The International Finance Corporation (IFC) is to produce the first ratings of how fund managers investing in emerging markets are integrating environmental, social and governance factors into decision making.The private-sector arm of the World Bank has commissioned consultancy firm Mercer to carry out the research, which involves interviewing 50 fund managers based in China, India, Brazil and South Korea, as well as surveying more than 200 fund managers around the world who invest in emerging markets.Helga Birdgen, responsible investment leader at Mercer, said: “The in-depth nature of this research will really bring colour to the picture of what is happening in these markets and uncover the capacity for sustainable investment.” See full...
El secretario general de la ONU, Ban Ki-moon, ha mostrado un lado positivo a la actual crisis alimentaria. Y es que considera que la situación actual puede servir para llevar a la acción así como para conseguir una oportunidad para sacar de la miseria a millones de personas."Estoy convencido de que podemos manejar la crisis global de los alimentos. Tenemos los recursos. Tenemos el conocimiento. Sabemos lo que hacer. Por tanto deberíamos considerar esto no sólo como un problema sino como una oportunidad", ha asegurado el secretario de la ONU.Ban ha ofrecido la conferencia tras concluir en Berna una reunión con los directores de las agencias y organismos de Naciones Unidas, y con los dirigentes del Banco Mundial, el Fondo Monetario Internacional y la Organización Mundial del Comercio...
A new UN institution is struggling to prove that it is doing better than its unloved predecessor. Thanks to an obsession with Israel, it isn't, yetTWO years ago, the 60-year-old UN Commission on Human Rights was dumped. Kofi Annan, who was then the UN's secretary-general, gave the reason: the world's worst abusers had used the agency “to protect themselves against criticism or to criticise others”. When its successor, the Human Rights Council, started up a couple of months later, he urged it not to “squander” the new opportunity.Many feel the council has done just that. Dominated by the Organisation of the Islamic Conference and the Non-Aligned Movement, the new body stands accused of being just as politicised, and just as intent on one-sided Israel-bashing, as its predecessor....
Key United Nations development agencies are meeting in Switzerland to try to develop solutions to ease the escalating global food crisis.Led by secretary general Ban Ki-Moon, officials want to mitigate the impact of the steep rise in staple food prices and prevent food shortages worsening.The World Food Programme (WFP) has said an extra 100 million people need food aid because of higher prices.Food has become increasingly expensive, triggering unrest in several countries.See full...
The world risks wiping out a new generation of antibiotics and cures for diseases if it fails to reverse the extinction of thousands of plant and animal species, experts warned Wednesday.Biodiversity loss has reached alarming levels, and disappearing with it are the secrets to finding treatments for pain, infections and a wide array of ailments such as cancer, they said, citing the findings of a coming book.Achim Steiner, executive director of the United Nations Environment Programme (UNEP), said more than 16,000 known species are threatened with extinction, but the number could be more."We must do something about what is happening to biodiversity," he said at a news conference on the sidelines of the UN-backed Business for the Environment conference.See full...
When: 4-5 June 2008Where: Paris, FranceOECD ministers to discuss climate change, trade and global economy at annual meetingThe economic impact of climate change, rising food prices and a broad range of other trade, growth and development issues will be discussed at the OECD’s annual ministerial meeting in Paris on 4-5 June 2008. France, represented by Christine Lagarde, Minister for the Economy, Industry and Employment, will chair the meeting, with Mexico and Switzerland as Vice-Chairs. Here is a preliminary timetable of related events, all at OECD headquarters, 2 Rue André Pascal, Paris 75016.See full...
One of the great embarrassments of the economics profession is its inability to explain why some countries get rich and some don’t. Foreign Policy editor Moisés Naím, a former Venezuelan minister of industry, once compared the gap in knowledge to physicists not being able to explain how gravity works.Next month, the Commission on Growth and Development, a group of policy makers and academics led by Nobel Laureate Mike Spence, will offer its contribution to the growth debate. At a Monday conference, Spence gave something of a preview, presenting research he had done with Mohamed El-Erian, the co-CEO of Pimco, a large fund manager.Looking primarily at China’s ability to grow an average of 9% annually over 29 years, Spence said a key for poor countries was to focus on exports of...
The head of the World Trade Organization, Pascal Lamy, has called for aid policies to be refocused to improve agriculture.Speaking in the week that the world woke up to the food price crisis, Mr Lamy's demand is radical.He said food aid needed to be increased but, more than that, improvements in agriculture needed to be put back at the heart of development spending.He said it was complex and could not be done overnight.But, he added in an interview with the BBC, the shift in emphasis was essential. See full...
