Friday, 26 July 2013
In her spring statement on the International Monetary Fund’s (IMF’s) work program, Managing Director Christine Lagarde stated that “completing the 2010 quota and governance reform is essential to the Fund’s legitimacy and effectiveness."
Wednesday, 24 July 2013
The political dimensions of Russia hosting the G20 in September are generally overlooked, but they deserve more attention. The success of the St. Petersburg meeting is very important to Russia politically, and to President Vladimir Putin personally. Putin would like to show Russians that he is a world-class leader and that Russia should be taken seriously.
Wednesday, 24 July 2013
Much has changed since the crisis-driven G20 summits in London and Pittsburgh in 2009. The London summit promised action to strengthen regulation and supervision of financial institutions as well as improved cooperation, notably in launching an early warning “exercise” and work on “exit strategies.” The Pittsburgh summit promised an end to an “era of irresponsibility” and noted that the leaders’ prompt and aggressive policy response “worked” by planting the seeds of a return to stability following a global economic contraction. Echoing the sentiments of the London summit the leaders also committed their governments to “… avoid any premature withdrawal of stimulus. At the same time, we will prepare our exit strategies and, when the time is right, withdraw our extraordinary policy support in a cooperative and coordinated way, maintaining our commitment to fiscal responsibility.”
Wednesday, 17 July 2013
According to Thai legend, albino elephants were regarded as holy. If a Thai king became dissatisfied with a subordinate, the king would give him the “gift” of a white elephant. Keeping a white elephant was very expensive and, in most cases, would ruin its owner, as they would have to provide special food for the elephant as well as access for people to worship it. It may be that the development issue has a similar dimension for the G20. Does the positive value added by consideration of the development issue outweigh the burden? Is development a linchpin of the G20 agenda, since sustainable growth and prosperity in this interconnected world is dependent on the experience of developing and emerging countries? Or, is the development area a Potemkin village of intransigent issues?
Tuesday, 16 July 2013
"Given the state of the global economy, unconventional monetary support should continue to be an important part of the policy mix to promote global economic recovery and growth. But is it enough?" asks CIGI Distinguished Fellow Paul Jenkins, writing on the appropriate policy responses to the next phase of global recovery.
Wednesday, 10 July 2013
CIGI) is pleased to announce the appointment of James M. Boughton as a CIGI Senior Fellow, effective immediately. Mr. Boughton is the former historian of the International Monetary Fund (IMF), a role he held from 1992 to 2012.
Thursday, 4 July 2013
Given the state of the global economy, unconventional monetary support should continue to be an important part of the policy mix to promote global economic recovery and growth. But is it enough? While the risks and concerns about the prolonged use of unconventional policies cannot be ignored, the more serious issue comes from a much broader policy perspective: that sustained global economic growth, sufficient to absorb economic slack, has not yet been firmly established.
Sunday, 23 June 2013
CIGI Senior Fellow Bessma Momani gives an interview to Province Wide on the G8 and the conflict in Syria.
Thursday, 20 June 2013
The Centre for International Governance Innovation (CIGI) is pleased to announce the appointment of sovereign debt crisis experts Richard Gitlin and Brett E. House as CIGI Senior Fellows, effective immediately.
Tuesday, 18 June 2013
"There are many reasons why the G8 has become a shadow of its former self, and Prime Minister Stephen Harper recently put his finger on one major limiting factor – the inclusion of Russia, which, under Vladimir Putin, has moved steadily away from the principles of democratic government that underpinned the old G7," according to CIGI Distinguished Fellow Fen Osler Hampson and Derek Burney.