 summit to increase International Monetary Fund resources by $750 billion. The paper writes, “The U.S. portion of this new commitment is more than $140 billion. Yet Congress has debated neither the amount nor the proposed use of the funds. Instead, President Obama and his fellow leaders simply waved their hands and said make it so.” The paper calls for more transparency from the administration and more oversight from Congress for what it calls “a massive expansion in U.S. foreign aid.”

Sowetean (South Africa)—‘Schooling Africa’s future leaders’
A school with lofty ambitions has recently opened in Johannesburg—its goal is to educate future leaders for the whole of Africa. The African Leadership Academy, launched just six months ago, has taken thousands of applications from 40 African countries, with only 100 spots open. “The greatest need we have in Africa is better leadership if we are to achieve our full potential,” says academy CEO Fred Swaniker.

-Steve Wilson

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