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.
The world's 48 Least Developed Countries (LDCs) - a special category of developing nations created by the General Assembly in 1971 but refused recognition by the World Bank - have long been described as "poorest of the poor" in need of special international assistance for their economic survival.
An unprecedented number of United Nations special rapporteurs and independent experts are raising pointed concerns over the World Bank’s ongoing review of its pioneering environmental and social safeguards, particularly around the role that human rights will play in these revamped policies.
The World Bank has taken an unusual but highly visible step away from traditional economics, encouraging policymakers and development implementers to place far more emphasis on research into local human behaviour when drawing up plans and projects.
After the Italian sea search-and-rescue operation Mare Nostrum at a cost of nine million euros a month, through which the Italian Navy has rescued nearly 100,000 migrants – although perhaps up to 3,000 have died – from the Mediterranean since October 2013, Europe is now presenting its new face in the Mediterranean.
Industrialised countries have agreed to collaborate on a new programme aimed at funnelling significant private-sector investment into global infrastructure projects, particularly in developing countries.
As the international community wades into the political discussions regarding the alternatives to the Millennium Development Goals (MDGs) after 2015 and the design of the Sustainable Development Goals (SDGs) as mandated by the Rio+20 conference, it is timely to consider the question of whether development is a matter mostly of individual effort on the part of nation-states or whether there are elements in the international economic system that could serve as significant obstacles to national development efforts.
A poorly understood phenomenon is quietly but effectively shaping the daily lives of all citizens sharing this planet.
The United Nations’ key mechanism for funding climate change-related mitigation and adaptation in developing countries is now ready to receive funds, following a series of agreements between rich and poor economies.
The World Bank has initiated a major call to action for private sector investors around infrastructure projects in developing countries.
Seventy-three countries and 22 lower-level governments offered formal support Monday for a global price on carbon dioxide emissions, including China, Russia and the European Union.