IFC and the United Nations Secretary-General's Special Representative on Business and Human Rights (SRSG), Professor John Ruggie of Harvard University, have released a consultation draft of the research paper they commissioned on foreign direct investments and human rights. "Stabilization Clauses and Human Rights" aims to raise awareness of the relationship between the protection of investor rights and the host state's human rights obligations under international agreements. Specifically, it examined what, if any, impact stabilization clauses and similar risk allocation provisions in state contracts with foreign investors have on the host state's ability to adopt and implement human rights laws and regulations in areas such as labor, non-discrimination, and protection of health and the...
La Organización de Naciones Unidas (ONU) hizo un llamado para que se introduzcan cambios urgentes en el modo de producción de alimentos en momentos en que abruptos aumentos de los precios amenazan con empujar a millones de personas a una situación de extrema pobreza.Un nuevo informe publicado por la Organización de Naciones Unidas para la Educación, la Ciencia y la Cultura (UNESCO) en París, recomienda mejores salvaguardas para la protección de los recursos naturales y prácticas agrícolas más sostenibles, como la producción local de alimentos.Haití, Egipto, Filipinas y varios países en África Occidental han sido escenario de protestas en semanas recientes, debido a los altos precios de productos básicos como el arroz, el trigo y la soya.See full...
IFC, a member of the World Bank Group, today announced that it will invest in the Evolution One Fund, a private equity fund, which in turn will invest in clean technologies and enterprises working to mitigate climate change in Southern Africa.IFC will invest up to $20 million in the Evolution One Fund, which will be managed by Inspired Evolution Investment Management, a South Africa-based company. The fund will invest in companies located primarily in Southern African Development Community countries. It will target climate change sectors such as renewable energy (landfill gas, solar, and wind energy) and related sectors, including water and waste management, recycling, natural products, and green buildings. IFC will work with and co-invest alongside the Consensus Business Group, a...
World Bank President Robert B. Zoellick joined ministers from Germany, Egypt, Sweden, Denmark and Liberia to take stock of the status of women in developing countries on the eve of the IMF-World Bank Spring Meetings.Zoellick announced several measures the World Bank Group plans to take to boost women’s empowerment at a seminar on ways to bridge gender gaps. A new book, Doing Business: Women in Africa, was also released.Denmark brought its campaign to raise the profile of the third Millennium Development Goal—gender equality and empowerment of women by 2015—as part of an effort to build support for gender equality before a September 25 United Nations High Level MDG summit.Zoellick, along with the German Minister for Economic Cooperation and Development, Heidemarie Wieczorek-Zeul,...
The crisis of surging food prices could mean “seven lost years” in the fight against worldwide poverty, World Bank President Robert B. Zoellick said.“While many are worrying about filling their gas tanks, many others around the world are struggling to fill their stomachs, and it is getting more and more difficult every day,” Zoellick said at a press briefing on the eve of the IMF-World Bank Spring Meetings.To meet this crisis, Zoellick is calling for a “New Deal on Global Food Policy.”For the “immediate crisis,” he urged governments to fill the US$500 million food gap identified by the UN’s World Food Program.Under the New Deal, the World Bank will nearly double agricultural lending to Sub-Saharan Africa over the next year to US$800 million to substantially increase crop...
Conditional cash transfer programmes constitute an important tool for reducing poverty and promoting social inclusion – two key objectives of the International Labour Organization. Mexico has one of the most successful programmes of this type, which was recently the focus of a seminar at the ILO headquarters in Geneva. But as it was clear from the discussion that followed, these programmes are not exempt from risks.Salvador Escobedo Zoletto likes to use the word co-responsibility when he discusses “Oportunidades”, the conditional cash transfer programme that is helping 25 million Mexicans – or nearly a fourth of the total population – deal with poverty.“Co-responsibility is a key factor in this programme, because each family plays an active role in its own development”, says...
