You Might Also Like: The Hidden Economics of Remarkable Women (HERO)
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🗓️ 9 December 2024
⏱️ 28 minutes
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Summary
Introducing A Crucial Deadline for a Major Development Fund from The Hidden Economics of Remarkable Women (HERO).
Follow the show: The Hidden Economics of Remarkable Women (HERO)
As global public debt reaches historic highs, one of the key solutions is increasing the amount of funding for “concessional” loans—or ones with very good terms. That is where the World Bank’s International Development Association (IDA) comes in.
According to the World Bank, the IDA is the world’s largest source of development finance for countries most in need. It provides low-income countries with grants and loans with little to no interest.
Every three years, the IDA has to raise funds from its members: donor countries. Its final replenishment meeting, where it will announce how much money it is able to raise, will take place on Dec. 5 and 6 in Seoul. The stakes are high as this critical deadline looms.
On today’s episode of the Hidden Economics of Remarkable Women, host Reena Ninan speaks with two experts who care deeply about the IDA and financing for the world’s poorest countries. Ninan talks to Gargee Ghosh, president of global policy and advocacy for the Gates Foundation, and Mavis Owusu-Gyamfi, president and CEO of the African Center for Economic Transformation (ACET), at the Atlantic Council’s International Monetary Fund recording studio. They share their deep expertise about what really works in supporting women and girls, as well as reducing poverty.
Guests and organizations:Â
- Gargee Ghosh, president of global policy and advocacy for the Gates Foundation
- Mavis Owusu-Gyamfi, president and CEO of ACET
The Hidden Economics of Remarkable Women is a podcast from Foreign Policy, supported in part this season by the Gates Foundation, Northwestern University’s Roberta Buffett Institute for Global Affairs, and the Atlantic Council.
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Transcript
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| 0:00.0 | Hello and welcome from the atrium of the main building of the IMF. |
| 0:06.2 | This is part of the Atlantic Council's geo. |
| 0:09.4 | I'm at the IMF World Bank meetings, recording from the Atlantic Council's pop-up studio. |
| 0:14.0 | It's a great setup. |
| 0:15.0 | It's right in the middle of an enormous atrium with the large stage and hundreds of chairs set up. |
| 0:21.5 | You really have the sense that you're in the middle of it all. |
| 0:23.9 | How are you? |
| 0:24.9 | I am good and where are you based? |
| 0:26.0 | In a crowd. |
| 0:27.0 | Oh my gosh. |
| 0:28.0 | Wow. |
| 0:29.0 | So what was the trip like? |
| 0:30.8 | The two people I'm about to interview are here because they care deeply about increasing |
| 0:34.9 | financing towards the world's poorest countries, particularly as government |
| 0:39.4 | debt is reaching historic highs, and a critical funding deadline is about to pass. |
| 0:49.4 | You're listening to the Hidden Economics of Remarkable Women, a podcast from Foreign Policy. |
| 0:55.0 | I'm Rina Ninan. |
| 0:56.5 | This season, we're focused on how countries and multilateral institutions are grappling with |
| 1:01.8 | a record amount of global public debt, expected to top $100 trillion this year, according to the |
| 1:08.9 | IMF. |
| 1:10.3 | One of the biggest solutions for this debt crisis is increasing the amount of funding |
| 1:14.6 | for concessional loans, or ones with very good terms. |
... |
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