The people who took part in the Jubilee 2000 and Make Poverty History campaigns are still there. They haven’t gone away. The calculation, however, is that there are no votes in development - which is why, when the International Monetary Fund and the World Bank meet in Washington later this week, the talks will not impinge on the election campaign. George Osborne and Ed Balls will be looking to see how they can exploit what the IMF says about the health of the UK economy for domestic political reasons, but that’s about it.

Finance and development ministers from around the world next week will warn of considerable downside risks to the global economy, and call for an effort to protect the world's poor, according to the draft of a communique they plan to issue after a meeting on Saturday.

Christine Cumming of the New York Fed joins Andrés Rozental from the Mexican Council on Foreign Relations to discuss current economic trends and the role of the Fed in the financial regulatory system. Cumming expresses her concern that the financial system is failing in its mission to efficiently allocate capital to the most productive investment opportunities. She is optimistic about future growth prospects in the United States and explains why the current gradual approach to the tapering of monetary stimulus is appropriate.