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*We are grateful to Gordon Smith, Greg Chin, Ninghua Zhang, Andrew Cooper, Daniel Schwanen, Badye Essid and Sean Walsh for comments and discussion. We acknowledge support from the Ontario Research Fund and the Centre for International Governance Innovation (CIGI). This chapter reflects the personal views of the authors and not necessarily those of the institutions with which they are affiliated.
1Something like this seems to have happened in India leading to the slowdown since the middle of the first decade of the 21st century.
2These promises seem to be like New Year’s Resolutions which are soon forgotten.
3These organisations are FAO — Food and Agriculture Organization, IFAD — International Fund for Agricultural Development, IMF — the International Monetary Fund, OECD — the Organization for Economic Cooperation and Development, WFP — the World Food Program, WTO — the World Trade Organization, IFPRI — the International Food Policy Research Institute, and UNHLTF — the UN High-Level Task Force.
4A claim also made by other analysts such as Wright (2011).
5However, Homi Kharas of the Brookings Institution in Washington D.C. holds the opposite view.
6This Fund will provide concessional balance of payments funding to low-income countries and grants for post-conflict reconstruction and disaster assistance.
7The US, however, refused to allow an assessment of its financial system by a joint IMF–World Bank mounted effort. Furthermore, most crises at that time had begun in developing countries so it seemed appropriate to concentrate on them.
8Dubey (2009) goes further to argue that the G20 is a further development of a process that has resulted in an erosion of the responsibilities of the UN, particularly its Economic and Social Council.
9It is difficult to see how the current G20 could evolve into such a body. The G20 finance ministers group, the precursor of the current G20 at the leaders’ level, was the result of negotiations between the US and Mr. Paul Martin the then Canadian Finance Minister (Martinez-Diaz, 2009).
10A similar criticism has been levelled at the Integrated Framework for Trade Related Technical Assistance. Various evaluations of the programme have noted that the concentration on merely studies with no scope for investments to deal with the identified shortcomings has been a weakness of the programme. Developing countries were very disappointed with this aspect of the programme. See evaluation by the Independent Evaluation Group of the World Bank of the Bank’s Global Programmes.
11The G20 have asked for generous replenishment of the resources of the MDBs. But there seems to be no progress towards increasing such resources.
12Lack
