In The News

Dealing with a Declining Dollar – Part II

David Dapice February 9, 2005
If today's US budget deficit raises concerns, then tomorrow's projections should sound an alarm, writes economist David Dapice. As the United States descends further and further into debt – by several trillion dollars over the next ten years – the value of US currency will decline. Should a worldwide "run on the dollar" result, shockwaves would resonate throughout the global...

Microentrepreneurs' Contribution to Microcredit Too Long Ignored

Ron Luhur November 17, 2004
Banks and credit facilities have long been hailed for providing small loans, or microcredit, to the poor so they can start businesses and thus raise themselves from poverty. And indeed, thanks to these loans, 94 percent of the business entities in Indonesia are small businesses, employing over 136 million people, or two-thirds of the population. But credit institutions are not alone in igniting...

First Ever Ruling for Inter-Arab Court

Magda El-Ghitany October 27, 2004
The 22-member Arab League this week handed down a verdict via its business court. Although the judicial body was established in the 1980s, it had remained out of commission until 2003, when the League renewed the court's operations. The inaugural dispute centered on the Tunisian government and a Saudi Arabian company, in which the company sued for damages surrounding the execution of...

¿Amenaza el déficit estadounidense la estabilidad financiera mundial?

Hilton Root October 15, 2004

Do US Deficits Threaten Global Financial Stability?

Hilton Root October 13, 2004
Many of the world's leading economists have issued dire warnings that US deficit spending is dangerous not only to its domestic economy - but may actually knock the entire global economy off kilter. Economist Hilton Root suggests that such concerns may be overinflated, if not misdirected. The relative stability of US social and political institutions - in spite of the cavernous deficit -...

Making Globalization Work for All

Jeffrey D. Sachs October 2, 2004
When world leaders met at the UN’s Millennium Assembly four years ago, they laid out ambitious proposals to alleviate global poverty, hunger, disease, and illiteracy. Yet in spite of a rhetorical commitment to development, says economist Jeffrey Sachs, rich nations like the US have been unwilling to commit the necessary aid. Much of the developing world is experiencing rising poverty and needs...

Africa Must Be Heard in the Councils of the Rich

Kevin Watkins October 1, 2004
The World Bank and International Monetary Fund (IMF) have come under intense scrutiny, as the two international financial institutions prepare to meet in Washington this October. Though the agencies greatly influence the shape of the global economy, critics note that their decision-making mechanisms are profoundly undemocratic and favor the interests of rich nations. Wealthy countries maintain...