— The South Centre Blog

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Tag "Capital Flows"

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.

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Khor 1Marinate_TradeThis Merdeka Day, we should celebrate how the country has developed relatively well, but also reflect deeply on how to get out of the economic stresses which have reached a crisis point.

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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.

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Khor 1Debt_SustainabilityThe slide in the ringgit’s level is a symptom of weaknesses in the Malaysian economy which were exposed with recent changes in the global economic conditions, and policy actions must now be taken to address the serious problems.

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yilmaz-akyuzDebt_SustainabilityIn this column, Yılmaz Akyüz, chief economist at the South Centre in Geneva, looks at the role of international debt workout mechanisms in debt restructuring initiatives and argues, inter alia, that while the role of the IMF in crisis management and resolution is incontrovertible, it cannot be placed at the centre of these debt workout mechanisms because its members represent both debtors and creditors.

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Khor 1Debt_SustainabilityAs the country’s external debt has become a topic of debate and confusion, it is useful to review the situation.

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yilmaz-akyuzEU_CrisisYilmaz Akyuz, chief economist of the South Centre in Geneva, argues that in recent years developing countries have lost steam as recovery in advanced economies has remained weak or absent due to the fading effect of counter-cyclical policies and the narrowing of policy space, and he recommends measures to reduce the external financial vulnerability of the South.

 

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Khor 1Financial_InstitutionsThe turmoil of currency decline and capital flight in several developing countries continued, and a re-look into capital controls, Malaysian-style, may be worthwhile.

 

 

 

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Khor 1Financial_MarketsThe two-day sell off of currencies and shares of several developing countries last week raises the question whether this is the start of a new financial crisis.

 

 

 

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