Devex Pro Insider: Rain on IMF’s parade and the big questions about aid

The heavens opened as Kristalina Georgieva began her second term as managing director of the International Monetary Fund last week — and she was delighted. The Bulgarian noted that in her culture, “rain on a big day is a sign of good luck. So I cherished the downpour.” Lord knows she’ll need it with some of the challenges coming up. During her first term, Georgieva led IMF as it navigated the challenges of COVID-19, global economic crisis, price shocks, and rising debt distress, with a performance that won her both supporters and detractors. She oversaw the issuance of Special Drawing Rights, which provided critical resources to countries, though rechanneling efforts have been slow. She has seemed to embrace working closely with the World Bank, especially under Ajay Banga — the two seemed chummy on stage at UNGA last week, talking about collaboration and impact. And she has generally been seen as leading the IMF to play a greater role in development matters, and climate, rather than just fiscal policy. However, there are more big issues to contend with as she enters her second term. The debt problem is ever more urgent, and there’s a growing demand for reform of the international financial architecture. We’re also weeks away from a U.S. election that has anyone who works in multilateralism on the edge of their seats. Coming up: Don’t forget, Devex World is coming up on Oct. 24 — and Pro members get $400 off tickets! We have a really exciting lineup of speakers, including Priya Basu, head of the Pandemic Fund; Howard G. Buffett, CEO of the eponymous foundation; Rachel Kyte, the U.K.’s new climate envoy; and many more — plus Pro members will have access to a dedicated space for networking and meet-and-greets with some of our speakers. We’d love you to join us. + Hot tip: If you buy your tickets before Tuesday, we’re offering a limited-time 40% discount with code devex-world-40. If you’re interested in buying a bundle of tickets for your team, let me know. Also in today’s edition: Why UNICEF reported Naomi Campbell’s charity to the regulator, the future of northern aid donors, and how to make USAID’s funding more effective. Bits and pieces New kid on the block. Thani Mohamed Soilihi has been appointed as France's new minister for international partnerships. Soilihi, who maintains a low profile, is the first citizen from Mayotte, a French region in the Indian Ocean, to serve as a minister in Paris — a committed Macronist, he was behind a controversial citizenship amendment law. He's known to be progressive on LGBTQ+ issues. Other than that, we'll have to wait to find out more about the approach he might take to aid — he's expected to speak on French public radio this weekend so I'll keep you posted on what we learn. Worth it? Last year, the International Federation of Red Cross and Red Crescent Societies purchased an innovative insurance policy from a group of reinsurers, including the Swiss insurance giant Aon, for their Disaster Response Emergency Fund — hopefully covering them in the event of a budget shortfall amid proliferating crises. It pays out when the Red Cross’s demand for disaster relief surpasses a certain level in a year. The insurance arrangement carries an annual premium of 3 million francs (over $3.5 million) but has already been triggered, due to spending on crises including floods in Iraq, drought in Eswatini, and wildfires in Chile. That will allow IFRC to draw up to 15 million Swiss francs to support disaster situations through the rest of the year. Big questions. As regular readers will know, ODI is seeking a new executive director for its burgeoning U.S. operation after Andy Herscowitz left to head up the new M300 Accelerator. In the meantime, ODI's old hand Nilima Gulrajani is acting as interim — and she’s revealed that one of the big questions she’ll be focusing on over the coming months is the future of “northern ‘aid’ donors.” That includes questions such as: • Why should a northern donor exist today, and does it need a new narrative? • How do we build the right incentives, internal structures, and staffing within these donor institutions? • When will a donor's job be done? Can we think about long-term success even as we chase quick results? They’re big, hot questions, and answering them will require Gulrajani to engage in a series of conversations with a range of contributors about how “to build a better donor enterprise in the North.” You can follow them here. Campbell strikes back. Supermodel Naomi Campbell clapped back last week after the U.K. charity regulator published a report into misconduct at the charity she founded, Fashion for Relief. Campbell said she was concerned by the findings but also that she considered parts of the report to be “deeply flawed.” In particular, she denied one of the key allegations against