The sixth BRICS Summit which has just ended in Brazil marks the transition of a grouping based hitherto on shared concerns to one based on shared interests.
The “fragility” of the World Trade Organization’s ‘Bali package’ was brought into the open at the weekend meeting in Sydney, Australia, of trade ministers from the world’s 20 major economies (G20).
While Republicans complain relentlessly about U.S. President Barack Obama’s alleged failure to exert global leadership on geo-political issues like Syria and Ukraine, they are clearly undermining Washington’s leadership of the world economy.
When Western powers, led by the United States, decided to throw Russia out of the Group of 8 (G8) industrial nations, it was aimed at punishing and "isolating" President Vladimir Putin for his intervention in Ukraine and "annexation" of Crimea.
The Group of 20 (G20) industrialised and emerging economies on Sunday formally expressed frustration with the ongoing inability of the United States to approve a major reform package that would see governance at the International Monetary Fund (IMF) shift more towards developing countries.
A major grouping of rich countries has unveiled a new model for the automatic exchange of certain individual financial information between countries, aimed at significantly cutting down on offshore tax evasion.
Key multilateral institutions charged with improving regulation of the international financial system are failing to democratise their governance and adequately consider the impact of their actions on the world's poor, says a new report by anti-poverty groups.
With a week of intense lobbying behind him, U.S. President Barack Obama looks increasingly beleaguered - both at home and abroad - in his effort to rally support for a military strike against Syria to punish its government for its alleged Aug. 21 chemical-weapons attack outside Damascus.
The global economy weakened significantly towards the end of 2011 and further downward pressure emerged in the course of 2012. The growth rate of global output, which had already decelerated from 4.1 percent in 2010 to 2.7 percent in 2011, is expected to slow down even more in 2012 to around 2.3 per cent. Developed economies as a whole are likely to grow by only slightly more than one per cent in 2012, owing mainly to the recession currently gripping the European Union (EU).
Despite a sudden increase in July this year, prices of cereals on world markets remained fairly stable. But there are no grounds for complacency, as cereals markets remain vulnerable to supply shocks and disruptive policy measures. In this context, the good harvests that are expected in the Southern Hemisphere are important.
Multilateralism is at a crossroads. This is a crucial matter for environmental and sustainability issues, as we have seen in the Rio+20 Summit, and for trade and other economic matters. The G20 Summit in Los Cabos, Mexico, focused precisely on improving our collective response to the current economic turbulence, which is at the heart of developments in the European Union (EU) as well.
The head of the International Monetary Fund (IMF), Christine Lagarde, on Wednesday urged countries to act on a suite of reform measures that would significantly increase the voices of developing countries within the agency.
Business will push for the freeing up of trade in green goods and services, at the upcoming summit of heads of state of the Group of 20 (G20) industrialised and emerging countries in Mexico.
In a renewed funding focus on large-scale infrastructure, the World Bank, Group of 20 (G20) countries and other multilateral groups are wilfully overlooking lessons learned decades ago, a new report by International Rivers warns.
For a start, stop calling it "aid", Brian Atwood, chair of the Development Assistance Committee at the OECD, tells IPS.