— The South Centre Blog

Archive
Manuel Montes

manuel_montes-tnIn discussions at the UN about achieving Agenda 2030, it has become de rigueur to highlight the role of the private sector.  It is often introduced as the discovery of the idea that private sector investment and financing is indispensable to achieving Agenda 2030. For developed country diplomats and their associated experts this new celebrity treatment appears to be an article of faith, at least during negotiations on economic matters in the UN. They are foisting a misleading Trumpian exaggeration that is technically harmful to development policymaking and to Agenda 2030.

Read More

manuel_montes-tnSystemic issues are issues that arise from the built-in features of the global system and the impact of the interaction of its parts; as implied in the chapter title in the Monterrey Consensus, it pertains to the coherence and consistency of the monetary, finance and trade systems.  Systemic issues point at the weak points in the whole global financial “architecture,” the international structures and mechanisms that are beyond the control of individual countries.  Systemic issues are a particular concern to developing countries, which have experienced their greatest development reversals during international payments crises.

Read More

manuel_montes-tnDebt_Sustainability

On 10 September 2015, at its Sixty-Ninth Session, the UN General Assembly in plenary session adopted the resolution on “Basic Principles on Sovereign Debt Restructuring Processes” (A/RES/69/319) in New York, with 135 member States voting for, six against and 42 abstentions.  On the grounds that it would create uncertainty and reduce external financing for developing countries, the United States, supported by developed country allies – European Union countries, Japan, Australia and New Zealand – voted against the proposed General Assembly effort to start work toward a multilateral legal framework in the UN.

Read More

manuel_montes-tnInvestment_2Cet article étudie la question du <<non-droit>> dans le système économique international, en s’intéressant au cas particulier des traités bilatéraux d’investissement.

 

Read More

manuel_montes-tnAkha Coffee WorkerThirty years ago, the United Nations adopted the Declaration on the Right to Development (“the Declaration”).   Is this anniversary worth celebrating?  Has this declaration outlived its usefulness and its anniversary best forgotten?   My answer is NO.

Read More

manuel_montes-tnConsumptionAt the Financing for Development Conference in Addis in July 2015, developed countries blocked a proposal to establish an intergovernmental body within the United Nations on international cooperation in tax matters. There is a fundamental difference between North (where international companies are mostly headquartered) and South (whose interest lies in obtaining a fair share of the tax revenues arising from the operations of international companies in its territory). This divide can be better bridged in work by an intergovernmental body in the UN. The Addis Ababa outcome however sacrifices good governance and tax justice.

Read More

manuel_montes-tnDebt_SustainabilityThe lack of an appropriate multilateral legal framework, allowing the utilization of a predictable and rapid mechanism to guide the restructuring of sovereign debt generates the proliferation of incentives that dramatically increase costs both for debtors and “good faith” creditors. The recent experience of Argentina demonstrates that it is possible for “vulture funds” to get rulings in excess of the legal and contractual framework. Over the past three decades, the changes that took place in global finance, combined with the political, institutional and legal reforms that have accompanied these processes, consolidated a set of new challenges for sovereign debt restructuring processes. The improvements in debt contracts provisions do not fully resolve the problem. Furthermore, the establishment of a statutory mechanism that ensures a set of conditions that should be respected by all countries subscribing the agreement would be necessary even for such clauses to be effective.

Read More

manuel_montes-tnConsumptionDeveloping countries—emerging, middle-income, and least developed—will be going to the Third Financing for Development (FfD) Conference in Addis Ababa in July 2015 with a set of demands to reform and rebalance the international financial system in order to facilitate the realization of the Sustainable Development Goals (SDGs).

Read More

manuel_montes-tnFinancial_InstitutionsAs 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.

Read More

manuel_montes-tnConsumption[If the G20 Builds Platforms for Trading Infrastructure Assets, Will Investors Care?]

 

 

Read More