Eye on the IFIs

Social Safety Net Not Wide Enough to Protect World’s Poor

Fifty-five percent of the world’s poor still have limited protection from hunger and economic, social or political crises despite expansion of social safety programmes in developing countries in recent years.

Will the New BRICS Bank Break with Traditional Development Models, or Replicate Them?

Just days ahead of a summit of the BRICS group of emerging economies (Brazil, Russia, India, China and South Africa) in which the five countries are expected to formally launch their New Development Bank (NDB), 40 NGOs and civil society groups have penned an open letter to their respective governments urging transparency and accountability in the proposed banking process.

Opinion: The End of the Greek Tragedy?

The decisive result of the Greek referendum held Jul. 5, in which voters overwhelmingly rejected (61.3 to 38.7 percent) the terms of an international bailout, has opened a new chapter not only for the future of Greece, but also in terms of the essence of the European Union itself.

Opinion: BRICS for Building a New World Order?

As the leaders of the BRICS five meet in the Russian city of Ufa for their annual summit Jul. 8–10, their agenda is likely to be dominated by economic and security concerns, triggered by the continuing economic crisis in the European Union and the security situation in the Middle East.

Critics of World Bank-Funded Projects in the Line of Fire

For an entire month beginning in February 2015, a group of between 40 and 50 residents of the Durgapur Village in the northern Indian state of Uttarakhand would gather at the site of a hydroelectric power project being carried out by the state-owned Tehri Hydro Development Corporation (THDC).

Opinion: No Place to Hide in Addis

My colleagues just got back from Munich, where we held a summit bringing together over 250 young volunteers from across Europe. These youngsters campaigned in the run-up to and at the doorstep of the G7 Summit in Schloss Elmau, as one of the key moments in a year brimming with opportunities to tackle extreme poverty.

Opinion: Greece – A Sad Story of the European Establishment

Only 50 years of Cold War (and the fact that German Chancellor Angela Merkel grew up in East Germany) can possibly explain the strange political power of the United States over Europe.

Climate Fund Rolls Out Amid Hopes It Stays “Green”

After a difficult infancy, the Green Climate Fund is finally getting some legs. The big question now is what direction it will toddle off in.

Jamaican Gov’t Sees IMF Successes but No Benefits for the Poor

For Jamaicans like Roxan Brown, the Caribbean nation's International Monetary Fund (IMF) successes don’t mean a thing. Seven consecutive tests have been passed but still, the mother of two can’t find work and relies instead on the kindness of friends and family.

Opinion: The Bumpy Road to an Asian Century

It has been apparent for some time that we are in the midst of a historic shift of the centre of gravity of the global economy from the trans-Atlantic to what is now becoming known as the Indo-Pacific.  

Opinion: Finance Like a Cancer Grows

It is astonishing that every week we see action being taken in various part of the world against the financial sector, without any noticeable reaction of public opinion.

Opinion: Lack of Trade Finance a Barrier for Developing Countries

Up to 80 percent of global trade is supported by some form of financing or credit insurance. Yet in many countries there is a lack of capacity in the financial sector to support trade, and also a lack of access to the international financial system. Therefore the ability of these countries to use simple instruments such as letters of credit is limited.

Opinion: Pillar of Neoliberal Thinking is Vacillating

This month’s World Economic Outlook released by the International Monetary Fund (IMF) only confirms that consequences of the collapse of the financial system, which started six years ago, are serious. And they are accentuated by the aging of the population, not only in Europe but also in Asia, the slowing of productivity and weak private investment.

Opinion: A Long History of Predatory Practices Against Developing Countries

The world’s attention turned to the practices of vulture funds after the U.S. Supreme Court affirmed a lower court opinion in the NML Capital vs Argentina case, which forbids the country from making payments on its restructured debt.

Opinion: Crisis Resolution and International Debt Workout Mechanisms

Debt restructuring is a component of crisis management and resolution, and needs to be treated in the context of the current economic conjuncture and vulnerabilities.

Development and Taxes, a Vital Piece of the Post-2015 Puzzle

Public funds are vitally important to achieving the Sustainable Development Goals (SDGs), making corporate tax avoidance trends a pressing issue for post-2015 Financing for Development discussions.

Opinion: Greece and the Germanisation of Europe

At last, on Tuesday Feb. 24, the Eurogroup (of eurozone finance ministers) approved the Greek government’s commitment to a programme of reforms in return for extending the country’s bailout deal.

OPINION: The Corporate Takeover of Ukrainian Agriculture

At the same time as the United States, Canada and the European Union announced a set of new sanctions against Russia in mid-December last year, Ukraine received 350 million dollars in U.S. military aid, coming on top of a one billion dollar aid package approved by the U.S. Congress in March 2014. 

OPINION: Greece Gives EU the Chance to Rediscover Its Social Responsibility

The European Union should not be afraid of the leftist opposition party Syriza winning the Greek election, but see it as a chance to rediscover its founding principle - the social dimension that created it and without which it cannot survive.

OPINION: Banks, Inequality and Citizens

Every day we receive striking data on major issues which should create tumult and action, but life goes on as if those data had nothing to do with people’s lives.

Haitians Worry World Bank-Assisted Mining Law Could Result in “Looting”

With Haiti’s Parliament having dissolved on Tuesday, civil society groups are worried that the Haitian president may move to unilaterally put in place a contentious revision to the country’s decades-old mining law.

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