South Court Auditorium 1:41 P.M. EDT THE PRESIDENT: Good afternoon. Today, the Vice President and I would like to lay out our plan for June, to counter
Carnegie Endowment for International Peace
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Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also makes these countries part
Biden
RACINE â By beefing up the Internal Revenue Services to go after billionaires who arenât paying their share of taxes through loopholes and other methods of dubious legality, President Joe Biden aims to fund massive new spending plans to help the nation see the light at the end of the COVID-19 pandemic tunnel.
Steil
But U.S. Rep. Bryan Steil, R-Wis., and other Republicans arenât buying it: They donât think itâll be possible to recoup as much as $6 trillion in new spending in 2021 the Biden administration is considering in 2021 alone.
âI look at what the Biden administration is proposing: The spending side is $6 trillion new spending this year â thatâs unreasonable. Itâs not focused. Itâs going to have a lot of inefficient, wasteful spending associated with it,â Steil said during a phone call Thursday afternoon, less than 24 hours after Bidenâs primetime 100th day address.