In The News

Lifting Africa's Debt Sentence

Doug Saunders June 13, 2005
A summit of financial ministers from the G-8 announced on Saturday that 18 of the world's poorest nations, most of which are in sub-Saharan Africa, will be relieved of their debt burdens. The beneficiaries – deemed to have satisfactory governments and economic structures – were selected via an intensive vetting system. The agreement has sparked opposition on both sides of the African aid...

Agreeing on Africa, Up to a Point

June 8, 2005
As incoming president of the G-8, Tony Blair has made reducing African poverty the focus of his agenda, aiming to pardon the continent's staggering debt and increase aid by US$50 billion. But he faces opposition from Germany, France, and Japan – who propose focusing efforts on just five developing countries – as well as the United States, reluctant to double its aid. With Africa's...

Washington and the Chavez Question

Patrick Esteruelas May 25, 2005
Many fear that Venezuelan president Hugo Chavez may successfully create a substantial leftist, anti-American political bloc in South America. But as the Financial Times notes, Chavez's strategies – combining populist rhetoric, left-leaning militarism, and natural resource manipulation – may not be quite so successful. Venezuela's oil has been a key tool in shaping regional politics:...

‘Developing Countries Should Have a Bigger Say in the World Bank and IMF’

May 20, 2005
In a recent interview with YaleGlobal editor Nayan Chanda, Kemal Dervis, former Minister of Economic Affairs in Turkey and author of the book A Better Globalization, talks about reforming the United Nations Security Council and the role of international financial institutions. Excerpts of the interview follow.

Of Flying Geese and Sitting Ducks: Brazil Stares, East Asia Takes Off…

Marcos Jank May 17, 2005
While East Asian countries steadily continue their economic development, Latin American nations still trail in achieving sustainable growth. The difference, according to this InfoBrazil commentary, can be attributed to the diverging economic policies of the two regions. Since the 1980s, East Asia has sought to attain global competitiveness by prioritizing exports, outsourcing labor-intensive...

Argentina or the "Principles"?

Ernesto Zedillo May 10, 2005
Financial instability in emerging market countries has been a major concern for the international financial system. Argentina's debt crisis, during which the country's entire financial sector collapsed, triggered serious discussions on how to improve the world's response mechanisms in times of crises. After several years of negotiation and consultation, an association of private...

'Wake Up and Face the Flat Earth'

April 18, 2005
Since Columbus discovered the New World in 1492 and reconnected peoples that had been separated for ten millennia, globalization has become increasingly fast-paced. The interconnected world, facilitated by information technology and trade liberalization in the late 20th century, is the most recent wave of human societies' efforts to connect each other even more closely. In his previous book...