Launching of South Centre report on the eve of the G-20 Summit: “Why the IMF and the International Monetary System Need More Than Cosmetic Reform”.
The hopes of a rapid global economy recovery have recently been dashed by renewed turmoil in the world economy. The sovereign debt problems in several European countries, the gyrations in currency exchange rates, volatility in capital flows, and the war of words among major economies over “trade sanctions” and “competitive devaluations” are some of the many troubling signs of a new crisis (more…)
Some preliminary thoughts on new international economic cooperation.
The developed countries have acted as engines of economic growth in the world for nearly half a century; but they may not continue to have that role for long. With their negligible population growth and low level of GDP growth, they are unlikely to generate significant additional consumer demand. (more…)
South Centre Proposes Policies Towards Sustainable Global Economic Recovery.
The South Centre has published a paper analysing current weaknesses and imbalances in the global economy and in the major countries. It also makes proposals on what needs to be done to achieve a global economic recovery.(more…)
Global Economic Prospects: The Recession May Be Over But Where Next?.
The South Centre releases a new research paper which throws interesting light on the global economic imbalances, the situation in the major countries, and what needs to be done. (more…)
The financial crisis, which assumed global pro- portions in 2008, is, at the time of writing, far from over. In fact, many facets of the crisis are still unfolding, while many of the policy responses are yet to bear fruit and the road to recovery is uncer- tain. (more…)
The Role of the United Nations in Global Economic Governance
Global economic policy issues are often addressed by specialized multilateral agencies in a fragmented, incoherent and inconsistent manner and often with failures in relation to certain areas of global policy – particularly in trade and finance – that have broader implications for the multilateral system as a whole. (more…)
Policy Response to the Global Financial Crisis: Key Issues for Developing Countries.
This new paper, authored by the Centre’s Special Economic Advisor, Dr Yilmaz Akyuz, deals with the global financial crisis and developing countries. The first part is on what is needed to support the required policy response in developing countries. The second part is on the required reform to the international financial architecture. A summary of policy conclusions and proposals is at the end. (more…)
Statement to the United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development, New York
This crisis triggered by widespread speculative lending and investment in major international financial centres is causing a major setback to development and poverty reduction. The combination of sharply declining export earnings, collapse of remittances, reversal of private capital flows and an extreme degree of credit squeeze affecting even trade finance is producing a sharp economic slowdown and contraction in many parts of the developing world. (more…)
Statement at the UN General Assembly Extraordinary Thematic Dialogue on The World Financial And Economic Crisis And Its Impact On Development, New York
1. The extraordinarily serious global economic crisis has its origins in the developed countries. Developing countries are not responsible, but they are severely affected, and in ways that are worse than the developed countries, as they also lack the means to counter the effects. (more…)
South Centre calls for revamping the global financial architecture.
The financial crisis has shown how dysfunctional the current international financial architecture is to manage the global economy of today, with its myriad of interconnections through which financial turmoil spreads across the world and with its revealed and significant regulatory deficit. (more…)
This Analytical Note evaluates how far the commitments contained in the 2002 Monterrey Consensus were fulfilled. It also examines the adequacy of the Monterrey Consensus as a framework for guiding international policy decisions and actions in current circumstances, (more…)
This South Centre Analytical Note discusses potential governance reforms in the World Bank’s governance structures, with an understanding that some reforms become more or less imperative depending on the direction of the discussions around the long-term strategic direction of the Bank. (more…)
