Eye on the IFIs

IDB Modernises Crucial Social and Environmental Safeguards

The Inter-American Development Bank (IDB) is in the process of modernising the social and environmental safeguards that govern the financing of projects considered vital for the construction of sustainable infrastructure in the Latin American region.

The Slippery Slope to Autonomous Killing Machines

Would you trust an algorithm with your life? If that thought makes you uncomfortable, then you should be concerned about the artificial intelligence (AI) arms race that is secretly taking off, fueled by the arms industry.

They Call it Multistakeholderism. Where Does That Leave the UN?

Global governance is slipping away from the United Nations. Whether it is in managing the Internet, where the UN’s governing structure offers only an advisory role for governments; or climate change, where the most exciting actions are now corporate-led partnerships outside the UN Framework Convention on Climate Change; or the Gates Foundation-sponsored Gavi, The Vaccine Alliance, which is in a tug of war with the World Health Assembly on who sets health policy in developing countries, the institutional basis for global decision-making is changing.

Europeans Mobilising for New IMF Head

In the grand European political reshuffle of 2019, it turned out that Christine Lagarde was the answer to the conundrum of who should replace Mario Draghi at the European Central Bank. But her move opens another question. Who succeeds Lagarde at the International Monetary Fund?

We Cannot Save the World from Climate Catastrophe if Largest Emitters of CO2 Don’t Step up Now

SUVA, Fiji, 27 June 2019 (IPS) -- Are the most climate-vulnerable nations of the world right to demand that developed and major economies commit to carbon neutrality by 2050? Should the poorest nations of the world insist that the “haves” put their significant economic and political resources behind aggressive efforts to combat climate change?

Mauritius Scores Win over Britain in Diego Garcia Decolonisation

Mauritius has scored a victory over Britain at the International Court of Justice (ICJ) in a case involving the decolonisation of the strategically important island of Diego Garcia that is home to a United States military base.

Veterans of the Global Financial Crisis Pass their Wisdom on to the Next Generation

It happened again and again in a career punctuated by upheavals: the peso crisis of 1994, the Asian crisis of 1997, and finally, the big one—the global financial crisis of 2008.

Palestine to Lead UN’s Largest Group of Developing Nations

The Group of 77 (G77) -- the largest single coalition of developing countries at the United Nations-- is to be chaired by Palestine, come January.

Renewed Crises in Emerging Economies and the IMF ‒ Muddling Through Again?

It is now more than a decade and a half since the last severe currency crisis in a major emerging economy ‒ that was in Argentina in 2001-2002 following a series of crises in Russia, Turkey and Brazil.  It is now common knowledge that such crises generally occur when countries fail to manage surges in capital inflows so as to prevent build-up of fragility including currency appreciations, large and persistent current account deficits, increased leverage and currency and maturity mismatches in balance sheets.  

How Do You Attain “Sustainable Peace” Amidst Rising Military Conflicts?

The underlying message at the fifth annual Stockholm Forum on Peace and Development was summed up in its telling title “The politics of peace.” But the task ahead was overwhelmingly difficult: How do you advance peace and development against the backdrop of political unrest in parts of Asia and Africa and continued conflicts in the Middle East— all of them amidst rising global military spending triggering arms sales running into billions of dollars.

Money Talks at One Planet Summit in Paris

As funding to combat climate change has lagged behind lofty words, the One Planet Summit in France this week invited governments and business leaders to put money on the table.

Quantitative Easing for Wealth Redistribution

Following the 2007-2008 global financial crisis and the Great Recession in its wake, the ‘new normal’ in monetary policy has been abnormal. At the heart of the unconventional monetary policies adopted have been ‘asset purchase’ or ‘quantitative easing’ (QE) programmes. Ostensibly needed for economic revival, QE has redistributed wealth – regressively, in favour of the rich.

Is Religion the New Colonial Frontier in International Development?

A decade ago, it was difficult to get Western policy makers in governments to be interested in the role of religious organizations in human development. The secular mind-set was such that religion was perceived, at best, as a private affair. At worst, religion was deemed the cause of harmful social practices, an obstacle to the “sacred” nature of universal human rights, and/or the root cause of terrorism. In short, religion belonged in the ‘basket of deplorables’.

What can Development Banks do to Protect Human Rights?

In a petition signed by 150 NGOs, the Coalition for Human Rights in Development have called for development banks to make sure that human rights are respected by their beneficiaries.

What Does it Really Mean to “Leave No One Behind”? 

Although “leave no one behind” has become a central rallying cry around the UN's Sustainable Development Goals, more needs to be done for it to be put into practice, civil society said during a review conference of progress made on the Post-2030 agenda here this week.

China-led Development Bank Pledges $500 Million to Asian Projects

The Beijing-based Asian Infrastructure Investment Bank (AIIB), which was launched last year with the aim of funding projects on a continent with some of the world’s most populous nations, has pledged over $500 million in four concessional loans to Bangladesh, Indonesia, Pakistan and Tajikistan.

The Case for Cash in Humanitarian Emergencies

Currently only six percent of humanitarian aid worldwide comes in the form of cash handouts, yet many aid organisations believe that cash transfers should be seen as the rule, not the exception.

Making Sustainability Part of the Corporate DNA

Companies, governments and non-profit actors agree that economic growth and sustainable development have to go hand in hand to shape our increasingly globalised world in a fair way.

Least Developed Countries’ Vulnerabilities Make Graduation Difficult

Last month, over two thousand high-level participants from across the world met in Antalya, Turkey for the Midterm Review of the Istanbul Programme of Action, an action plan used to guide sustainable economic development efforts for Least Developed Countries for the 2011 to 2020 period. The main goal was to understand the lessons learnt by the world’s Least Developed Countries (LDCs) over the past five years and apply the knowledge moving forward.

World Bank Slightly Downgrades Global Economic Prospects for 2016

Global economic growth prospects for 2016 have been downgraded to 2.4 percent, in contrast to the initial 2.9 percent rate expected in January 2016, according to a World Bank report released here Wednesday.

Mega Dams Remain Controversial Source of Energy

Although mega dams can have devastating impacts on ecosystems and indigenous communities, many of the world’s poorest countries still see them as a way to fill gaping holes in their energy supplies.

Next Page »