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rbw/investment-climate-global-economy-external-debt-rbw-events-week-april-2014

Investment climate, global economy, external debt: RBW events this week (April 2014)

Rethinking Bretton Woods | Sat, Apr 5, 2014

The Rethinking Bretton Woods Project of the Center of Concern will be involved in the following events in the occasion of the upcoming Spring meetings of the World Bank/ IMF (All events are to be held at the World Bank I Building, at 1850 I St, N.W. Accreditation to attend World Bank/ IMF meetings is required).


  • MEGA-PROJECT MANIA? WHAT ARE THE INFRASTRUCTURE TRENDS IN TERMS OF NEW/EXISTING INSTITUTIONS? SCALE? AND NORMATIVE APPROACHES?

 

April 9 2014, 9 - 10:30 AM

 

Room I 2 – 250

 

  • ENERGY SECTOR TRENDS: WHAT IS THE FUTURE FOR FOSSIL FUELS (KING COAL, QUEEN GAS), BIG DAMS, AND APPROPRIATE-SCALE RENEWABLES?

 

April 9 2014, 11:00 - 12:30 PM

 

Room I 2 - 250

 

·         HOW TO MAKE EXTERNAL DEBT SUSTAINABLE?

 

April 9 2014, 2:15 - 3:45 PM
Room I 2 – 210

 

·         FINANCIAL TREMORS IN DEVELOPING COUNTRIES: IS ANOTHER EARTHQUAKE ON THE WAY?

 

April 11, 2014, 9:00 - 10:30 AM
Room I 2 - 250

 

  • THE FUTURE OF DOING BUSINESS

 

April 11, 2014, 4:00 – 5:30 PM
Room I 2 - 210

 

See more details below:

 

On April 9 2014

 

PANEL 1: MEGA-PROJECT MANIA? WHAT ARE THE INFRASTRUCTURE TRENDS IN TERMS OF NEW/EXISTING INSTITUTIONS? SCALE? AND NORMATIVE APPROACHES?

 

April 9 2014, 9 - 10:30 AM

 

Room I 2 - 250

 

Sponsors:, Bretton Woods Project, Mott Foundation, Heinrich Boell Foundation-North America, Latindadd, Pacific Environment, International Rivers, Eurodad, Third World Network, Center of Concern

 

 

 

Existing international institutions are being re-oriented and new international institutions created - primarily for the purpose of mobilizing finance for infrastructure projects. In terms of new institutions, we are seeing movement toward formation of the BRICS Bank, the Asian Infrastructure Investment Bank, and a World Bank Global Infrastructure Financing Facility (GIFF) as well as an expansion of infrastructure operations by the Latin America Development Bank (CAF) and the Program for Infrastructure Development in Africa (PIDA), among others.

 

What is the emphasis on scale (megaprojects)? Sectors (industry and trade facilitation, energy, ports, roads, rails, water)? Norms (e.g., transparency, social, environmental, human rights, gender)? How is the G20 working to mobilize public and private finance, reform the investment climate, and ensure that obstacles to building "pipelines" of bankable projects, especially public-private partnerships (PPPs) are removed.

 

 

 

Chair:
Nancy Alexander, Director, Economic Governance Program, Heinrich Bӧll Foundation-North America

 

Panelists:

 


Jordan Schwartz, Chief, World Bank Infrastructure Hub (invited - TBC)

 

Cesar Gamboa, Executive Director, Derechos Ambiente y Recursos Naturales (DAR), Peru

 

Iderley Colombini, Economist and Researcher, IBASE, Brazil

 

Jeroen Kwakkenbos, Senior Policy Officer, EURODAD

 



PANEL 2: ENERGY SECTOR TRENDS: WHAT IS THE FUTURE FOR FOSSIL FUELS (KING COAL, QUEEN GAS), BIG DAMS, AND APPROPRIATE-SCALE RENEWABLES?

April 9 2014, 11:00 - 12:30 PM

 

Sponsors:, Bretton Woods Project, Mott Foundation, Heinrich Boell Foundation-North America, Latindadd, Pacific Environment, International Rivers, Eurodad, Third World Network, Center of Concern

 

With great consequences for the energy sector and climate change, we see some Development Finance Institutions, Export-Credit Agencies and governments moving away from coal and toward renewables, while others are doing the opposite. The World Bank and other institutions are relying more heavily on large dams and natural gas. In some places, there is a resurgence of nuclear power. At the same time, there is a commercial breakthrough in renewables such as wind and solar. Come listen and discuss these important trends and identify ways to democratize the decision-making process to help ensure sustainable development.

 

Chair
Lisa Friedman, Deputy Editor, ClimateWire

 

Panelists

 

Ajay Narayanan, Head of Sustainability and Climate, International Finance Corporation (IFC) (invited)

 

Athena Ballesteros, Project Manager, Institutions and Governance Program, World Resources Institute (WRI) (invited)

 

Peter Bosshard, Policy Director, International Rivers

 

Elizabeth Bast, Managing Director, Oil Change International (OCI)

 

 

 

HOW TO MAKE EXTERNAL DEBT SUSTAINABLE?

