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11. IMF Lending Practices and Sovereign Debt Restructuring

Author:
Domenico Lombardi, James M. Boughton, and Skylar Brooks
Publication Date:
06-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The IMF has struggled for decades to develop a set of lending practices that enable sovereign borrowers to resolve serious debt problems and restore economic growth, but also respect the right of private financial markets to enter into and enforce contractual obligations. The challenge has always been to operate under a well-defined set of principles while dealing with each situation in a way that takes account of relevant circumstances. Recently, the international financial crisis that began in 2008 and the subsequent European sovereign debt crisis have raised this challenge to new heights. In providing €30 billion to Greece — the largest financial package ever granted to a single country — the IMF invoked greater discretion in its lending decisions to counteract potential "systemic" crises. By doing so, it entered a program without a restructuring agreement.
Topic:
Debt, Economics, International Trade and Finance, International Monetary Fund, and Reform

12. The Politics of the "Unfinished Business": Bosnian Police Reform

Author:
Dejan Guzina and Branka Marijan
Publication Date:
06-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
The recent protests in Bosnia-Herzegovina (henceforth, Bosnia) have once more shown the extent of the remaining challenges in the country. However, while many commentators have examined the political, economic and social roots of the protests, less attention has been paid to the role of the police in these events. Police confusion, their inability to respond to the street protests in a timely and professional manner, and allegations of the use of excessive force against protestors represent clear evidence that the stalled police reform in the country needs to be re-examined. After almost two decades of international assistance, first by the United Nations (UN) and later the European Union (EU), police reform in Bosnia remains incomplete. Since the 2012 closing of the EU police mission (EUPM) in Bosnia, the issue of police reform has been put on hold. Bosnia's multiple police services remain fragmented and lack transparency. More importantly, the lack of harmonization, coordination and civic oversight leads to political interference in policing.
Topic:
Civil Society, Human Rights, Law Enforcement, and Reform
Political Geography:
Europe, Bosnia, Herzegovina, and United Nations

13. The African Union and the Post-2015 Development Agenda

Author:
Barry Carin
Publication Date:
07-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
African countries are currently engaged at the United Nations (UN) to determine the post-2015 framework to succeed the Millennium Development Goals (MDGs). The post-2015 goals matter because they will guide the priorities of UN agencies, the multilateral development banks, bilateral development assistance and civil society organizations. It is in Africa's interests to ensure the post-2015 framework is congruent with African priorities. African Union negotiators must take a strategic approach in the current process to select the post-2015 development goals.
Topic:
Development, Governance, and Reform
Political Geography:
Africa and United Nations

14. The Role of the Informal Economy in Addressing Urban Food Insecurity in Sub-Saharan Africa

Author:
Elizabeth Fraser, Malambo Moonga, and Johanna Wilkes
Publication Date:
08-2014
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation
Abstract:
SSA is a region undergoing a significant urban transition. UN-Habitat (2014) estimates that by 2050, 58 percent of the African continent will be living in urban regions, representing an increase from 400 million individuals to over 1.26 billion. This will be accompanied by a burgeoning informal sector, which has grown rapidly since the 1960s across the continent, providing income, employment and livelihoods for millions of poor urban households.
Topic:
Poverty, Food, and Reform
Political Geography:
Africa

15. Disclosure-based Governance for Climate Engineering Research

Author:
A. Neil Craik and Nigel Moore
Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
Transparency has become a dominant theme within academic and policy discussions on climate engineering (CE) research governance. As CE research moves from modelling and laboratory studies to field experiments, there is a need to operationalize transparency; that is, to move from transparency in principle to transparency in practice. This, in turn, requires greater attention be paid to the purposes that CE research transparency is intended to serve since the ends sought, as well as the context in which they will operate, will drive the design features of disclosure mechanisms.
Topic:
Climate Change, Environment, Governance, and Reform

16. Comments on the September 29, 2014 FSB Consultative Document, "Cross-Border Recognition of Resolution Action"

Author:
Steven L. Schwarcz
Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The International Law Research Program (ILRP) of the Centre for International Governance Innovation (CIGI) welcomes the opportunity to comment on the Financial Stability Board's (FSB's) Consultative Document, “Cross-Border Recognition of Resolution Action” (hereafter referred to as the “Consultative Document”) that was released on September 29, 2014.
Topic:
International Trade and Finance, Financial Crisis, and Reform

17. Equator Principles Reporting: Do Financial Institutions meet their Goals?

Author:
Olaf Weber
Publication Date:
08-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The Equator Principles (EP) are a voluntary code of conduct for assessing, managing and reporting environmental and social impacts in project finance. This paper analyses the compliance of the 79 Equator Principles Financial Institutions (EPFI) with the seven mandatory requirements: annual reporting, disclosure of the number of transactions, assessment, risk categories, sector, region and implementation. The three findings from this study are that while all EPFIs required to disclose information do so, at least partially, only about five percent disclose all the information required by the EP guidelines. In addition, the larger the EPFI, with respect to its total assets and membership duration, the higher the reporting quality. In conclusion, further mechanisms are needed to guarantee transparent reporting of environmental and social project finance impacts.
Topic:
Environment, Human Welfare, and Reform
Political Geography:
Canada

18. Organizational Culture, Learning and Structure in Central Banks: Best Practices and the Case of the Moroccan Central Bank

Author:
Bessma Momani and Samantha St. Amand
Publication Date:
08-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
This paper provides both theoretical and empirical evidence that maintains that a central bank's organizational structure, culture and learning system are important for achieving best governance practices. It argues that a central bank's organizational structure and culture facilitate the effective implementation of governance practices that have been enacted by law or in a strategic plan, with specific reference to central bank independence, communication, transparency, professionalization, technical excellence and reputation risk management.
Topic:
Governance and Reform
Political Geography:
Canada and Morocco

19. Reforming the Global Architecture of Financial Regulation: The G20, the IMF and the FSB

Author:
Malcolm D. Knight
Publication Date:
09-2014
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The global financial crisis that began in 2007 and deepened in 2008 exposed major weaknesses in financial and macroeconomic policy coordination, and profound flaws in financial risk management and regulation in a number of advanced countries. The severity of the crisis led global leaders to recognize that they must find a way to reform the global regulatory architecture to ensure that the financial system can absorb shocks while continuing to function efficiently.
Topic:
International Trade and Finance, Markets, International Monetary Fund, Financial Crisis, and Reform
Political Geography:
United States, United Kingdom, and Europe