Thinking the unthinkable – The global financial crisis as an opportunity for transformative and systemic change?
The role of the UN in addressing the crisis - Recommendations from the UN Commission of Experts
Dr. José Antonio Ocampo, Director, Program in Economic and Political Development, School of International and Public Affairs, Columbia University and member of the Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System.
Impacts of the crisis and expanding the agenda for change
Jomo K. Sundaram, Assistant Secretary-General for Economic Development, Department of Economic and Social Affairs, United Nations
Causes of, and responses to, the global financial crisis
Chuck Freedman, Co-Director, Centre for Monetary and Financial Economics, Carleton University.
Thinking the unthinkable – The global financial crisis as an opportunity for transformative and systemic change?
Welcome and introduction to the panel.
Moderator: Kari Polanyi Levitt, Emerita Professor of Economics, McGill University
| Topic | Presentation | Speech |
| 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 |
A Call to Action
A Citizen's Agenda for Reform of the Global Economic System
I. INTRODUCTION: Open the Debate
World Bank Fund Suspension in Chad: Local Implications for AIDS Work
The Chadian government recently amended their Petroleum Revenue Management Law for the Chad-Cameroon pipeline by removing the 'future generations fund' (10% of direct oil revenues are placed in an account for future use) to be able to access more oil revenues. This was due to a recent change in national priorities in favour national security and territorial administration, away from such issues as health care. The World Bank perceived this change as unacceptable and in January 2006 suspended their $124 million loan for eight active projects in Chad (See Issue Update Vol. II, No. 1). Three days of talks between the Chadian government and the Bank ensued. The discussions covered Chad's social spending and its critical budget shortfall, as well as the increases in border security to tackle the influx of refugees coming from the Darfur region of Sudan. Despite the changes made by the Chadian government, the Bank has maintained its suspension, and plans 'to safeguard the oil revenues intended for poverty reduction programs included in its original agreement with Chad.' A way forward is not clear.
G8 Debt Proposal gains support at World Bank/IMF Annual Meetings
The World Bank and International Monetary Fund (IMF) have advanced a plan for cancelling debts owed by 18 low-income countries, at their September 23-25, 2005 annual meetings. The plan, first proposed by the Group of 7 (G7) Finance Ministers last June and then ratified by G8 (G7 plus Russia) heads of government at their July Summit in Gleneagles, Scotland, applies only to those countries that have graduated from the Heavily Indebted Poor Countries (HIPC) Initiative (See Issue Updates July and August 2005, respectively, for more). It would cover 100 % of their debts owed to the World Bank's International Development Association (IDA), the IMF and the African Development Bank's African Development Fund (AfDF).
The New President's Challenges ' Who's Going to Reform the World Bank?
This Wednesday Paul Wolfowitz will walk into an imposing glass and steel building on 18th Street in Washington, D.C. and start his first day in what could be the most challenging job he has ever held. As the 10th President in the 60-year history of the World Bank, Mr. Wolfowitz will have an unprecedented opportunity to help steer the direction of development as we rapidly move towards the Millennium Development Goal targets.
His new position could allow him to help to truly bring opportunity, choice and prosperity to the poorest areas of the globe. But to do so he will have to confound his critics, defy skeptics and dramatically change both his approach to the international community and more importantly the attitude and engagement of the institution he now heads.
