The International Monetary Fund (IMF) recently weakened its long-held institutional support for the free flow of capital across national borders. The IMF’s new view, described most clearly in a document entitled “The Liberalization and Management of Capital Flows: An Institutional View,”[1] which was endorsed by the IMF governors in December 2012, is that temporary…

President Obama has nominated Michael Froman, deputy national security advisor for international economic affairs since 2009, to be the next United States Trade Representative (USTR). In the coming weeks, the U.S. Senate will begin the confirmation process for Froman, whose task as America’s trade czar is to “serve as the president’s principal trade advisor, negotiator,…

In an April 2 speech, World Bank President Jim Yong Kim set out the ambitious goal of ending extreme poverty within a generation.[1] Outlining a bold development agenda in advance of the World Bank–IMF spring meetings from April 19 to 21, Kim emphasized the importance of fostering “inclusive growth” and building “a science of delivery for development.” The search for a…

Trade Promotion Authority (TPA) has been a critical tool for advancing free trade and spreading its benefits to a greater number of Americans. TPA, also known as “fast track” authority, is the legislative power Congress grants to the President to negotiate reciprocal trade agreements. Provided the President observes certain statutory obligations under TPA, Congress agrees…

Hugo Chavez’s hand-picked successor, former trade union boss Nicolás Maduro, appears to have defeated Governor Henrique Capriles by a narrow margin in a contentious and hard-fought special election on April 14. Venezuela is in such shambles after 14 years of seat-of-the-pants mismanagement that Maduro—assuming his victory is confirmed—may ultimately be forced to pursue…

President Barack Obama’s fiscal year (FY) 2014 budget proposes fundamental reforms to America’s food assistance programs. Most notably, the proposal would shift funds from the Food for Peace Act (P.L. 480) to programs in the U.S. Agency for International Development (USAID). In general, these reforms are positive and echo proposals suggested by aid practitioners in…

Congress has been concerned for decades that countries receiving American foreign aid often oppose U.S. initiatives and priorities in the United Nations. A State Department annual report, mandated by Congress since 1983, on the voting practices in the U.N. General Assembly shows that the vast majority of recipients of U.S. foreign assistance routinely oppose U.S.…

The United States Senate will soon begin the confirmation process for three key Administration positions: Senator John Kerry (D–MA) for Secretary of State, former Senator Chuck Hagel (R–NE) for Secretary of Defense, and White House Chief Counterterrorism Advisor John Brennan for Director of the CIA. Each must defend his qualifications for higher office and present a…

Too often Latin America and the Caribbean fall off political radar screens in Washington. Nonetheless, geography, robust trade and investment ties, strong demographic links, and shared democratic and economic values connect Americans deeply with the region. In 2013 and beyond, the second Obama Administration and Washington policymakers of all stripes should work to…

Lobbyists for sugar growers—already forced to rely on shady arguments to persuade Congress to keep giving handouts to their clients—are facing a new P.R. problem: Twinkie production may be moving to Mexico. Hostess, the maker of Twinkies, has blamed union troubles for its bankruptcy, but other experts have pointed to U.S. government-inflated sugar prices as a possible…