Category: International Organizations

UN Deputy Chief Comments on Development, Peace at World Bank Forum


On Tuesday, March 1, 2016, the World Bank held a forum called the 2016 Forum on Fragility, Conflict and Violence. The forum aimed to end extreme poverty around the world by 2030. The vision of the forum is mutual and sustainable prosperity through international cooperation. This was a perfect platform for United Nations Deputy Secretary-General, Jan Eliasson, to speak regarding his own vision of a peaceful future achieved through shared international interests coupled with universal economic development.

Finding Value in Sunnylands


Since ASEAN’s creation in 1967, it has contributed enormously to regional stability and prosperity. It consists of 10 countries whose populations total over 600 million people. In addition, its economy ranks collectively as the third largest economy in Asia and the seventh largest in the world.

Slowing Growth Collides with China’s Turn at G20 Presidency


The last time G20 finance ministers met in China back in 2005, the country was the world’s fifth-largest economy. As the next two-day meeting begins, with China as president, it lies in second spot, having overtaken several other G20 members: first the UK, then Germany, and most recently Japan.

With US economic momentum uncertain and concerns that the Federal Reserve’s recent interest rate rise might have been premature, many will be looking to growth in China to keep the global economy moving forward.

UN Security Council to Japan: Not Yet


January 2016 marked the beginning of Japan’s most recent two-year term as an elected, non-permanent member of the United Nations Security Council (UNSC). This is Japan’s 11th term, the most of any nation in the world. Japan’s dream is to become a permanent member of the UNSC. However, can this dream really come true?

On the G20 Agenda, A Sense of Urgency for Some


The G20 finance ministers and central bankers will meet in Shanghai starting tomorrow.   From some quarters, there is a sense of urgency.  The IMF, for example, is likely to cut its world GDP forecast of 3.4% this year.

That forecast is not even two months old.  The tightening of global financial conditions, exemplified by the sharp drop in share prices over the last six weeks is heightening anxiety among policymakers and investors alike. 

Repairing the Holes in the Global Financial Safety Net


On 4 February IMF Managing Director, Christine Lagarde warned that the global financial safety net — the international resources and institutions designated to fight economic crises and prevent contagion — has become too fragmented and asymmetric. The safety net, she said, needs to be reformed and strengthened.

Christine Lagarde to Serve Second Term as IMF Chief


For the past five years, Christine Lagarde’s face has been splashed across the media above headlines pertaining to the International Monetary Fund (IMF). Lagarde has been one of the most visible leaders of an international economic organization in recent history, and the leadership of the IMF has noticed. As a result, Lagarde has been nominated to serve a second five-year term as the head of the International Monetary Fund.

Maintaining Focus should Help Prevent an ASEAN Split


Despite its economic and strategic importance, the United States has not given priority to ASEAN until recently. There was hope that this would begin to change with the US pivot to Asia in 2009. However, up to November 2015, the progress of this ‘pivot’ seemed to be more of a ‘pirouette’. There was little in the way of results except general statements and US leaders often did not come to the meetings. Will the US–ASEAN Summit in Sunnylands, this week prove to be a turning point?

Sunnylands Summit Especially Meaningful to US Influence in Asia


Can America preserve the US-led regional order by resisting China’s challenge to replace it with ‘a new model of great-power relations’? A lot depends on how much support the United States can expect from its friends and allies in the region. That is why President Obama has invited ASEAN leaders to a special summit at Sunnylands in California next week.

Does the IMF Composition Align with Whom it Represents?


Recently, the International Monetary Fund announced “historic reforms” in its governance. In reality, changes have barely begun. The IMF does not look like the world it purports to represent.

During the global crisis of 2008/9, advanced economies could no longer contain the devastation. As a result, the G20, which includes both advanced and emerging economies, surpassed the old G7 club of Western powers.