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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Since 1971, Maldives is one of only three countries that have graduated from the ranks of the world’s “least developed countries” (LDCs) – the other two being Botswana and Cape Verde.