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Tag "Reform of the International Financial System"

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).

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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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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.

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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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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_MarketsFive years after the Lehman Brothers collapse triggered the global financial crisis, there are still no effective financial regulations in developed countries, while the developing countries face big new challenges.

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