The Group of 20 Summit scheduled for November in Seoul will provide a forum for a wide range of economic and fiscal issues, ranging from World Bank governance to fossil fuel subsidies.
World Bank President Robert Zoellick is set to launch a new multi-million dollar fund in Mexico on Wednesday to help emerging market countries set up their own carbon markets, the bank said on Tuesday.
Why the time is right for sustainable thinking by pension funds and institutional investors:
When Roger Urwin, global head of investment content at Towers Watson, the investment consultant, turns his mind to a subject, the pensions world listens. Urwin, one of the most influential investment advisors around, has worked with many of the world’s largest retirement schemes. His recent attention to the theme of sustainable investing is notable because of his experience in the reality of pension fund practice and governance.
Central Bank authorities from eight developing countries (D-8) including Nigeria, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Pakistan and Turkey yesterday agreed to foster collaboration among member countries for the purpose of monetary, fiscal stability and development of member nations.
World leaders put the finishing touches on plans to build a more stable global economy on Sunday but backed away from one-size-fits-all pledges as two years of crisis give way to an uneven recovery.
With our focus so firmly fixed on the tension between the U.S. accent on stimulus and the deficit preoccupations of Canada and Europe, the question of China’s place in the G20 has been pushed a bit to the side of this weekend’s summit.
The G-20 is the premier forum for our international economic development that promotes open and constructive discussion between industrial and emerging-market countries on key issues related to global economic stability. By contributing to the strengthening of the international financial architecture and providing opportunities for dialogue on national policies, international co-operation, and international financial institutions, the G-20 helps to support growth and development across the globe.
As world leaders gather for the G8 summit in Canada, Machrine Birungi visits Francis Kamara at his farm in Uganda to see if the promises made at Gleneagles in 2005 have benefitted him and his country.
As Dr. Evil learned in the Austin Powers movies, $1 billion isn't quite what it used to be. The upcoming G8 and G-20 summits in Toronto are expected to top $1 billion in costs. At such a large price tag, it's reasonable to ask if the meetings are worth it. But former top White House aides say that even with the hefty price, the meetings more than pay for themselves in both tangible and intangible ways.
The G-20 agreement is a historic and watershed achievement in international development. Leaders from developed and developing countries got together and reaffirmed the interconnectedness of the global economy and individuals around the world. These leaders jointly agreed to tackle economic problems around the world with same strategies and expected outcomes. The Agreement is a good first step. However, Africa and other poor regions of the world still face significant economic and development challenges. The agreement falls short in addressing these challenges.
Russia will ask the International Monetary Fund (IMF) to carry out a study on the potential for a new international reserve currency, Kremlin aide Arkady Dvorkovich said on Tuesday. China and Russia, the world's No.1 and No.3 reserve holders, have been pushing for a discussion on making greater use of the International Monetary Fund's Special Drawing Rights basket.
The man who helped Thailand survive the Asian financial crisis says reforms a decade ago have made the region's banks better able to weather the global economic downturn. Former Finance Minister Tarrin Nimmanahaeminda also gave his endorsement to banking-reform programs planned by the United States and G-20 nations.
Jamie Bedson, lead coordinator at the Banking With The Poor Network Secretariat, in Singapore, told Connect Asia's Sen Lam that about 91 microfinance funds lend out money across Asia.
Jeffrey Sachs, director of the Earth Institute and economics professor at Columbia University reacts to the decisions made at this week's G20 summit and answers questions on the plight of poor countries in the midst of the global economic crisis: "There is considerable work to do still to put the urgent concerns of the poor countries on the world's agenda." "There is a real possibility of rising political instability in many countries, including street violence, coups, assassinations, or political paralysis."
President Barack Obama wrapped up his first international summit by declaring the event “historic” and a “turning point” toward recovery from a worldwide recession. Obama, who used personal diplomacy to help push through an agreement on regulations and emergency aid, said he and his counterparts at the Group of 20 summit are taking “unprecedented steps” to prevent another financial crisis.
G20 media reaction is a mixture of cautious optimism and scepticism.
Planet Finance President, Jacques Attali, on Monday, March 30, 2009, in Tunis, Tunisia, said that micro-finance could seriously help cushion the impact of the global financial crisis on Africa. Mr. Attali made the statement during a presentation chaired by the African Development Bank (AfDB) Group President, Donald Kaberuka.
This week's G-20 summit is essentially an echo chamber for the world's wealthy to talk macrofinance. The world economy might rebound more quickly if they listen to what the poor have to say about microfinance.
As G20 leaders gather in London on 2 April, the focus of their agenda will be on working together to promote effective, coordinated responses to the global economic crisis and to the state of global trade. In the context of the crisis, the immediate priority of many governments and trade experts is rightly to create and implement a strategy that will offset declining trade and investment, particularly in developing countries where the crisis threatens to impede economic growth and development progress made in recent years. In an effort to address these pressing issues and provide suggestions for G20 leaders’ deliberations, ICTSD partnered with the Global Economic Governance Programme (GEG) to gather short essays from a broad range of scholars and experts around the world.
Billionaire investor Gorge Soros has said the G20 summit will be a "make or break" event for the world's economy. He said the G20 meeting had to come up with concrete solutions to help the developing world in particular, which had been been worst hit.
The head of China's central bank proposed Monday a plan to displace the American dollar as the world's standard and replace it with a global reserve currency operated from the International Monetary Fund.
If the Group of 20 leading and developing nations meeting in London this weekend pushes the food problem to the back burner to focus only on financial stabilization, the annual begging for emergency food aid -- the most expensive, least sustainable form of foreign aid -- will never end. And neither will the suffering.
Welcome to this blog about Microfinance, Innovations and Sustainable Development
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