On Wednesday, the International Monetary Fund (IMF) announced it would increase lending to low-income countries to help contend with the global economic crisis. The IMF is expected to provide up to $17 billion to these countries through 2014, including up to $8 billion over the next two years. Additionally, the IMF said that these countries would not be required to pay interest on any IMF loans, including outstanding through 2011.
We’re watching Secretary Clinton’s remarks at the Council on Foreign Relations, and wanted to share with you some remarks on global development delivered just moments ago. We’ll work on bringing you additional info as it comes in (you can stream the webcast in the below post):
Two news updates from the Chronicles of Philanthropy sum up much of the reaction to President Obama’s 2010 budget from U.S. international development and advocacy NGOs. The headline from the first, which ran yesterday, reads “Global Health Groups Upset by President’s Budget Proposal.” Today, the second ran.
Today, President Obama and his Administration released their budget request to Congress for the fiscal year 2010. This gives us a look at the President’s priorities for the year and sets the tone for the Congressional debate about how much money will actually be appropriated. The numbers have just been released and so that is what we have posted here. We will release our reactions and commentary soon. Overall though, a $2.9 billion increase in the key development accounts that ONE monitors.