 

April 9 2014, 2:15 - 3:45 PM
Room I 2 – 210

 

Sponsors: Friedrich-Ebert-Stiftung, Jubilee USA Network, Erlassjahr.de

 

Panelists:  Sara Burke (Senior Policy Analyst, Friedrich-Ebert-Stiftung, New York Office), Adrian Cosentino (Secretary of Finance, Argentina), Lee C. Buchheit (Partner, Cleary Gottlieb Steen & Hamilton LLP), Aldo Caliari (Director, Rethinking Bretton Woods Project, Center of Concern), Kristina Rehbein (erlassjahr.de), Chair: Eric LeCompte (Executive Director, Jubilee USA Network)

 

Since the outbreak of the world recession in 2008 countries as diverse as Greece, Grenada, Burundi, and Ukraine have run into serious debt sustainability problems. Ultimately even the IMF had to acknowledge what academics have been warning against for years. Multilateral debt relief initiatives such as HIPC and MDRI have not solved the global sovereign debt crisis "once and for all". A recent IMF staff paper has identified some of the reasons for this in the set-up of global debt management, but has stopped short of making proposals for remedy.
One of the key elements of any debt restructuring process is the definition of a sustainable debt level for sovereigns. IFIs have developed various methodologies for distilling definitions for a sustainable debt out of a plethora of economic data and political circumstances. However, in real life, economic expertise tends to be over-ruled by political preferences (for or against relieving individual countries of their over-indebtedness) and by the dominance of creditors, who urge debtors to kick the can the road rather than solve a looming crisis in time.

 

Against this sobering background we ask for the link between the technical definition of debt sustainability and its translation into meaningful debt restructuring. How can timely and sufficient debt relief be provided? What are the missing links in global sovereign debt management? The panel discussion will provide input from policy makers as well as academic experts and civil society representatives with a long-standing record of advocating for fairness and transparency in sovereign debt workouts.

 

 

 

On April 11, 2014:

 

FINANCIAL TREMORS IN DEVELOPING COUNTRIES: IS ANOTHER EARTHQUAKE ON THE WAY?

 

April 11, 2014, 9:00 - 10:30 AM
Room I 2 - 250

 

Sponsors: Center of Concern, Bretton Woods Project, Third World Network

 

Panelists: Aldo Caliari (Director, Rethinking Bretton Woods Project, Center of Concern), Peter Chowla (Executive Director, Bretton Woods Project), Amar Bhattacharya (Director, G24 Secretariat), Bhumika Muchhala, Senior Policy Advisor, Finance and Development Programme, Third World Network

 

During the 2013 summer, the US Federal Reserve looked set to sneeze, but before it did the rest of the world had already caught the cold. Yet again in January of this year, the prospect of ‘tapering’, or rich countries’ easing-off of the unprecedented financial support (counted in the trillions of dollars) led to reverberations in developing countries and so-called emerging markets whose currencies and stock markets struggled.

 

This session seeks to analyze the ongoing risks and explore proposals to remedy a failing and out of date international economic architecture that generates them. What reforms can provide a solution to the problems associated to a domestic currency acting as the primary reserve and trading currency?  Can a sovereign debt resolution mechanism make credit provision more stable? Should developing countries rely more on tools such as capital controls, reserve accumulation, and expansionary monetary policies, and do they risk stigma for doing so?

 

THE FUTURE OF DOING BUSINESS

 

April 11, 2014, 4:00 – 5:30 PM
Room I 2 - 210

 

Sponsors: EURODAD, International Trade Union Confederation (ITUC), International Working Group on Trade-Finance Linkages, Heinrich Boell Foundation

 

 

 

The Doing Business Report is one of the most influential World Bank publications which recently came under the scrutiny of an Independent Panel commissioned by World Bank President Jim Kim to assess its value and accuracy. The panel came to some clear conclusions about existing methodological problems and noted that in its current form it undermines the credibility of the World Bank. They put forward several proposals that address these shortcomings and increase the Report's ability to promote good development results. The purpose of this session will be to facilitate a round table discussion that analyzes the Panel's findings and recommendations, gathers input from a broad range of stakeholders on how Doing Business should look in the future.

 

Chair: Mr. Aldo Caliari, Center of Concern

 

Panelists:Mr. Rogerio Studart,Alternate Executive Director (Brazil, Colombia and other countries), World Bank; Mr. Herve de Villeroche, Executive Director (France), World Bank and IMF (TBC); Ms. Sharan Burrow, General Secretary, International Trade Union Confederation; Mr. Carlos Benavente, Hemispheric Working Group on Trade-Finance Linkages