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The ABCs of the post-COVID economic recovery

The economic activity of the U.S. has plummeted in the wake of the coronavirus pandemic and unemployment has soared—largely the result of social distancing policies designed to slow the spread of the virus. The depth and speed of the decline will rival that of the Great Depression. But will the aftermath be as painful? Or…

       




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The role of multilateral development banks in supporting the post-2015 development agenda


Event Information

April 18, 2015
10:00 AM - 12:00 PM EDT

Falk Auditorium
Brookings Institution
1775 Massachusetts Avenue, N.W.
Washington, DC 20036

The year 2015 will be a milestone year, with the adoption of the Sustainable Development Goals (SDGs) and the post-2015 development agenda by world leaders in September; the Addis Ababa Accord on financing for development in July; and the conclusion of climate negotiations at COP21 in Paris in December. The draft Addis Ababa Accord, which focuses on the actions needed to attain the SDGs, highlights the key role envisaged for the multilateral development banks (MDBs) in the post-2015 agenda. Paragraph 65 of the draft accord notes: “We call on the international finance institutions to establish a process to examine the role, scale, and functioning of the multilateral and regional development finance institutions to make them more responsive to the sustainable development agenda.”          

Against this backdrop, on April 18, 2015, the Global Economy and Development program at Brookings held a private roundtable with the leaders of the MDBs and other key stakeholders to discuss the role of the MDBs in supporting the post-2015 development agenda.

The meeting focused on four questions:

  1. What does the post-2015 development agenda and the ambitions of the Addis and Paris conferences imply for the MDBs?

  2. Given the ability of the MDBs to leverage shareholder resources, they can be efficient and effective mechanisms for scaling up development cooperation, particularly with respect to the agenda on investing in people and to the financing of sustainable infrastructure. New roles, instruments and partnerships might be needed.

  3. How can MDBs best take advantage of the political attention that is being paid to the various conferences in 2015?   

  4. The World Bank and selected regional development banks have launched a series of initiatives to optimize their balance sheets, address other constraints and enhance their catalytic role in crowding in private finance. And new institutions and mechanisms are coming to the fore. But the responses are not coordinated to best take advantage of each MDB’s comparative advantage.

  5. What are the key impediments to scaling up the role and engagement of the MDBs?

  6. Views on constraints are likely to differ but discussions should cover policy dialogue, capacity building, capital, leverage, shareholder backing on volume, instruments on leverage and risk mitigation, safeguards, and governance. 

  7. How should the MDBs respond to the proposal to establish a process to examine the role, scale and functioning of the multilateral and regional development finance institutions to make them more responsive to the sustainable development agenda?   

  8. A proactive response and engagement on the part of the MDBs would facilitate a better understanding of the contribution that the MDBs can make and greater support among shareholders for a coherent and stepped-up role.

Event Materials

      
 
 




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When the champagne is finished: Why the post-Paris parade of climate euphoria is largely premature

The new international climate change agreement has received largely positive reviews despite the fact that many years of hard work will be required to actually turn “Paris” into a success. As with all international agreements, the Paris agreement too will have to be tested and proven over time. The Eiffel Tower is engulfed in fog…

       




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The post-Paris clean energy landscape: Renewable energy in 2016 and beyond

Last year’s COP21 summit saw global economic powers and leading greenhouse gas emitters—including the United States, China, and India—commit to the most ambitious clean energy targets to date. Bolstered by sharp reductions in costs and supportive government policies, renewable power spread globally at its fastest-ever rate in 2015, accounting for more than half of the…

       




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In Cuba, Obama looks to the post-Castro era


Editors’ Note: The odds of wringing short-term concessions from Cuba's proud and nationalist leaders are stacked against Obama, Richard Feinberg and Ted Piccone believe. They argue the trip should be judged by its ability to expand constituencies in both countries who want a more open and prosperous Cuba. This post originally appeared on Huffington Post.

