Economic Policy and Governance
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USAID assisted Finance Ministries in Afghanistan, Iraq, and Sudan with introducing new national currencies. In Iraq (pictured above), USAID facilitated $2.4 billion worth of conversion to the new Iraqi dinar.
(credit: Tom Hartwell) |
Countries with open and competitive economies experience, on average, more rapid economic growth, and do so without compromising their poverty reduction or income distribution goals. In these countries, the private sector typically serves as the principal engine of growth. The public sector has, however, an essential role to play – maintaining stable, corruption-free macroeconomic conditions, while creating the environment of policies, regulations, institutions, and overall economic governance that enables the private sector to develop and flourish.
USAID’s recently updated strategy for economic Growth, “Securing the Future” guides USAID’s work in economic policy and governance. USAID works through overseas missions to help developing and transition countries strengthen their economic policies and governance, thereby improving opportunities for private sector-led growth. USAID provides partner countries with:
- Technical assistance to design and implement key macroeconomic reforms including monetary and banking policy; fiscal policy; trade and exchange rate policy; and national income accounting, measurement, and analysis
- Technical assistance to improve economic policy in key sectors such as energy, industry, labor, telecommunications, and transport
- Support to strengthen essential economic institutions including ministries of finance, central banks, departments of statistics, and relevant public and private associations that promote reform
- Policy-related studies and research, expert economic staff, and training for partner country decision makers
Spotlight on Women’s
Economic Education |
The Women’s Leadership Training in Economics (WLTIE) program, planned to launch in late 2009, will bring approximately 30 women from USAID-assisted countries to the US to pursue graduate studies in Economics. Upon graduation the women will provide economic policy leadership in their home countries. |
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USAID monitors global trends in economic development, for example providing decision-makers regular analysis of the financial and economic impacts of the global financial crisis on vulnerable, USAID-assisted countries. With this information, USAID officials collaborate with other agencies and donors to monitor and reallocate development assistance resources to assist areas experiencing slowed development and increased poverty.
Learn more about USAID’s work in areas including:
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