The International Monetary Fund (IMF) and the World Bank are controversial among governments and civil society organisations for many reasons: their unfair governance structures, their harmful loan conditionality, and last not least the fossil-based project policies of the Bank. Barbara Unmüßig explores some alternatives.
This article will highlight the following key points: how the financial and climate crises created by the West is devastating innocent countries; how the International Financial Institutions have contributed to these crises, including through imposing policies in developing countries that are rarely implemented by industrialized countries; and how these problems must be addressed through new governance arrangements and more vital civil society movements that insist on a Green New Deal for all countries ... ... this article is for subscribers only. For direct log in >>> click here.If you have no subscription >>> pick your option or >>>
At first glance, everyday life seems not to have changed in Istanbul. The streets are congested; people hurry to the ferry or the bus. For weeks, there has been no terror attack. Nevertheless, there are some visible changes. There are much more policemen in the streets. In some days, the Istiklal Caddesi, the main shopping street on the European side, seems to be under a state of siege. At every street corner, there is police van with the blue light switched on.
Recent disturbing trends in international finance have particularly problematic implications, especially for developing countries. The new United Nations report, World Economic Situation and Prospects 2017 (WESP 2017), is the only recent report of a multilateral inter-governmental organization to recognize these problems, especially as they are relevant to the financing requirements for achieving the Sustainable Development Goals (SDGs).
The Trump government signals unequivocally the end of international US hegemony. An international hegemon is able to define rules that find relatively broad acceptance internationally and plays a role in safeguarding international economic stability. The Trump government announced measures that go against the present economic rules while not proposing new ones.
The global deficit in quality jobs and deteriorating economic conditions in a number of regions threatens to undo decades of progress in poverty reduction, warns a new report by the International Labour Organization (ILO), the World Employment and Social Outlook (WESO) 2016.
Weakening of workers' rights in most regions is being aggravated by severe crackdowns on freedom of speech and assembly, according to the 2016 Global Rights Index. Restrictions on freedom of speech and assembly, including severe crackdowns in some countries, increased by 22%, with 50 out of 141 countries surveyed recording restrictions.