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<p><span>Thank you, Sylvain, and thank you to the Federal Reserve Bank of San Francisco for inviting me to speak tonight. After listening to many dinner speakers through the years, I am well aware that after the entrees are served, no one wants to hear someone blabber for 45 minutes. So, I will try to keep this short to leave enough time for a robust discussion afterward, which I hope my remarks will generate.</span></p> ....
Despite development assistance (often at extremely subsidized interest rates and generous repayment schedules), sub-Saharan Africa has performed dismally on various economic indicators.Developing countries must make their own internal reforms byimplementing policies that promote economic freedom, which, inturn, are known to be associated with higher levels of economicgrowth. ....
Leaving developing economies outside emerging international security regimes would both widen the gap between the developed and developing worlds and create new opportunities and sanctuaries forterrorists to exploit. The United States should help countries jointhe fight against terrorism by promoting free trade agreements,ensuring that foreign assistance programs do not perpetuate badpolicies, and better organizing U.S. efforts to offer technicalsecurity assistance. ....