President Obama's decision to make a historic visit to Cuba later this month is about more than U.S. politics or business opportunities on the island. It's a bold bet that

presidential diplomacy can secure a new normal in U.S.-Cuba relations after over five decades of hostilities, embargoes and gridlock.

Based on our years of analysis and policymaking in and out of government, we believe the odds of wringing short-term concessions from Cuba's proud and nationalist leaders are stacked against Obama. We also believe, however, that that is the wrong metric. Rather, this trip should be judged by its ability to expand constituencies in both countries who want a more open and prosperous Cuba.

To that end, Obama should draw on his extraordinary rhetorical skills to paint a vision for both Cubans and Americans of a future attractive enough to persuade the island's citizens, especially its ambitious and talented millennials to remain on the island and for the resourceful Cuban American diaspora to invest in that vision. This promise of a Cuban renaissance should include one where citizens freely exercise their chosen professions, engage directly with a transparent and accountable government, have access to the global internet, and travel abroad routinely for family and business purposes.

To help shape such a future, the U.S. delegation should engage not only with Cuba's historic revolutionaries but also with its next generations of public and private leaders from across Cuban society. The White House can also use the visit to leverage Obama's immense popularity on the island to speak directly to the Cuban people about their aspirations for a brighter future.

Given the longstanding feuds between our two countries, however, it will take longer than a year or two to unwind the accumulated distrust and build support for this new normalcy. On the U.S. side, major sectors have swung clearly in favor of normalization - business and agricultural interests, human rights and religious groups, and the broad swath of U.S. citizens keen to know Cuba after decades of isolation. Even majorities of Cuban-Americans and Hispanic voters favor engagement over the embargo.

These constituencies, however, are not yet strong enough to persuade Congress to lift the embargo. And Havana has done little so far to address the major sticking points in Washington's list of legitimate grievances, particularly in the key areas of human rights and economic reforms.

On the Cuban side, Raúl Castro recognizes that Cuba's ability to protect the social gains of the revolution depends on normalizing its participation in the global economy. Its economy badly needs the injection of U.S. commerce, professional exchanges and tourism that would flow readily once the embargo is lifted. Family-run businesses, farmers, young people and professionals in sectors like software and biotechnology also stand to gain from these changes.

Notably, many of those fighting for a more pluralistic Cuba applaud Obama's decision to declaw the embargo as a political shield for government hard-liners; it helps their cause for a more honest debate at home about how to reform Cuba's outdated model of state-centric development and to make government more accountable to its citizens.

The visit offers both presidents a rare opportunity to demonstrate to these various stakeholders that change is not one-sided but a mutual accommodation. There is nothing like a presidential visit to move bureaucracies and catalyze action.

For example, the visit could accelerate progress toward easing the embargo. Already, new rules encourage trade with the emerging private sector and with some state-owned enterprises. Cuba should now take steps to facilitate such commerce and stop insisting that all sanctions be lifted first.

As important, the two sides should expedite resolution of outstanding U.S. property claims dating back to the early 1960s, a key congressional condition for lifting sanctions. Prompt resolution of these cases would automatically create powerful constituencies in the United States for repealing the embargo and signal to foreign investors that Cuba is prepared to respect property rights and the rule of law. They could also demonstrate a willingness to resolve longstanding claims for compensation for citizens killed in hostilities during the Cold War.

In anticipation of next month's Cuban Communist Party Congress, President Castro can detail his plans to decentralize power, empower the legislature and reform the electoral system.

The precise timing of Obama's visit - just one month before the Party Congress - may signal that Raúl Castro and his pragmatic followers welcome a friendly nudge to recharge the reform process they launched in 2008. It also underscores how little time remains before Americans elect a new president who could reverse steps taken so far with the stroke of a pen. That is the kind of marriage of short and long-term interests that allow wise presidents to make history, and the ultimate test for assessing whether the Obamas' trip is serious business, or just family fun.

      
 
 




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It is a giant electric radiator that they forgot to turn on due to a software failure.




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Op-ed: How the US can win the post-coronavirus race for global dominance

Beijing could still leverage its first-mover advantage – alongside a faster economic recovery across Asian markets – accelerating the trend toward a Chinese-centric globalization, writes Fred Kempe.




