Homi Kharas - Mentions and Appearances
The idea that philanthropy, that any single individual, has enough money to affect something at a global scale is a very new phenomenon. [Most billionaires have] accumulated their wealth because the world economy is now globalized, but to sustain a globalized world economy we need to have more inclusive growth.
The IMF and the World Bank early on understood that the crisis and the economic recession … would be very broad and very deep . . . [Their push on the G20 to suspend debt payments for dozens of low-income countries] was the first major step in ensuring that the pandemic didn’t trigger a debt crisis that could have longer term consequences.
"We really need much more of a systemic transformation in economies. So now you see country after country coming out with recovery plans like the European Green Deal that emphasize environmental sustainability and social inclusion. There's a tremendous mindset change."
The tragedy is that because Africa is not growing fast, this collapse of the middle class could take several years to recover.
Whatever the approach, poor countries will need help from developed ones. Rich countries have spent a stunning $8trn on supporting their own citizens during the pandemic.
Homi Kharas delivered a keynote address on development finance at Duke University’s Multidisciplinary Conference on International Development on November 15, 2018. Watch the video of Dr. Kharas’ remarks.
We are in danger right now of people giving up on the SDGs, and that is something real, and it needs to be fought against.
Homi Kharas delivered the keynote address at IFPRI’s annual staff retreat on September 12, 2018. He explored the evolving development agenda and its implications for policy research.
Education is a sector where there is almost universal consensus that it is the key linchpin for achievement of almost all of the other goals, whether you’re talking about peace, or jobs, or even health, or poverty, or livable cities, or environmental awareness...[Yet, it remains] one of the least well-funded sectors.
From 2015 to 2030 middle-class consumption worldwide could grow by $29 trillion. Only $1 trillion of that added spending, will come from the advanced economies. The rest will come from, well, "the rest."