A panel of experts on global development gathered today at the University of Pittsburgh to talk about the needs of the economies that will not be represented at the G20 Summit. The panel members agreed that developing nations must have a guiding voice in determining how foreign aid is distributed. Tim Adams, former undersecretary of the U.S. Treasury cautioned that all too often, the leaders of poor countries sit back and allow industrialized nations to run the show.
Dr. Nancy Birdsall, president of the Center for Global Development says they’ve been pushing for the US and Europe to give up their lock on appointing the heads of the IMF and World Bank, so that leaders of emerging economies have a chance to make key decisions. She also says they are advocating for a “cash-on-delivery-aid” where foreign aid is paid to developing countries when they can show measurable progress.
Meanwhile, David Lane of Bono’s ONE organization acknowledged that it may be hard Americans facing financial hardship to recognize their connection with poor people in Africa. But beyond the moral argument, Lane says it is in everyone’s interest to have strong global economies with healthy, educated populations.