Asian Development Bank - hindering or helping?

As Treasurer Wayne Swan arrived home from the G20 Finance Ministers meeting in London, the Australian Government is preparing to follow through on a commitment it made at the last G20 meeting in April.

This will see it provide additional funding for international financial institutions such as the IMF and the Asian Development Bank (ADB). The question for Australia now is to ensure that this money serves its intended purpose.

On the face of it, the G20’s decision to channel more money through international institutions in a bid to avert the worst of the global financial crisis makes sense. International financial institutions have a global reach which allows countries in need of resources to access them.

However, it can’t be assumed that resources channelled through international financial institutions are automatically well spent. Click to read more...