The week of 16-19 May 2016 was an important week for girls and women throughout the world with the hosting Women Deliver's 4th Global Conference in Copenhagen, Denmark. It was also a milestone for our Motherhood Projects which incorporate the Alliance for Maternal Health Equality (AMHE), Safe Motherhood Week (SMW) and the Pregnancy and Medicine Initiative (PMI).
Why printing money is the simplest way to fund aid
When the financial crisis hit, aid payments were also affected and targets for global aid seemed unreachable.
When financier Michael Metcalfe’s daughter suggested printing money for aid, he initially dismissed it thinking it would simply drive inflation higher. Then one day it came to him that together the central banks of the U.S., U.K. and Japan had increased the stock of money in their economies by $3.7 trillion to save the world from the financial crisis – without driving inflation up.
In his TED talk, Michael asks why these same banks could not create a little bit more for overseas aid. His idea is that, provided they see little inflation risk from doing so, the central banks could be mandated to match governments’ overseas aid payments up to a certain limit. The extra dollars for aid would have a minimal affect on the country of origin – it would not be spent in that country, hence not impact inflation – but would bring huge benefits to the countries in receipt.
Is printing money the simple answer to the current aid payment crisis?
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