Los programas de transferencia monetaria condicionada son una herramienta importante para la reducción de la pobreza y la promoción de la inclusión social, dos objetivos clave de la Organización Internacional del Trabajo. México lleva adelante uno de los más exitosos programas de este tipo, que hace poco fue tema central de un seminario en la sede de la OIT, en Ginebra. Sin embargo, la discusión que se generó puso en evidencia que estos programas no están libres de riesgos.A Salvador Escobedo Zoletto le gusta utilizar la palabra corresponsabilidad al referirse a “Oportunidades”, el programa de transferencia monetaria condicionada que ayuda a 25 millones de mexicanos, casi un cuarto del total de la población, a enfrentar la pobreza.“La corresponsabilidad es un factor clave...
Como consecuencia de lo que explica mi compañero Enrique esta mañana sobre el aumento de los precios de los alimentos, en un discurso interesante de Robert Zoellick, Presidente del Banco Mundial, analiza las subidas de los precios de los productos básicos de alimentación y concluye que los pobres del mundo ha perdido siete años en su desarrollo.Esto es importante ya que muchos de los pobres del cual habla están al límite de su consumo de nutrición y, por lo tanto, no se pueden permitir el lujo de una reducción.Ver Artículo...
The World Bank Group today released a new report that focuses on women entrepreneurship in Africa. Doing Business: Women in Africa is a joint effort between the IFC-World Bank Doing Business project and the World Bank’s Gender Action Plan, which was launched by German Chancellor Angela Merkel in February 2007. The report is the first in a series of regional studies. It focuses on women entrepreneurs from Cameroon, Rwanda, Senegal, South Africa, Swaziland, Tanzania, and Uganda. It looks in depth at individual businesswomen who have faced legal and regulatory obstacles in each of these countries.“This groundbreaking report is part of a gender research initiative that identifies the legal and regulatory barriers facing businesswomen in 181 countries. It highlights reforms that can...
Sovereign wealth funds could provide capital for an African super-fund to channel investment to the continent’s emerging markets, under a plan being considered by the World Bank’s private-sector lending arm.Lars Thunell, chief executive of the International Finance Corporation, told the Financial Times that a “fund of funds” was one way his organisation could achieve the World Bank’s aim of encouraging state-owned wealth pools to invest in African businesses.See full...
The crisis of surging food prices could mean “seven lost years” in the fight against worldwide poverty, World Bank President Robert B. Zoellick said.“While many are worrying about filling their gas tanks, many others around the world are struggling to fill their stomachs, and it is getting more and more difficult every day,” Zoellick said at a press briefing on the eve of the IMF-World Bank Spring Meetings.To meet this crisis, Zoellick is calling for a “New Deal on Global Food Policy.”For the “immediate crisis,” he urged governments to fill the US$500 million food gap identified by the UN’s World Food Program.See full Press...
The World Bank has warned that developing countries are unlikely to reach their targets for improving living conditions by 2015.The report warns that many of the Millennium Development Goals set in 2000 are likely to be missed.Whilst most countries are on target to reach the goals of reducing extreme poverty, they are lagging behind on health and education. See full...
The IMF predicts that the credit crunch could result in losses of as much as $1trillion (£50bn)The International Monetary Fund has suggested that fair value accounting rules be reviewed, on the back of a report which highlights how the practice exacerbated the asset prices.The global fund is the latest senior organisation calling for a change in the rules, as investment banks, accounting advisory bodies and senior executives criticised the standard in recent weeks.The IMF predicts that the credit crunch could result in losses of as much as $1trillion (£50bn).See full...
When: 3-4 June, 2008Where: OECD Conference Centre, Paris, FranceOECD Forum: The "must-go" event on today's international agendaThe OECD Forum is a "multi-stakeholder summit" which brings together business and labour leaders, civil society personalities, government ministers and leaders of international organisations to discuss the hottest issues on the international agenda. It takes place in conjunction with the annual OECD ministerial summit.Forum speakers are usually at the level of Minister or CEO. Forum 2007 attracted approximately 1600 participants from 100 countries, including 150 journalists.Doris Leuthard, Switzerland's Federal Councillor for Economic Affairs, will report to the OECD ministerial summit on the Forum 2008 discussions.The OECD Forum team is very grateful to the...
The 2008 Factbook for the Organisation for Economic Cooperation and Development (OECD) has appeared and gives a useful análisis of the state of the world. In these volatile times, well worth a...
