WASHINGTON, DC – Whenever the world’s financial and political leaders convene – whether at the G20 summit, the United Nations General Assembly, or the International Monetary Fund and World Bank annual meetings – the most urgent development challenges are nearly always on the agenda. Increasingly, the solution these leaders propose to such problems, from poverty alleviation and public-health crises to climate change and the energy transition, is more financing.
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James Livingston asks why so many observers now believe that institutions central to modern economies are running a con game. They are not wrong. Addressing each of these challenges requires more than a trillion dollars. For example, Latin America and the Caribbean need $2.2........