|KEY NOTE: Thinking the unthinkable – The global financial crisis as an opportunity for transformative and systemic change?||Podcast|
|Causes of, and responses to, the global financial crisis - Chuck Freedman, Co-Director, Centre for Monetary and Financial Economics, Carleton University|
This book provides an introduction to a wide range of issues on the World Bank and IMF, including on the institutions
When US financial powerhouse Lehman Brothers collapsed last fall, the world saw the start of an unprecedented collapse in global stock markets, bringing with it the loss of billions of dollars of investment around the world and severely shaking the foundations of the international banking system. Gloomy economic forecasts, a loss of investor confidence, and mass capital flight have all contributed to the worsening of the current global financial crisis. A decade ago, a similar situation unfolded in East Asia when market speculation sparked investors to pull out billions of dollars of capital, inflating debt and destabilizing markets in the region. In response, the Chiang Mai Initiative emerged in an effort to protect Asian markets from future crises. But has it stood up to today’s global economic collapse? And is an Asian Monetary Fund on the horizon? This brief explores these, and other, issues.
What is the Bank of the South?
On December 9th, 2007, representatives from Argentina, Bolivia, Brazil, Ecuador, Paraguay, Uruguay, and Venezuela met in Buenos Aires, Argentina, to launch “el Banco del Sur” or the Bank of the South (BoS). With the creation of the Bank, the leaders of Latin America envisaged a new development institution to help promote growth and tackle poverty. The BoS was originally proposed in 2006 by Venezuelan president Hugo Chavez. Chavez, along with other South American leaders, wanted a Bank that would allow them to assert their political and financial independence from traditional international financial institutions (IFIs), like the International Monetary Fund (IMF) and the World Bank, and put an end to decades of structural adjustment policies imposed by the IFIs on countries in Latin America.
Mine Your Own Business
December 15, 2005
November 8, 2005
April 8, 2005
Mr. John Mihevc and co-signatories
Halifax initiative Coalition
104-153 Chapel Street
Ottawa, ON KIN 1H5
Dear Mr. Mihevc and co-signatories:
Thank you for your correspondence of January 28, 2005 regarding debt relief, additional financing and other development issues. I apologize for the delay of my reply.
KAIROS Statement on Global Day of Action Against Debt Domination