The Wall Street journal today carried an op-ed piece which succinctly captured why India has been and remains the greatest foreign aid sinkhole imaginable. In their splendid piece “India Has a Caste System – for Drivers“, Shan Li and Aakash Hassan. I won’t spoil your read but this sentence captures the essence and the absurdity:…
Author: Joe Rogers
Joe O. Rogers served as Ambassador to the Asian Development Bank under Pres. Ronald Reagan. He also served as Executive Director of the House Republican Conference and Chief of Staff to Cong. Jack F. Kemp. Amb. Rogers was a foundation director and chairman of both The China Fund Inc. (NYSE:CHN) and The Taiwan Fund Inc. (NYSE:TWN). He has taught economics and finance at the MIT-Fudan International MBA Program in Shanghai, Wake Forest University, The University of Western Australia and Duke University. He earned a Ph.D. in Economics at Duke University.
Global Development Cartel in Full Dungeon – World Bank Chief Economist Says: Not So Fast
The global development cartel is in full dungeon over the prospect of the U.S. waking up to the impossibility of reforming the international development agencies. They fear most that U.S. taxpayers will realize that if the U.S. withdraws, they will get a refund of $70 billion. World Bank officials meeting in Pakistan this week made…
Thank You for Your Comment – and for proving my point
I was happy to receive a thoughtful comment on my post “How to DOGE $7 Billion”. It was anonymous but polite and thoughtful so it deserves a polite and thoughtful answer…in a post not in the Comment section where it will never be seen. The first part of the comment was as follows: This concerns…
Will the Second Trump Treasury Choose Taxpayers or the World Bank?
When it comes to the World Bank and other multilateral foreign aid organizations, the first Trump administration does not give us confidence that taxpayers won’t be burdened with more pain in the second. In 2018, Treasury Secretary Mnuchin agreed to a major increase in the capital of the International Bank for Reconstruction and Development. It…
DOGE Poster Child for Waste: The World Bank
As DOGE reviews all federal spending for wasteful, failed programs, it should train its focus on the myriad failures of foreign aid. There are few better examples of expansion in the face of continued failure. The World Bank is our poster child. In his Message from the President in bank’s 2024 annual report, the World…
DEI is Alive and Well at the World Bank
Despite the removal of DEI policies, personnel and offices in U.S. federal departments, these are alive and thriving at taxpayer expense at the World Bank and other multilateral development banks. Just a few examples of publications and job postings tell the story: World Bank DEI Report World Bank Group Gender Strategy 2024-2030 IMF Policy Paper:…
$4 Billion More to The World Bank: Thanks, Janet!
On her way out the door, former Secretary of the Treasury Janet Yellen pledged American taxpayers to an additional $4 billion for the World Bank’s International Development Association. – known as IDA21. This is on top of the $3.5 billion contribution she pledged and was authorized by Congress in 2023 for IDA20. IDA is one…
How to DOGE $70 Billion
$70 billion sounds like a large number. Even in Washington. However, simply by withdrawing from the multilateral development banks – such as The World Bank – that’s how much would be returned to U.S. taxpayers. And it is easy to do. The Articles of Agreement for the International Bank for Reconstruction and Development – the…
Welcome to Tracking DOGE
We are pleased to contribute a few ideas to the DOGE effort led by Elon Musk of the Department of Government Efficiency, Congressmen Aaron Bean (FL-04) and Pete Sessions (TX-17), leaders of the House DOGE Caucus, and Senator Joni Ernst (R-Iowa), leader of the Senate DOGE Caucus. What is necessary for DOGE to succeed is…