Latin American states are actively exploring alternative mechanisms to the ICSID state-investor dispute mechanism which they claim has investor bias.
Burgeoning debt levels, and problems in Jordan and Philippines, indicate that debt crises are not behind us. While the IMF considers policy changes, an influential group of scholars has proposed a new Fund facility for handling sovereign debt restructuring.
The economic crisis in Argentina in 2001 and Greece today share both similarities and differences, so we should be wary of stretching the comparison.
New research claims World Bank Group's policies facilitate land grabs in Africa and favour the interests of financial markets over food security and environmental protection.
In early May, more than 400 activists in Greece and campaigners and academics from across the world met in Athens to confront the current debt crisis of the European periphery and plan international solidarity and coordinated action against fiscal austerity imposed by governments.
The descent of Greece into a sovereign debt crisis marks the first time a country that uses the euro has gone to the IMF. The fear of adverse market reaction has now moved Europe towards greater coordination and the G20 to argue against continued fiscal stimulus.
The International Center for the Settlement of Investment Disputes (ICSID) is facing an explosion of cases and increasingly vocal criticism from Latin American countries. Questions remain over whether it helps channel productive investment to developing countries or serves as a tool for multinational corporations to get their way.
Despite the political victory of transformative forces in South America, differences of opinion over the direction of the Bank of the South, a new regional development bank, may slow progress towards developing an autonomous alternative to the World Bank and IMF-dominated international financial architecture.
Jubilee Debt Campaign’s new report calls for “urgent measures” to “prevent a new debt crisis” highlighting the risk of the ongoing lending boom to impoverished countries as IMF discusses contractual reforms.
Notes of a meeting on sovereign debt restructuring at the World Bank-IMF annual meetings 2014
Notes of a meeting on sovereign debt restructuring after SCOTUS at the World Bank-IMF annual meetings 2014
UN votes to adopt developing countries’ resolution on a legal framework for debt resolution, independent of creditors, including the IMF.
Argentina has agreed a deal with its Paris Club creditors, which have been accused of aggressive behaviour in demanding repayment of double the original debt.
Aldo Caliari Monetary policy changes in rich world are now starting – the reversal of…
Bretton Woods Project and Oxfam are pleased to invite you to a meeting with leading activists including from Cameroon, India, and Argentina who are visiting London as part of a European lobby tour. 11 March 2014 at 14:30.
Countries, including Russia and India, have continued to express concerns over the failure to complete the 2010 IMF quota reform.