Argentina after the insolvency: Not yet a plaything of "vulture funds" (October 2015)

Rethinking Bretton Woods | Thu, Oct 15, 2015

Argentina after the insolvency: Not yet a plaything of "vulture funds" (October 2015)

In 2001 amidst a profound economic and social crisis carrying tremendous human costs, and after successive adjustment programs prescribed by the International Monetary Fund had proved fruitless, Argentina had little choice but to stop payments and seek a renegotiation of the terms of its sovereign debt. Eventually, it reached deals restructuring the debt in 2005 and 2010 with more than 92 per cent of creditors who took a haircut (debt reduction) of around 70 cents on the dollar. NML Capital was among those creditors who refused to accept the terms of the agreement reached by Argentina with the majority of creditors 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’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. (Article is only available in German)

Rethinking Bretton Woods | Mon, Sep 28, 2015

Financing human rights: Historic summit ups the opportunities, but also the risks (September 2015)

In the wake of the "Transforming Our World 2030" Summit, RBW Project Director Aldo Caliari reflects on financing for human rights and the Sustainable Development Goals just adopted by Heads of State of all the world as part of the 2030 development agenda.

Investing in the SDGs: Whose Business? (August 2015)

Rethinking Bretton Woods | Wed, Aug 19, 2015

Investing in the SDGs: Whose Business? (August 2015)

The role of foreign investment in financing development has been a matter of considerable debate in the negotiations leading up to all Financing for Development (FFD) conferences. But deliberations towards the one which took place in Addis Ababa in July 2015 have seen a definite tendency to propose a greater reliance on foreign investment in financing development.

In a recent article 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. With the transnational corporate sector more involved than ever in defining policies around sustainable development, winning the struggle for the narrative around the contribution of private capital flows to development is a crucial prize at stake in the Financing for Development negotiations in Addis Ababa and beyond.

The article appeared as part of United Nations Research Institute for Social Development (UNRISD)’s series “The Road to Addis.”


Education for Justice | Wed, Aug 12, 2015

Welcoming the Stranger: Immigrants Held in Detention

A report from the associated press stated that five immigrant mothers from Central America were mistreated in U.S. detention centers. Read the whole article here: Remembering our brothers and sisters who are fleeing violence in Central America, EFJ invites you into a moment of prayer to recall the words of Jesus: "I was a stranger and you welcomed me"

Education for Justice | Wed, Aug 5, 2015

In Remembrance of Hiroshima and Nagasaki


70 years ago, on August 6 and 9, 1945, the U.S. unleashed atomic bombs over Hiroshima and Nagasaki in Japan. The atrocities that followed in the minutes, hours, days, months and years after these bombings are still remembered today. Join our prayer of remembrance as we recall "the skies that rained down fire."


Encourage members of Congress to support the Iran Nuclear Deal, an important step to prevent the repeat of another Hiroshima and Nagasaki. Call the Capitol switchboard at: +1 (202) 224-3121.