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Relive the post-group stage press conference

The 2017 FIFA Confederations Cup enters its final stage and Colin Smith (FIFA Chief Competitions & Events Officer), Alexey Sorokin (2018 FIFA World Cup Russia Local Organising Committee CEO) and Massimo Busacca (FIFA Head of Refereeing) discussed different topics with the Media.




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Santiago Solari, Manager of Real Madrid attends the post match press conference 

ABU DHABI, UNITED ARAB EMIRATES - DECEMBER 19: Santiago Solari, Manager of Real Madrid attends the post match press conference after victory in the FIFA Club World Cup semi-final match between Kashima Antlers and Real Madrid at Zayed Sports City Stadium on December 19, 2018 in Abu Dhabi, United Arab Emirates. (Photo by David Ramos - FIFA/FIFA via Getty Images)




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Coronavirus outbreak: Even in crisis, the postman always delivers

The lockdown seems to have brought out the good side of many. Staffers of the Indian postal department have gone out of their way to ensure that elderly get their pension, senior citizens can withdraw postal savings, the differently-abled get their stipend, and hospitals get their medicals kits. Some have even contributed to ensure food for the poor.

MID-DAY spoke to some of these heroes in Navi Mumbai Postal Region, which has 1,514 post offices in Thane, Palghar, Nashik, Malegaon, Navi Mumbai and Raigad districts.

"My dedicated team is working relentlessly to provide essential services to citizens. They are instructed to follow safety rules like using masks, sanitisers and physical distancing," said Shobha Madhale, postmaster general, Navi Mumbai Region.


Shobha Madhale, postmaster general, Navi Mumbai 

Madhale added, “When we learnt that no public transport was available from March 23, we quickly came up with a plan. Directives were issued to postal officials at district levels, to ensure that adequate cash was made available at post offices, and a postal assistant to visit senior citizens, the differently-abled or pensioners at their homes and hand over cash,” she said.

Also directives were issued to ensure that all postal ATMs had cash daily and that delivery of essential items, medicines, kits and medical instruments were given priority.

Surprised by kindness

Kedare Jayram, 76, pensioner from Nashik

“My father retired as a jamadhar (senior peon) at the Niphad post office, Nashik. Ours is a joint family and it is his monthly pension of R12,000 that is a major source of income for the family even today,” said his elder son Manoj, who works with a gas agency at a monthly salary of R7,500. During the lockdown we were worried about our father going to the post office for his pension. “I was surprised by the kindness of the postal department who sent a postal assistant home with my pension,” said Kedare Jayram.


Kedare Jayram receives his pension from postal assistant Pradip Bhandwalkar

Hero

Pradip Bhandwalkar, 32, postal assistant, Niphad Post Office

“The last day of the month, pensioners usually get their money in their postal savings account. I visited the pensioners’ homes with a withdrawal slip taking all directed precautions. I took their signature on the slip, returned to the post office a few kilometres away and came back with their money. Would he continue this after lockdown? “I would love to. It gives me pleasure and satisfaction,” Bhandwalkar said.

Sushilatai thrilled

Sushila Patil, 90, Rayande Chari, Alibaug

She is blind and is bed-bound most of the time. Her sons live outside Alibaug and her daughter takes care of her. She was happy to get R8,300, which was sent in two money orders from the treasury department.

Mehraj Ausekar with Sushila Patil at her home

Hero

Mehraj Ausekar, 51, a postman at Poynad post office in Alibaug

He said, “I visited Sushila two days ago and saw that she is too weak and old. She gave her thumb impression on the receipt of the money order payment,” said Ausekar. “I will continue to visit Sushila with her money orders. I get satisfaction in doing something for senior citizens,” he added.

Boss hits the ground

Vitthal Hatankar, 96, pensioner, Brahmin Ali, Alibaug

“My father was the postmaster at Alibaug post office and retired in 1984. Since the lockdown I, too, was unable to collect his pension,” said Abhay Hatankar, 55, the son. “We were surprised and happy to see postmaster general, Anuradha Penkar herself coming home to hand over the pension,” said Hatankar senior.

