The Potential of Special Drawing Rights
The G20 recently endorsed the issuance of $250bn of Special Drawing Rights (SDR) by the IMF, but it made no arrangements for rich countries to transfer their allocations to poor ones. The idea was not even mentioned. Yet that is where the real benefits of an SDR issue would come from. A memorandum by George Soros
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Compensating Poor Food Importers
High food prices are putting the health and lives of the world's poorest at severe risk. A mechanism to compensate for the effects of higher import prices on the poor is needed and can be implemented immediately. It must be without conditions. A proposal by Kunibert Raffer.
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Supporting Global Expansion of Aquaculture
Globally, fish is by far the most traded agricultural commodity, and aquaculture is the fastest growing food production activity. Asia is the leader, with 80% of global production. However, with its Aquaculture Strategy of April 2009, the European Commission provides a red carpet to European industry.
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World Bank Suspends Controversial Labour Indicator
In an important shift in the World Bank's approach to development, only two days after this year's spring meetings the Bank announced the suspension of the controversial "Employing Worker" Indicator (EWI) and a commitment to re-examine and revise both the EWI and the "Paying Taxes" Indicator in its annual country-ranking exercise called "Doing Business".
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New Report: A Global Green Recovery is Possible
Measures of G20 members for economic recovery can trigger a boost of both sustainable growth and climate protection. This is the result of a report, authored by Ottmar Edenhofer and Lord Nicholas Stern. A global green recovery could deliver economic benefits, help to avoid dangerous climate change, and reduce sources of global and social instability.
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Proposals for Profound Reform of Financial System
With the world facing the first crisis of the modern age of globalization, a commission of economic experts chaired by Nobel Laureate and former Chief Economist of the World Bank Joseph Stiglitz calls for the creation of a new global reserve system and a global economic coordination council as part of a fundamental reform of the international financial architecture.
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Increased IMF Funding without Reforms?
The G20 summit meeting in London on April 2nd will have a lot on its plate and will certainly fall short of expectations. There is a world recession, the worst for more than 60 years, and the immediate problem of how to get out of it through fiscal and monetary stimulus. Then there is regulatory reform. And sadly, last on the agenda is aid for the poorest countries.
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On the Wrong Side of the Global Water Divide
Istanbul is currently hosting thousands of international water bureaucrats, which are convening for the 5th World Water Forum. Their official motto, "Bridging the Divides for Water", poses a daunting challenge. Almost one billion people still lack access to adequate and safe water supply.
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Call for More Say in International Finance Reform
Issuing their first-ever communiqué at a G20 finance ministers' meeting, Brazil, China, Russia and India have called for a bigger voice on international bodies - signalling their growing political resolve to influence global affairs. WDEV documents the communiqué in full length.
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On the Road to London and Beyond
The year 2009 is clearly representing a window of opportunity: The consequences drawn from the global financial crisis and the course set this year can decisively shape the face of global governance for the foreseeable future. An overview by Rainer Falk and Barbara Unmüßig
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South-South Cooperation in Times of Global Crisis
Developing country financial experts and government officials met for two days in early February at UNCTAD in Geneva to ponder ways to use recently much-expanded South-South economic cooperation to soften the blows from a severe financial crisis now spreading to their economies from the industrialized West.
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The Impact of the Global Crisis on Employment
The global economic crisis is expected to lead to a dramatic increase in the number of people joining the ranks of the unemployed, working poor and those in vulnerable employment, the International Labour Office (ILO) says in its annual Global Employment Trends report.
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The EU Presidency Outlook for Development
Within the broader context of a changeover from France's Euro-activism to the Czech Republic's Euro-scepticism, both Presidencies will have been at the helm during a period in which the stakes were high for development.
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The Outcome of the FfD Conference in Doha, Qatar
After four days of intense inter-governmental negotiations, how do relevant stakeholders and participants evaluate the outcome of the UN Review Conference on Financing for Development which took place from 29 November to 2 December in Doha? WDEV documents statements and reports.
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Coordinated and Massive Global Stimulus Required
UN economists are recommending massive economic stimulus packages that are coherent and mutually reinforcing on a global basis, and linked with sustainable development imperatives. These should come on top of the liquidity and recapitalization measures already undertaken by countries.
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Towards a World Financial Organisation
The forthcoming Doha conference is presented with what might be called a "double whammy": Not only must the Monterrey process deliver on its MDG-linked commitments as elaborated in 2002 but it must do so in an international economic environment still shaking from a considerable shock to its economic and ideological fundamentals.
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The Electronic Reader for Doha
In the run-up to the Doha Financing for Development conference NGOs and other agencies have multiplied their publication of research and education material. World Economy & Development In Brief presents the direct links to the most recent policy papers on financing for development.
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Onslaught against Trade Unions Claimed 91 Lives
The publication of this year's Annual Survey of Trade Union Rights Violations by the International Trade Union Confederation (ITUC) reveals an appalling record of union-busting, anti-union laws, intimidation and violence against workers' representatives in 2007.
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South America: Recession Can Be Avoided
Since the financial meltdown began in mid-September, the bond markets of most of the region have been hit, as well as most of their stock markets and a number of currencies. Can South America escape the wrath of the economic and financial storms that have their epicenter in the United States?
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The New Guidelines for SWFs: What's Behind?
On 11 October 2008, the International Working Group of Sovereign Wealth Funds (IWG) released the Generally Accepted Principles and Practices (GAPP) that would guide the governance and accountability framework of sovereign wealth funds (SWFs).
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The Race to a New Bretton Woods
For years, only a small and enlightened elite and some NGOs looking beyond their tiny projects have been calling for a New Bretton Woods - a global conference to restructure the global economic and financial system. Yet suddenly such demands have become almost mainstream, and developments have accelerated tremendously.
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