Just eight weeks after IMF Managing Director Dominique Strauss-Kahn ventured the expertise of his organization to help the international community to “think outside of the box” on climate financing, the IMF staff has delivered: Print-fresh from Washington’s 19th Street comes a short, but content-heavy paper by two IMF economists on how an international Green Fund partially financed by climate-SDRs could be set-up with the goal of generating some US$ 100 billion per year by 2010. By Liane Schalatek
The good news: the IMF says it does not want to create, finance or manage the Green Fund — unless, of course, a G20 decision might force the institution to do it anyway… Alas, this seems at present quite unlikely, since apparently the IMF’s Board of Directors already rejected the proposal in a formal board meeting a few weeks ago ... ... this article will come up in WDEV 2/Mar-Apr 2010 and is for subscribers only. For direct log in >>> click here.If you have no subscription >>> pick your option or >>>
Jean-Claude Juncker, the new President of the European Commission and his "winning team" start to work officially on 1 November 2014. The former Prime Minister of the small state and fiscal paradise Luxemburg (500,000 inhabitants) is trying to spread the sentiment of breaking new ground for the European Union after five years of financial, economic, and increasingly, political, crisis.
The recent outbreak of the Ebola virus in Western Africa which started in December 2013 is leading to media hyped worries about its global spread to developed countries since the first human-to-human transmission of the disease in an US hospital (Dallas/Texas). Despite these concerns the brutal reality of the outbreak in the Western African countries plays only a marginalized role in that global media drama.
In November 2013, the G20 supported an action plan of the OECD against the '[tax] base erosion and profit shifting' (BEPS), i.e. tax avoidance, by multinational companies. This plan is now being worked out by the members of the OECD and the G20 - a total of 44 states - till the end of 2015.
Having avoided a deep depression, stabilized financial markets and recovered the ground lost during the crisis years, there is a growing belief in some policy circles that the global economy is back to normal. But UNCTAD's 2014 Trade and Development Report suggests that tight fiscal policy, flexibilisation of labour markets, active monetary policies and the reliance on buoyant asset prices cannot bring the world economy back to robust health.