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Rethinking the international financial system during a time of crisis
Introduction
On October 19 and 20, 2009, the Halifax Initiative held a conference, co-hosted by The North South Institute, the University of Ottawa and the School of International Development and Global Studies (SIDGS), entitled "What’s Missing in the Response to the Global Financial Crisis?" The meeting brought together experts from a range of backgrounds to analyze the challenges facing the global economy, discuss the ways in which the international community has responded to the current financial crisis, and identify shortcomings in these responses.
Click here for complete paper in pdf
Prepared by Özgür Can and Sara Seck, for the ECA-Watch, Halifax Initiative Coalition and ESCR-Net
INTRODUCTION
International human rights law has traditionally focused on establishing the obligations owed by states to individuals. Much recent attention has been given to the question of whether non-state actors, such as transnational corporations, can be considered subjects of international law and as such duty bearers of international human rights obligations. However, less attention has been given to the equally significant question of whether financiers of transnational corporate activities have an obligation to ensure that the activities they support comply with international human rights norms. This paper will explore the international human rights obligations of one type of financial institution: officially supported export credit and investment insurance agencies (Export Credit Agencies or ECAs). ECAs are primarily public or publicly mandated institutions that support and subsidise national trade and investment activities, particularly in developing and emerging markets.
The UN Multilateral Environmental Agreement /Financial Mechanism
as a Model for Currency Transactions Tax Governance and Revenue Redistribution
Robin Round
Policy Analyst
Halifax Initiative
Vancouver, CANADA
rjround@halifaxinitiative.org
September 2001
 |
A new CNCA web site and publication that documents, with case studies, the eight ways the Federal Government supports Canadian mining, oil and gas companies abroad. The Halifax Initiative was a contributing author to the publication.
|
The UN Multilateral Environmental Agreement /Financial Mechanism
as a Model for Currency Transactions Tax Governance and Revenue Redistribution
Robin Round
Policy Analyst
Halifax Initiative
Vancouver, CANADA
rjround@halifaxinitiative.org
September 2001
“Addressing Unsustainable and Illegitimate Debt—Strategic Options for Civil Society”
CCIC Boardroom – 3rd floor – 1 Nicholas Street, Ottawa, Ontario
February 26, 2003
Rethinking the international financial system during a time of crisis
Introduction
On October 19 and 20, 2009, the Halifax Initiative held a conference, co-hosted by The North South Institute, the University of Ottawa and the School of International Development and Global Studies (SIDGS), entitled "What’s Missing in the Response to the Global Financial Crisis?" The meeting brought together experts from a range of backgrounds to analyze the challenges facing the global economy, discuss the ways in which the international community has responded to the current financial crisis, and identify shortcomings in these responses.
Click here for complete paper in pdf
Prepared by Özgür Can and Sara Seck, for the ECA-Watch, Halifax Initiative Coalition and ESCR-Net
INTRODUCTION
International human rights law has traditionally focused on establishing the obligations owed by states to individuals. Much recent attention has been given to the question of whether non-state actors, such as transnational corporations, can be considered subjects of international law and as such duty bearers of international human rights obligations. However, less attention has been given to the equally significant question of whether financiers of transnational corporate activities have an obligation to ensure that the activities they support comply with international human rights norms. This paper will explore the international human rights obligations of one type of financial institution: officially supported export credit and investment insurance agencies (Export Credit Agencies or ECAs). ECAs are primarily public or publicly mandated institutions that support and subsidise national trade and investment activities, particularly in developing and emerging markets.
October 27, 2003
Mr. A. Ian Gillespie
President and CEO
Export Development Canada
151 O’Connor street,
Ottawa, ON K1A 1K3
The Hon. Pierre Pettigrew
Minister of International Trade
Department of Foreign Affairs and International Trade
125 Sussex Drive, Tower B, 5th Floor
Ottawa, ON K1A 0G2
Re.: Draft OECD recommendation on Common Approaches on Environment and Officially Supported Export Credits: 2003 Review – Revised version 1
Dear Mr. Gillespie and Minister Pettigrew:
Thank you for giving us this opportunity to comment on the ‘Common Approaches on Environment and Officially Supported Export Credits: 2003 Review – Revised version 1’ (Rev. 1).
What’s changed in the international financial system and its institutions, what hasn’t and what needs to
Executive Summary
Back in 1995, the G7 met in Halifax during a “time of change and opportunity.” The meeting took place in a context of mounting deficits and debt crises in countries in the South; in the wake of economic collapse in Mexico; and amid strong global criticism from civil society, the media and governments about the World Bank and International Monetary Fund’s (IMF) austere neo-liberal structural adjustment policies.
A lot has changed since then, partly in response to the Halifax G7 Summit and subsequent G7 and G8 meetings. Too many of these improvements, however, exist only on paper. Beyond the surface, the neo-liberal, market-oriented bias that guides the Bank and Fund’s agenda and thinking has not altered.
The 2010 G8 Summit in Toronto in 2010 takes place during another “time of change and opportunity.” The financial crisis has spurred many civil society organizations (CSOs) to insist on far-reaching changes to the global financial system and its institutions. Clearly, as this publication will illustrate, 15 years of refusing to deal with the manifest shortcomings of the global economic system is enough.
What’s changed in the international financial system and its institutions, what hasn’t and what needs to
Executive Summary
Back in 1995, the G7 met in Halifax during a “time of change and opportunity.” The meeting took place in a context of mounting deficits and debt crises in countries in the South; in the wake of economic collapse in Mexico; and amid strong global criticism from civil society, the media and governments about the World Bank and International Monetary Fund’s (IMF) austere neo-liberal structural adjustment policies.
A lot has changed since then, partly in response to the Halifax G7 Summit and subsequent G7 and G8 meetings. Too many of these improvements, however, exist only on paper. Beyond the surface, the neo-liberal, market-oriented bias that guides the Bank and Fund’s agenda and thinking has not altered.
The 2010 G8 Summit in Toronto in 2010 takes place during another “time of change and opportunity.” The financial crisis has spurred many civil society organizations (CSOs) to insist on far-reaching changes to the global financial system and its institutions. Clearly, as this publication will illustrate, 15 years of refusing to deal with the manifest shortcomings of the global economic system is enough.
