— The South Centre Blog

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Tag "Financial Crisis"

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.

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Khor 1EU_CrisisWhen a country mismanages its debt, it can lose its sovereignty and dignity – a lesson that is being imposed again on the Greek nation.

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Marinate_TradeKhor 1I am not sure who first coined the term ‘the new normal’, but it is increasingly being used worldwide to mean that something that was unusual is now becoming quite usual and we should become used to this new situation.

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EU_CrisisKhor 1This week will see the resolution for two important issues – the fate of the Trans Pacific Partnership and of the Greek debt crisis – both of which will affect Malaysia.

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Khor 1The birth of new development banks led by developing countries and the failure of the US to block them are signs of the winds of change and rebalancing of economic power, especially in Asia.

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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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EU_CrisisKhor 1A political earthquake in Greece opens new roads either to a resolution to its economic crisis or a very messy situation for Europe and the world economy.

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Khor 1Trade_Facilitation2014 ended with Malaysians in very sombre mood and we will have to deal with its unfinished business as well with an increasingly fragile economy in the new year.

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Khor 1Debt_SustainabilityMany countries face a worsening debt situation, and thus feel the urgency to curb ‘vulture funds’ and set up a global debt restructuring mechanism.

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