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The global Covid-19 pandemic has accelerated a trend under way for the last decade: the enlistment of private-sector commercial finance for development. This finance can be brought in through (1) regular cross-border flows, (2) blended finance and (3) impact bonds. This briefing argues that intensified foreign financial inflows are likely to draw African economies further into financialisation, which increases financial instability and can undermine the democratic process, jeopardising just socio-economic development. Specifically, the short-termism of portfolio flows requires costly reserve accumulation, foreign direct investment exposes firms to demands for shareholder value generation, and external debt introduces exchange rate risk for domestic borrowers. [ABSTRACT FROM AUTHOR]

• 1997 marked the beginning of a new era in UK International Development Policy. • Unprecedented levels of support from both the Prime Minister and the Chancellor helped raise the new Department's profile both at home and abroad. • Policy coherence in Education programmes during DFID's first ten years was sometimes undermined by conflicting initiatives and priorities. The establishment of DFID and the emergence of a new policy of international development counts as one of the major achievements of the first ten years of the Labour government, 1997–2007.Clare Short's leadership brought a commitment and a vision to DFID's emerging identity, but support from Blair and Brown was also crucial in carving out a decisive role for the new Department nationally and internationally. ' Joined up government ' was an important strategy embraced by the Labour Government, with both Blair and Brown having a particular interest in development issues. The Education sector demonstrates how different initiatives helped to shape DFID's evolving policy, but were sometimes in contradiction when other policy initiatives came to the fore. [ABSTRACT FROM AUTHOR]

This paper analyzes the following aspects of global financial governance: proposed BASEL III reforms for more stringent capital requirements and their implications for the developing world in particular and Bank for International Settlements (BIS) proposals for better regulation of financial derivatives, including commodities futures, by moving away from OTC transactions towards organized exchanges. The Basel reforms and the BIS proposals for regulating the derivatives markets have many positive features. However, they have not been designed with the needs of DCs and LDCs in mind. The consequences of Basel I and II and proposed Basel III are analyzed from the perspective of the developing countries. It turns out that specific concerns of developing countries have not received adequate attention within the Basel Reform Initiatives and more can be and needs to be done. [ABSTRACT FROM AUTHOR]