COC

Focus Two: Root Causes of Debt

US should stop backing flawed economic model (June 2005)

Rethinking Bretton Woods | Mon, Jun 20, 2005

US should stop backing flawed economic model (June 2005)

Coming up hard on the G-8 Summit in Gleneagles, Scotland over July 7-8, 2005, Aldo Caliari, Director of the Center's Rethinking Bretton Woods Project, writes to The Financial Times, "In trying to assert its leadership on the debt cancellation question the US government has gone to great lengths. One would have hoped the government would have also wanted to be seen as the first, not the last, to withdraw its support for an economic model that has failed to promote growth in the developing world and, crucially, the poorest countries in need for debt relief. "
Center Staff Member Attends Conference on Middle Income Countries Debt

Rethinking Bretton Woods | Thu, Mar 10, 2005

Center Staff Member Attends Conference on Middle Income Countries Debt

Invited as a civil society participant, Aldo Caliari, of the Center's Rethinking Bretton Woods project, recently attended a roundtable meeting at the United Nations-led Consultation on Sovereign Debt on March 8 and 9.

The conference debated proposals which will be presented at the follow-up to the Financing for Development Conference. The Consultation on Sovereign Debt specifically considered issues surrounding the debt of middle-income countries.
After trying piecemeal, creditor-led approach let debtors frame comprehensive relief scheme (February 2005)

Rethinking Bretton Woods | Tue, Feb 22, 2005

After trying piecemeal, creditor-led approach let debtors frame comprehensive relief scheme (February 2005)

A letter by Aldo Caliari, Director of the Rethinking Bretton Woods project, regarding the Financial Times editorial "Tackling the Challenge of Poverty", questions the lack of a critical approach to creditors' dominance of the implementation of debt relief in assessing its results.
A Catholic Perspective on Just Debt Solutions. Ethical Principles in Favor of FTAP

Rethinking Bretton Woods | Sat, Apr 19, 2003

A Catholic Perspective on Just Debt Solutions. Ethical Principles in Favor of FTAP

"This paper responds to a statement of the managing director of the IMF that "Ethical principles, principles common to all civilisations are important, yes, essential for an international institution such as the IMF'. It explores what light can be shone on a concrete policy proposal such as the Sovereign Debt Restructuring Mechanism [SDRM] by an ethical analysis which derives from the tradition of Christian reflection embodied in Catholic Social Teaching. It outlines four core insights from this tradition: the universal destination of the goods of the earth; the limits of the market to achieve human ends; the responsibility of governments to work for the common good; and the right of people to participate in decisions that effect them. It argues that this framework gives strong support to the case made by many who argue that the international community should take the opportunity provided by the present discussion on debt crisis mechanisms to go beyond the modest reforms of the SDRM to establish a Fair and Transparent Arbitration Procedure [FTAP] to deal with the problem of recurring international debt crises."

Can There be a Civilized Solution for Debtor Countries? (2002)

Rethinking Bretton Woods | Mon, Jun 24, 2002

Can There be a Civilized Solution for Debtor Countries? (2002)

In most countries, when a company goes insolvent it can file for bankruptcy before an independent judicial body. Thereby it can compel the collectivity of debtors to restructure its debt and continue to grow. However, there is as yet no independent body where debtor countries that face insolvency could initiate a timely process for an orderly debt restructuring.

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