Sunday, 16 November 2014
The G20 meetings in Brisbane included discussions on strengthening the tax systems and the final communique included the commitment that "profits should be taxed where economic activities deriving the profits are performed and where value is created".
Saturday, 15 November 2014
If the G20 Summit this weekend had a buzz phrase, it was growing the world economy by an additional 2 per cent of collective GDP. The Australian presidency of the G20 focussed on this target as its hallmark diplomatic success. With the objective backed by two studies – from the International Monetary Fund and the Organisation for Economic Co-operation and Development – the Australians want the G20 summit to feature this goal at the expense of all other issues, like climate change, combatting Ebola, conflict in Ukraine or the war on ISIS.
Thursday, 13 November 2014
What is the G20 meeting and is it useful? Since its creation, the key impetus of the meetings has been to get the most important leaders of the G20 in a room to decide on ways to promote economic growth and help solve the economic, political, and social issues of the time.
Wednesday, 12 November 2014
Like so many issues before the G20, the hope and optimism for global coordination seemed limitless in 2008 when the finance ministers' club was upgraded to the leaders' level. After the cusp of the global financial crisis, the G20 meetings promised to fix many of the structural flaws of the global system. One of the most striking shortcomings of the global financial architecture was the relative weakness of emerging market economies' voice and votes at the leading global financial institutions like the IMF and World Bank.
Tuesday, 8 April 2014
"In some ways, the International Monetary Fund prefers to see itself as a preventative tool and not a financing tool," writes CIGI Senior Fellow Bessma Momani in her summary of CIGI's co-sponsored event The IMF: What Is It Good For?
Tuesday, 12 November 2013
I had the opportunity to attend the Emirates Foundation Annual Philanthropy Summit in Abu Dhabi, where panellists discussed a number of trends and challenges in the field of philanthropy and development. One issue that was not discussed, but stands out to me, is how the number of actors in the field of development is increasingly dispersed and diffused.
Thursday, 31 October 2013
There are two trends that in the commodities sector, particularly on energy, worth noting include the rapid consumption of a middle class in emerging market economies like China and the exploration of oil and gas rising in the global marketplace.
Tuesday, 15 October 2013
On the sidelines of the IMF-World Bank annual meetings, the Toronto Centre- that is mandated with training regulators and supervisors from over 170 countries- had hosted an enlightening conversation on whether regulatory and supervisory best practices can be taught.
Thursday, 10 October 2013
Listening to Daniel Tarullo, Governor of the Federal Reserve system of the United States at the Bretton Woods Committee discuss the state of global financial reforms was a fascinating insight into the careful work before policymakers. What are the reflections of individuals in the rooms and corridors of vital regulatory organizations?
Monday, 9 September 2013
The world has little patience for the regime of Bashar al-Assad at this point. With hundreds of thousands of dead, two million refugees – half of which are children – and four million internally displaced throughout the Syrian territory, there are no shortage of victims and witnesses to Mr. Assad’s brutality. His attempt to counter Mr. Obama’s media offensive with a live interview will not redeem his image.
Friday, 30 August 2013
The world has watched Syria being destroyed from within for more than two years. The death toll has mounted steadily, month after month, and refugees continue to pour into neighbouring countries. The country’s infrastructure is being obliterated. With 100,000 dead and likely more to come, millions internally and externally displaced, and thousands imprisoned, injured, maimed, and psychologically scarred, it is getting worse everyday.
Thursday, 29 August 2013
Earlier this year, the Independent Evaluation Office (IEO) released a valuable report on the 'The IMF's Role as a Trusted Advisor.' Known for its candour and independent assessment of the IMF, the IEO held little back in assessing how the IMF has fared in carrying out this important role.
Tuesday, 6 August 2013
With so many terrible realities dominating the headlines in the Middle East, it is easy to be pessimistic about the region. In my new study in Global Policy, I make the case that the Middle East is actually a region to watch as an up and coming economic market that will be ripe for business opportunities, investment and economic growth.
Thursday, 25 July 2013
Egypt’s military leadership is playing with fire. During a televised cadet graduation ceremony on Wednesday, General Abdel Fattah al-Sisi called for Egyptians to return to the streets to show that they back the military and its mandate to confront “violence and potential terrorism.”
Tuesday, 16 July 2013
Where do good development ideas come from? This is an important question for the health of the global economy. As a former student of international development studies, my colleagues and I spent a great deal of time trying to understand how to formulate good development policies, the pitfalls to avoid and the unintended consequences of not knowing the local conditions and circumstances that lead to policy failure.
Tuesday, 7 May 2013
There will be no intervention in Syria until the crisis explodes. Sadly, the country is already imploding under the unbearable pressure of a civil war that has already cost 80,000 lives, driven millions from their homes, and destroyed countless dollars worth of infrastructure. But Syrian President Bashar al-Assad will continue to deploy everything from airstrikes to “small-scale” chemical weapons against his own people with impunity until his atrocities spark a full-blow regional explosion.
Monday, 29 April 2013
At the IMF-World Bank meetings this past week, there were plenty of assessments of the state of the global economy that described the post-2008 recovery as anemic. Only a few went so far as to claim that the global economy is comatose. Yet, despite general agreement on the diagnosis, there was little consensus on how to solve the problem.
Wednesday, 17 April 2013
At the IMF World Bank Spring meetings, there are plenty of concerned faces in the rooms of policymakers, analysts and global economic experts. It is usually hard to find a happy smiling bunch of economists and financial analysts, so this may be a selection bias. Nevertheless, what are the issues on the table at the IMF meetings? Well, it is still hot money.
Tuesday, 9 April 2013
If you have been reading The Economist, Financial Times and other financial papers, you'll notice an odd conundrum that to me, as a political economist, does not add up. On the one hand, we are told in Western media that capital is increasingly held in the private sector's coffers. Private companies and firms are sitting on capital and not spending it. Worried that a rainy day is before them, so we are told, those in the private sector have not expanded their operations.
Wednesday, 20 March 2013
Cyprus, a small island of one million people, has very large banks. In fact, the banks have the wealth of eight times the entire Cypriot economy. Obviously, this doesn’t add up and that’s because Cyprus has become an offshore financial centre, offering a haven for money transfers, money laundering, and Internet banks. Foreigners from Russia, worth nearly €20 billion, have been attracted to these lax rules in setting up bank accounts that accompany low corporate tax rates.