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J. Gregory Dees

By combating malaria with mosquito nets or building schools and providing basic sanitation, philanthropy is helping transform the developing world. Rich donors are devoting fortunes—many of them earned through computer software, entertainment, and venture capitalism— to defeating poverty and improving lives, supplementing and in some cases surpassing official aid channels.From billionaires Bill and Melinda Gates and Warren Buffett to Aliko Dangote and George Soros, the titans of capitalism are backing good causes with their cash. Whether financing new vaccines, building libraries, or buying up Amazon rain forest to protect the environment, philanthropists are supporting innovations and new approaches that are changing lives and building dreams.This issue of F&D looks at the world of targeted giving and social entrepreneurship.“ Philanthropy’s role is to get things started,” says Microsoft co-founder Bill Gates, who is the world’s most generous giver. “We used foundation funds to set up a system to make market forces work in favor of the poor.” He says that catalytic philanthropy can make a big difference. “Good ideas need evangelists. Forgotten communities need advocates.” Former U.S. President Bill Clinton tells us that networks of creative cooperation between government, business, and civil society can get things done better to solve the world’s most pressing problems.Also in this issue, Prakash Loungani profiles superstar economist Jeffrey Sachs, who helped campaign for debt relief for developing economies and championed the Millennium Development Goals. We look at how, instead of spending commodity price windfalls on physical investments, which are often sources of corruption, governments of poor countries are sometimes well advised to hand some of the income over to their citizens. We examine moves by major central banks to ease our way out of the crisis enveloping advanced economies in our Data Spotlight column, and we hear about how China’s growth inspires creativity in the West.

Roger Leeds, Camille Sitou, Cotonou Benin, Mohammed Tahraoui, Boubakar Amadou, Brice Hilaire Kemguem, and Ngaoundéré Cameroon

The June 2007 issue of F&D spotlights gender equality. The lead article discusses progress toward fulfilling the Millennium Development Goal (MDG) on redressing gender discrimination and empowering women and related MDGs. The section also looks at how budgeting with gender issues in mind can help countries promote gender equality and what needs to be done to get girls from 'excluded' social groups into school. Other articles focus on Asia 10 years after the financial crisis, the implications of China's and India's growing ties with Africa, and making remittances work for Africa. 'Country Focus' looks at the challenges facing Bulgaria now that it has joined the European Union, 'Picture This' highlights the globalization of labor, and 'Back to Basics' gives a primer on microfinance. Two other pieces discuss the efficiency of public spending in Latin America and how countries can use the public sector balance sheet approach to diagnose vulnerabilities that are not immediately visible in the budget.

International Monetary Fund

Burkina Faso’s request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility is discussed. The proposed new Poverty Reduction and Growth Facility (PRGF) program would help anchor macroeconomic stability and support Burkina Faso’s poverty reduction and growth strategy. Macroeconomic performance under the previous PRGF arrangement has been good. Average real GDP growth has been above 6 percent, inflation has been low and stable, and the current account has improved. Increasing domestic revenues would create fiscal space for poverty-reducing expenditures while keeping debt sustainable.

International Monetary Fund
This Status Report discusses preparation of the Poverty Reduction Strategy Paper (PRSP) on Central African Republic. The government has decided to design an interim strategy (the Economic and Social Policy Framework Document – Document cadre de politique économique et sociale—DCPES) while waiting for the PRSP to be finalized. Multiyear macroeconomic projections and the annual fiscal framework will match resource allocations with PRSP objectives and programs. The PRSP will be implemented in a stable macroeconomic policy framework, and medium-term expenditure management will focus on poverty reduction and economic recovery.
International Monetary Fund
The economic performance has been positive as tight macroeconomic policies prevailed, helped by a remarkable revenue mobilization effort. None of the key indicator targets were met. Fiscal performance improved, but there was an increase in the overall fiscal deficit. Monetary policy was also less expansionary. Efforts were sustained to strengthen the justice delivery system. The long-term goal is to eradicate poverty by significantly increasing the national income, through stable economic growth, and reducing income and non-income inequalities through specific poverty-reduction priority interventions.
International Monetary Fund. External Relations Dept.
El Boletín del FMI aborda de manera específica el trabajo del FMI y los grandes temas macroeconómicos y financieros internacionales y ofrece análisis sobre la evolución en los distintos países y regiones y en el mundo; información sobre las operaciones, políticas, reformas y asistencia técnica del FMI; síntesis de las principales investigaciones económicas mundiales; datos fundamentales que no suelen estar disponibles en otras fuentes, e informes sobre debates económicos y financieros que tienen lugar dentro y fuera del FMI. Este boletín de 16 páginas, publicado 12 veces al año, está orientado a una vasta audiencia, que incluye autoridades de política económica, analistas, profesionales del mundo académico y de los medios de difusión y estudiantes. Disponible en inglés, español y francés.
International Monetary Fund. External Relations Dept.
En mettant l’accent sur le travail du FMI et sur les grandes questions macroéconomiques et financières internationales, le Bulletin du FMI présente une analyse des développements nationaux, régionaux et mondiaux, des informations sur le travail, les politiques, les réformes et les activités d'assistance technique du FMI, les conclusions d'études de calibre mondial, des données essentielles qui ne sont souvent pas disponibles ailleurs, ainsi que des rapports sur les discussions économiques et financières au sein du FMI et ailleurs. Publié douze fois par an, ce bulletin de seize pages s'adresse à un large public : dirigeants, analystes, chercheurs, étudiants et journalistes. Disponible en anglais, français et espagnol.
International Monetary Fund. External Relations Dept.
IMF work program; de Rato in Australia, New Zealand; Improving the IEO; Swaziland, Philippines briefs; Inequality in Panama; Namibia: poverty and inequality; Gabon: post-oil era; Growth in Indian states; HIV/AIDS effect; China and India: emerging giants.
International Monetary Fund
The Kingdom of Lesotho’s Poverty Reduction Strategy Paper reports that consistent implementation of sound macroeconomic policies is critical to the attainment of poverty reduction objectives. At the central level, the authorities established sector working groups to facilitate the formulation of informed policies that respond to the identified priorities. To deal with cross-cutting issues, thematic groups have been established. The private sector, despite weak organizational capacity at the beginning, made a significant contribution to the preparation of the Poverty Reduction Strategy.