Gallagher & Heine Publish Op-Ed on IFDC Loan Agreement
Kevin Gallagher, Professor of Global Development Policy and Director of the Global Development Policy Center (GDP Center) at the Frederick S. Pardee School of Global Studies at Boston University, and Ambassador Jorge Heine, Research Professor at the Pardee School, co-authored an El Pais op-ed arguing that President Joe Biden should reverse the policy of former President Trump’s International Development Finance Corporation (IDFC).
In the article, titled “Biden debe cancelar acuerdo de préstamo del IFDC a Ecuador” (Biden must cancel IFDC loan agreement to Ecuador), Gallagher and Heine discuss the substantial impacts of COVID-19 on Latin America, the Trump administrations economic policy towards Ecuador, and the Biden administration’s opportunity to reverse course.
President Trump’s IDFC proposed a loan agreement with Ecuador that contained caveats forcing Ecuador to ban Chinese technology and increase its reliance on oil. This deal was not solidified before Trump’s departure from office, and the two authors say that moving away from it would help meet President Biden’s goal of repairing America’s world standing and vision of global prosperity.
The full op-ed can be read on El Pais’ website.
Kevin Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. He is author or co-author of six books, including most recently, The China Triangle: Latin America’s China Boom and the Fate of the Washington Consensus. Read more about Professor Gallagher on his Pardee School faculty profile.
Ambassador Jorge Heine is a Research Professor at the Pardee School of Global Studies at Boston University. He has served as ambassador of Chile to China (2014-2017), to India (2003-2007) and to South Africa (1994-1999), and as a Cabinet Minister in the Chilean Government. Read more about Heine on his Pardee School faculty profile.