Vitthal Hatankar with the postmaster of Alibaug post office

Hero

Anuradha Penkar, 60, is due to retire in October

“We have around 68 senior citizens staying in and around Alibaug. We went to all their houses and gave them their pensions,” said Anuradha. “I also visited two of them staying 10 km away in Awas. They were all surprised and pleased,” she said.

Grateful to donors

Kesav Satpute, 32, pharmacy officer, Tembha Hospital, Bhayandar West

“I was on duty on April 17, when the staff of Bhayander post office visited the hospital with five cartons from Dr Pratik Jain of Delhi, who has donated 100 PPE kits for our staff,” Kesav said, adding, “We have about 100 COVID patients and apart from regular supply of PPE kits and medicines from Mira-Bhayander municipality, we are grateful to donors like Dr Jain for these PPE kits. Due to the lockdown the postal team themselves had got the parcel in their tempo and we were touched by their wonderful gesture.”


Staff from Bhayandar post office with the PPE kits that they delivered to Tembha hospital

Hero

Subhas Churi, 60, postal department staffer

“I usually do sorting and packing work at the Bhayander post office, but due to the lockdown I decided to deliver parcels received from Mumbai airport cargo at the earliest,” said Churi. When asked if he knew he was entering a COVID dedicated hospital, Churi said, “I am told that those who fear COVID are prone to get infected, and therefore I keep my fear at bay. I know I am serving those who are treating the most vulnerable patients.”

The numbers

Collection and delivery of payments by Navi Mumbai Region (1,514 posts offices) from March 23 to April 30

  • No. articles booked – 4,572
  • No. of articles delivered – 16,333
  • Savings Bank Payments – 1,18,893, Withdrawals – Rs 228.75 crore
  • Money Orders Paid: 2,064 Amount: Rs 42,67,913
  • Aadhar enabled payment system (AePS) – No. of transactions: 22,116 Amount paid – Rs 5,13,29,520/-
  • Personal contribution by postal staff in Navi Mumbai region: Rs 2,16,000

Info, courtesy: PMG, Navi Mumbai region

Postal staff cooks for needy

Nearly 1,180 packets were distributed by Palghar postal division to migrants and daily wagers and their children on April 4 and April 20, at Pelhar village, Vasai, Mahim Manor highway and other places in Palghar. The money came from contribution by staffers.

Catch up on all the latest Mumbai news, crime news, current affairs, and a complete guide from food to things to do and events across Mumbai. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news




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One Stock that is All Charged Up for the Post Coronavirus Rebound

Posted by Equitymaster
      

A stock with strong moat is currently trading near 5-year lows.... [Read On]




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Vijay's Bigil: Here are the posters of trailer release

Check out the promotional materials of the trailer release of Vijay's Bigil.




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Shaping the post-crisis global economy

There is no simple remedy for fixing the post-crisis global economy. But three key ingredients for sustainable long-term growth are jobs, equality and trust, said OECD Secretary-General in Washington.




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The post-2015 agenda must steer a transformational shift towards sustainable development

As the Millennium Development Goals (MDGs) approach their expiry date, we must focus our efforts on ensuring a brighter, more inclusive and sustainable future for all. We face a plethora of common issues: growing inequalities; changing consumption patterns and population dynamics; increasing natural resource scarcity; and ongoing illicit financial flows.




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The post-2015 agenda must steer a transformational shift towards sustainable development

As the Millennium Development Goals (MDGs) approach their expiry date, we must focus our efforts on ensuring a brighter, more inclusive and sustainable future for all. We face a plethora of common issues: growing inequalities; changing consumption patterns and population dynamics; increasing natural resource scarcity; and ongoing illicit financial flows.




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There is no simple remedy for fixing the post-crisis global economy. But three key ingredients for sustainable long-term growth are jobs, equality and trust, said OECD Secretary-General in Washington.




