The Centre for International Governance Innovation (CIGI) is pleased to announce the appointment of economic and financial historian Harold James as a CIGI Senior Fellow, effective immediately.
CIGI co-publishes paper series on ‘way forward’ for internationalization of Asian and BRICS’ currencies
Asian and BRICS’ nations’ growing economic weight and prominence in the G20 affords them a unique opportunity to play a constructive role in reforming the international monetary system (IMS), in key areas such as currency internationalization and orderly adjustment. These are among the conclusions of a new paper series co-published by the Asian Development Bank (ADB), The Centre for International Governance Innovation (CIGI) and the Hong Kong Institute for Monetary Research (HKIMR).
This project examines how and why dairy systems in place in four countries and one region remain critical factors in question at the World Trade Organization and the Organization for Economic Cooperation and Development. The project will also explore difficult stumbling blocks for Canada, influencing trade negotiations like the Comprehensive Economic and Trade Agreement (Canada-EU) and the Trans Pacific Partnership. Researchers will attempt to answer the following questions: Why is dairy so important, given its relative economic insignificance in international talks? How is each dairy system configured, and how does this configuration shape the politics and international negotiating strategies of countries when it comes to their willingness to engage in international dairy tariff and quota cutting exercises?
During the European debt crisis, the IMF departed from the framework that had been established to govern its role in large bailouts. Specifically, a key condition for the IMF lending—a judgment, based on rigorous analysis, that the supported program of policies and other financing would put the receiving country’s debt on a sustainable path—was effectively eliminated. This change allowed the lending arrangements to go ahead despite widespread views that debt burdens of the crisis-stricken countries were unsustainable. The practical upshot of this change is highly controversial: did it save the euro area from undue economic stress of an early restructuring (at least of Greek debt) or did it simply delay an inevitable restructuring with consequent costs to taxpayers, the recovery in Europe, and the health of the global economy?
CIGI Senior Fellow Bessma Momani commends World Bank president Dr. Jim Yong Kim's goal of eradicating extreme poverty by 2030, but thinks the target is “over the top.”
Researchers are investigating the relationships among global governance, international organizations, and development aid practices in the context of assisting displaced populations.
An innovative G20 interpretation of the rules of the International Monetary Fund (IMF) may be required to finance global environmental public goods, according to a new commentary by Barry Carin, a senior fellow at The Centre for International Governance Innovation (CIGI).
"The WTO is at a crossroads.... It is currently fraught with the institutional frictions and challenges typical of much older organizations, such as the United Nations," says Senior Fellow Debra Steger, commenting on the challenges ahead of incoming WTO director-general Roberto Azevedo.
Senior Fellow Debra Steger discusses the the growing challenges facing the new World Trade Organization Director-General Roberto Azevedo, as the gorwing number of bilateral agreements threatens the body's international clout.
Two roads diverged in a yellow wood,
And sorry I could not travel both
And be one traveller, long I stood
And looked down one as far as I could
To where it bent in the undergrowth;
Then took the other, as just as fair,
And having perhaps the better claim
Because it was grassy and wanted wear,
Though as for that the passing there
Had worn them really about the same,