Rathin Roy: Failing to finance development

Rathin Roy

The recently concluded Addis Ababa financing for development "summit" was, as widely predicted, a damp squib. The United Nations (UN) communications machine, prone to hyperbole in inverse proportion to results for many years now, hailed the summit as "groundbreaking". This would be amusing were it not the case that the banality of the Addis outcome document reflects even more acutely the continued unwillingness of the developed world to take the issue of financing for development seriously. Financing for development is now akin to the problem of food security. The world ...