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Major global crises such as the 2008-09 episode are mercifully rare, but severe recessions have been quite frequent among OECD countries over the past four decades.




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Current weak labour productivity growth in many OECD countries reflects historically weak contributions from both total factor productivity (TFP) growth and capital deepening.




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After peaking in the first half of 2008, international imbalances declined sharply during the global crisis of 2008-09, in part reflecting cyclical factors such as large contractions in domestic demand on the back of bursting housing bubbles in a number of deficit countries, as well as large declines in cross-border capital flows, interest rates and commodity prices.




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UK Weather: It's the post-Christmas heatwave! Temperatures in Britain could reach 59F today

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Hilarious moment owl 'delivering a letter' refuses to let go of the post

In a clip, filmed by ornithologist Nika Zubra, the Eurasian eagle-owl is seen waiting outside the window of a room in Moscow, Russia with a letter held in its beak.




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Elle Fanning gives the FINGER on the poster for Hulu's fictionalized biopic on Catherine the Great

The Georgia-born 22-year-old executive produces and stars in The Great, which centers on Prussian Princess Sophie of Anhalt-Zerbst's transformation into Russia's longest-ruling female leader (1762-1796)




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Rich kids Instagram show how they deal with the post-break slump 

While most of us Britons are battling high winds, grey skies and a dreary morning commute, the Rich Kids Of Instagram across the world are having no such problems.




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The £900,000 cheques really ARE in the post as 17,000 donate to Mail Force drive for PPE

An incredible 37,000 Daily Mail readers have donated £1.6million to supply protective kit for frontline NHS and care staff. Total expected to pass £2million as 4,000 letters are still to be opened.




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How Marcus Rashford became the poster boy of Man United's turnaround under Ole Gunnar Solskjaer

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ALEX BRUMMER: Britain needs a plan for the post-Covid era

As a nation in lockdown commemorated VE-Day, here is something to ponder. In the midst of the War, policymakers in Britain and around the world were deep in planning for the peace.




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ALEX BRUMMER: Britain needs a plan for the post-Covid era

As a nation in lockdown commemorated VE-Day, here is something to ponder. In the midst of the War, policymakers in Britain and around the world were deep in planning for the peace.




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What the Postponement of the Olympics Means for Athletes

The global spread of coronavirus has led to officials postponing the 2020 Tokyo Olympic Games. For athletes, the delay evokes mixed emotions. WSJ spoke to five athletes from around the globe to understand what the postponement means to them. Photo composite by George Downs




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Coming to terms with the post-Corona world

Even if you are living under a rock somewhere, you have heard of Covid-19, or Corona, as it is being called fondly. Those ubiquitous mediums of information, internet and smartphones, have ensured that we get...




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Cham : Springer, [2019]




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The postwar origins of the global environment: how the United Nations built Spaceship Earth / Perrin Selcer

Barker Library - GE195.S385 2018




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Dewey Library - HC60.S54 2019




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Dewey Library - JZ1238.R8 L43 2018




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Contesting Peace in the Postwar City: Belfast, Mitrovica and Mostar.

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Abuses of the erotic: militarizing sexuality in the post-Cold War United States / Josh Cerretti

Dewey Library - JZ6405.W66 C47 2019




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Dewey Library - HN223.5.P37 2019




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Social media and the post-truth world order: the global dynamics of disinformation / Gabriele Cosentino

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WIRED – August 2015 Issue Preview – Welcome to the Post Natural World

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Parables of the posthuman: digital realities, gaming, and the player experience / Johathan Boulter

Hayden Library - GV1469.34 .P79 B68 2015




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The postmodern joy of role-playing games: agency, ritual and meaning in the medium / René Reinhold Schallegger

Hayden Library - GV1469.6.S33 2018




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Iran without borders : towards a critique of the postcolonial nation / Hamid Dabashi

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The doubt of the apostles and the resurrection faith of the early church : the post-resurrection appearance stories of the Gospels in ancient reception and modern debate / J.D. Atkins

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