Impacts and Influence

Unlocking the $1 Trillion Developing Countries Need to Cope with the Crisis

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The 2008 global financial crisis started in the United States but hit developing countries hard with reduced exports, remittances, and access to credit. Ahead of the London G-20 summit, Nancy Birdsall published a CGD policy note How to Unlock $1 Trillion Developing Countries Need to Cope with the Crisis. UN Secretary-General Ban Ki-moon picked up the call, and the G-20 included the pledge in their Summit communiqué.

Birdsall later testified before the US Congress, helping to unlock the country’s contribution to the global relief and stimulus package.