her, involving significant hotel expenses being charged to the charity. She said the bill in question was in fact settled “by a third party unaffiliated with the foundation.” But bad news continued to roll in about the now-defunct charity. The Guardian reported that it held a star-studded fashion show and charity auction at the British Museum in 2019, which it advertised as being in aid of UNICEF. But UNICEF said it had never partnered with the charity, was unaware of the event, and received no money from it. It also questioned references to Campbell as a “UNICEF envoy” at a government event a year earlier, saying that she has never held an official role with them. One charity she really does hold an official role with is the Queen’s Commonwealth Trust, a charity that supports social entrepreneurs across the Commonwealth, for which she became an ambassador in 2021. I contacted the charity to see if they had a comment on the situation but did not get a response. I did notice that the release announcing her appointment is no longer live on their website. Campbell says she was not involved in the day-to-day running of Fashion for Relief, serving only as the face of the charity. But it does go to show that even the highest-profile endorsements can’t always be taken at face value. ✉️ Do you have insights into any of this week’s bits and pieces? Let me know by replying to this email. In memoriam Plan International Ethiopia announced the death of Teklemariam Tarekegn, a sanitation and hygiene promotion officer, who was killed in a violent attack in the Amhara region. “This devastating incident underscores the unacceptable dangers that humanitarian workers face in conflict areas,” the organization said in a statement. Also last week, NBA star and philanthropist Dikembe Mutombo died of cancer at the age of 58. Mutombo arrived in the U.S. from the Democratic Republic of Congo in 1987 with plans to become a doctor, but he pivoted to basketball, signing a $55 million contract with the Atlanta Hawks in 1996. He opened his foundation the following year, which funded a major hospital and a school in his home country. He also held roles with Care International and the United Nations Development Programme, and promoted vaccine uptake in Africa, including during the pandemic. “Basketball was a vehicle that I used to get me where I’m going,” he said back in 2022. “My inspiration in life is to improve the living condition of my people.” Moving on Will von Schrader has been promoted to managing director of localization at Save the Children US. Lever for Change, a nonprofit that works with philanthropists to increase their impact, announced a new structure, in which it has separated out the positions of president and CEO. Cecilia Conrad will continue to serve as CEO, with responsibility for strategy development, business development, and financial viability. Vice President Kristen Molyneaux has been promoted to president, with responsibility for organizational development and maximizing the organization’s impact. + Sound interesting? Conrad will be speaking at Devex World about new models of philanthropy. Public health organization JSI has named Muka Chikuba-McLeod, a senior executive with the organization, as interim president and CEO. The International Union Against Tuberculosis and Lung Disease has announced Dr. Cassandra Kelly-Cirino as its new executive director. She joins from the Foundation for Innovative New Diagnostics, or FIND. The Modernizing Foreign Assistance Network named Lori Groves Rowley, managing member of LGR Strategies, LLC, as its new co-chair, and Colin Christensen, global policy director of the One Acre Fund, as its new policy working group co-chair. Did we miss one? Is there a change on the horizon? Let us know at devexpro@devex.com. Up next Pre-COP. COP 29 President Mukhtar Babayev of Azerbaijan will host representatives of negotiating groups and constituencies at a pre-COP meeting in Baku this week. The annual gathering ahead of the main U.N. Climate Change Conference allows ministers to discuss the key political aspects of the negotiations, find solutions to outstanding issues, and set the tone for the upcoming COP. Oct. 10-11. Cost-effectiveness. USAID Deputy Administrator Isobel Coleman will be speaking at the Centre for Global Development about steps the agency has taken to improve its cost-effectiveness and impact per dollar. It coincides with the launch of USAID’s first-ever Position Paper on Cost-Effectiveness. Oct. 10. Jobs of the week Your Devex Pro membership includes access to the world’s largest global development job board. Here are some of the latest high-level opportunities: • Director of People & Culture with the Global Health Corps. • President of AGRA, formerly the Alliance for a Green Revolution in Africa. • Executive Director, Global Institute with Teach for All. Explore more high-level openings.