Rethinking Bretton Woods | Mon, Nov 16, 2015

Argentina after the insolvency: Not yet a plaything of "vulture funds"

After the profound economic and social crisis that engulfed Argentina in 2001, the country renegotiated the terms of its sovereign debt with more than 92 per cent of its creditors. NML Capital was among those creditors who refused to accept the terms of the agreement reached with the majority and sued the country in US courts for payment of a 100 per cent of their credits.

In an article appeared on the German Forum on Environment and Development’s magazine, RBW Project Director Aldo Caliari explains how NML Capital’s practice fits into a business model adopted by “vulture funds” and what is at stake in Argentinean attempts to fend off their judicial and political tactics.(Photo credit: CC/Flickr/Jubilee Debt Campaign).

Center of Concern | Mon, Nov 16, 2015

Antalya G20 Summit gives birth to new infrastructure finance model: Will it be for the better?

On November 15-16, 2015, the Leaders of the Group of 20 countries meet in Antalya, Turkey, for their annual summit. After five years in which the issue of investment in infrastructure has been consistently on the G20’s agenda, at this summit there will be already a substantial number of work products for the group to consider. Throughout these studies and papers –most of them commissioned from international organizations such as the World Bank and OECD – the contours of the G20’s vision for infrastructure finance emerge with increasing clarity. How will the balance between financial interests and the human rights of citizens and communities seeking access to better infrastructure be affected? The following articles offer a good glimpse. (Photo credit: CC/Flickr/International Monetary Fund)

The G20’s principles for institutional investment: A Trojan horse for finance-driven infrastructure?

Mega-infrastructure as “structural adjustment 2.0”

A Standard Contract for PPPs the World Over: Recommended PPP Contractual Provisions Submitted to the G20

Five things that can promote transparency in Public-Private Partnerships

Read a RightingFinance blog and a Eurodad blog.

Rethinking Bretton Woods | Fri, Oct 30, 2015

Human rights issues in private market financing for infrastructure

In the last few years, policy-makers have been turning their attention to ways to mobilize the USD 85 trillion reportedly held by institutional investors such as pension funds, insurance companies and private equity funds to finance infrastructure. A model of financing with some distinct characteristics is emerging as a result.

While human rights law creates obligations for all parties involved in an infrastructure project, the involvement of institutional investors in the financing or operation of the infrastructure entails additional consequences for financial regulation. (Photo credit: CC/Flickr/Wally Gobetz)

Learn more by reading this new publication by RightingFinance.

Center of Concern | Wed, Oct 21, 2015

CoC assesses outcomes from Lima meeting of global financial institutions

On October 9 through 11 2015, the World Bank and IMF held their Annual Meetings in the city of Lima, Peru, after nearly 50 years without holding such meetings in Latin America. The institutions attempted to seize the opportunity to depict an alleged “Peruvian miracle” in which their influence would have played a major role. But a very different story is the one that emerged from reflections by civil society gathered at the alternative forum “Belying the Peruvian miracle,” reports Center of Concern team member Aldo Caliari.

Read full article.

Read about CoC activities in Lima.

Rethinking Bretton Woods | Fri, Oct 16, 2015

Financing for human rights: Will the Sustainable Development Goals help?

How will financing for human rights be affected by the Sustainable Development Goals? In the wake of the historic United Nations Summit that adopted “Transforming Our World: the 2030 Agenda for Sustainable Development,” RBW Project Director Aldo Caliari’s blog, originally appeared on, reflects on this question. Do the new goals improve over their predecessor, the eight Millennium Development Goals and their respective provisions for means of implementation, especially financial ones?

Read full article.

Investing in the SDGs: Whose business?

Rethinking Bretton Woods | Mon, Sep 28, 2015

Investing in the SDGs: Whose business?

The negotiations leading up to the Financing for Development conference that took place in Addis Ababa in July 2015 saw a definite tendency to propose a greater reliance on foreign investment in financing development.

In a recent article written for United Nations Research Institute for Social Development’s series “The Road to Addis,” RBW Project Director Aldo Caliari examines the Addis Ababa conference’s approach to the regulatory role of the state, the practices of using aid as an incentive to attract private sector funding, and Public Private Partnerships (PPPs) and institutional investors’ role in closing the infrastructure finance gap.

Read full article.

Rethinking Bretton Woods | Sat, Sep 19, 2015

CoC at international solidarity, sustainable development gatherings

On September 22 and 23, 2015, CoC team member Aldo Caliari will be in Panama City (Panama) to attend a Latin America and Caribbean regional consultation convened by the UN Independent Expert on Human Rights and International Solidarity, Ms. Virginia Dandan. The consultation aims to gather participants’ insights, drawn from their own knowledge and experiences, relevant to the proposed draft declaration on the right to international solidarity. Caliari’s intervention will address structural dimensions of the realization of the right to international solidarity.

On September 24 through 27, he will be in New York to participate of activities surrounding the UN Summit that will approve the “2030 Agenda,” including the Sustainable Development Goals (SDGs). On September 28th, he will be a panelist at a side-event organized by the Leading Group on Innovative Financing for Development: “Innovative financing: showcasing solutions to implement the Global Goals for Sustainable Development.” He will also speak at a reflection day organized by CIDSE to analyze the outcomes of recent UN conferences in the light of the teachings of the Pope’s recent Encyclical, Laudato Si.

Rethinking Bretton Woods | Wed, Sep 9, 2015

CoC advocates principles on sovereign debt restructuring

As the UN gets ready to take action on what would provide, for the first time, a multilateral set of principles to apply in sovereign debt restructurings, Center of Concern joins fellow organizations working on debt in a letter to member countries requesting their support.

The principles would help indebted countries restructure in a fair, timely and orderly fashion, protect transparency and fend off minority creditors’ attempts to achieve extraordinary gain by sabotaging deals reached with the majority of creditors.

Read more.

Read blog appeared on

How can National Development Banks support human rights?

Rethinking Bretton Woods | Sat, Aug 29, 2015

How can National Development Banks support human rights?

After the global financial crisis, the need for a strong developmentalist State to play a role in the economy has been gaining currency. National Development Banks are one of the instruments a State can use to spur the development process, especially where market-based approaches will fall short of the desirable social outcomes. This primer released by RightingFinance discusses this institution and how human rights principles are applicable to their utilization.

Download document.

Read a blog on the same subject.