El pasado mes de octubre, poco después de incorporarme al Grupo del Banco Mundial, y con el fin de orientar nuestra labor, presenté una visión cuyo objetivo era lograr una globalización incluyente y sostenible, como medio de acabar con la pobreza, impulsar el desarrollo sin olvidar el medio ambiente y crear oportunidades y esperanzas para los individuos.El mes siguiente, participé en una reunión del Grupo de los Veinte celebrada cerca de Ciudad del Cabo, que contó con la participación de ministros de hacienda y gobernadores de bancos centrales de países desarrollados y en desarrollo, bajo la competente dirección de Trevor Manuel, de Sudáfrica.Durante las deliberaciones formales, algunos participantes, al examinar el tumulto financiero del verano, comenzaron a presagiar la serie...
El 4 de marzo a las 8:30AM se presentó en el Miraflores Park Hotel en Lima-Perú el Informe sobre el desarrollo mundial 2008: Agricultura para el desarrollo. Las palabras de bienvenida estuvieron a cargo del Ing. Ismael Benavides, Ministro de Agricultura. La presentación la realizó Willem Janssen, Especialista principal en agricultura del Banco Mundial. Asimismo, se contó entre los asistentes con la presencia del señor Luis Felipe Araujo, Viceministro de Agricultura. El panel estuvo integrado por Franklin Sánchez Ortiz, Presidente de la Comisión de Agricultura del Congreso de la República, por Carolina Trivelli, Directora de Economía del Instituto de Estudios Peruanos IEP, y por José Chlimper, Presidente de Corporación Drokasa S.A. El evento de presentación del Informe se...
El presidente del Banco Mundial (BM), Robert Zoellick, pidió una acción coordinada a nivel global para contrarrestar los efectos de la crisis alimentaria.Según el funcionario, el aumento de precios en los alimentos está generando desabastecimiento, hambre y desnutrición alrededor del mundo.Debido a esta situación Zoellick cree que 33 países en el mundo afrontan la posibilidad de malestar social o político debido a los elevados precios de los alimentos y la energía. Ver Artículo...
Dada la agitación en que se encuentran los mercados financieros, los países en desarrollo, a menudo vulnerables a crisis externas que escapan a su control, están inquietos sobre las posibles amenazas que puedan afectar su propia estabilidad macroeconómica.Si bien muchos de estos países muestran ahora mejor capacidad para adaptarse a los trastornos de los mercados financieros de los países ricos, la agitación permanente, en conjunto con la desaceleración del crecimiento mundial, significa una amenaza considerable para las economías en desarrollo.Muchos países han acumulado grandes reservas externas para protegerse contra las fluctuaciones de la tasa de interés y del tipo de cambio, así como de interrupciones a corto plazo en el financiamiento, pero las reservas son sólo una...
Hace un año, el Grupo del Banco Mundial lanzó un Plan de acción sobre género para destrabar el potencial económico de la mujer en los países en desarrollo.El plan, titulado “La igualdad entre los sexos como economía inteligente” [Gender Equality as Smart Economics], centra su atención en facilitar el acceso de la mujer al mercado y en promover la autonomía de la mujer para competir en dicho mercado. Mejorar el acceso de la mujer a los mercados de la tierra, el trabajo, la agricultura y las finanzas ayudará a mejorar su productividad e ingresos, lo cual beneficiará a sus familias y a la economía en su totalidad.Desde su creación, el plan ha asignado US$14,9 millones, aproximadamente un tercio de sus fondos, al respaldo de actividades relacionadas con el género en 71...
Se inicia hoy el registro por Internet de medios de prensa para las Reuniones de Primavera del FMI y el Grupo del Banco Mundial El registro por Internet de medios de prensa para las Reuniones de Primavera del Fondo Monetario Internacional (FMI) y el Grupo del Banco Mundial, que se celebrarán en la ciudad de Washington el 12 y 13 de abril, comienza hoy, lunes 25 de febrero de 2008.Los periodistas necesitan una acreditación válida para cubrir los informes para la prensa y los eventos que se realicen tanto en la semana previa a las Reuniones del Comité Monetario y Financiero Internacional y del Comité para el Desarrollo como durante las propias reuniones.Las acreditaciones se podrán obtener a través del sitio web del FMI:Ver Nota de Prensa...
On-Line Press Registration for IMF-World Bank Group Spring Meetings Opens TodayOnline Press Registration for the International Monetary Fund (IMF)and World Bank Group Spring Meetings April 12-13, 2008 in Washington, D.C., is opening today Monday, February 25, 2008.Journalists need valid accreditation to cover press briefings and events in the week leading up to and during the Meetings of the International Monetary and Financial Committee and the Development Committee.On-line accreditation will be available via the IMF’s website at:See full Press...