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Transatlantic News
Transatlantic News
29
Aug
Keynote speech by IMF Acting Managing Director David Lipton
At the Bretton Woods: 75 Years Later – Thinking About the Next 75 Conference
Hosted by the Banque de France
Introduction
Good afternoon! Thank you, Governor Villeroy de Galhau, for convening such an eminent group to celebrate the 75th anniversary of the Bretton Woods Institutions.
I know Christine Lagarde was looking forward to addressing you today. But once again the IMF is in a time of transition. Fortunately, we are accustomed to that. A key...
29
Aug
In our July update of the World Economic Outlook we are revising downward our projection for global growth to 3.2 percent in 2019 and 3.5 percent in 2020. While this is a modest revision of 0.1 percentage points for both years relative to our projections in April, it comes on top of previous significant downward revisions. The revision for 2019 reflects negative surprises for growth in emerging market and developing economies that offset positive surprises in some advanced economies.
Growth...
29
Aug
A group of major international companies has pledged to tackle inequality and promote diversity in their workplaces and supply chains as part of an initiative sponsored by the French Presidency of the G7 and overseen by the OECD.
The Business for Inclusive Growth (B4IG) coalition will be launched at the G7 Leaders’ Summit in Biarritz, France, which took place from 24 to 26 August 2019. Spearheaded by Emmanuel Faber, Danone Chairman and CEO, the coalition brought together 34 leading multinationals...
27
Aug
By John Bruton, former Irish Prime Minister (Taoiseach)
I have just finished reading Seamus Mallon’s autobiography, entitled a “Shared Home Place”.Boris Johnson, or one of his advisors, ought to read it if they wish to get an insight into the concerns that underlie the Irish backstop. They will learn that Brexit, and the Irish peace, are not events in themselves, but processes that will go on for years, and will either deepen or reduce division over generations to come.
This is not...
27
Aug
By John Bruton, former Irish Prime Minister (Taoiseach)
This letter is important because it sets out the thinking of the new UK Government. It should be taken seriously and analysed. It contains a number of internal contradictions which should be, politely but persistently, probed by EU negotiators. I hope to explore some of these in this note.
WHAT IS THE ESSENCE OF SOVEREIGNTY?
Some of the terms used in the letter need to be defined.
For example, Mr Johnson claims the Irish backstop is...
22
Aug
The world faces an invisible crisis of water quality that is eliminating one-third of potential economic growth in heavily polluted areas and threatening human and environmental well-being, according to a World Bank report released today.
Quality Unknown: The Invisible Water Crisis shows, with new data and methods, how a combination of bacteria, sewage, chemicals, and plastics can suck oxygen from water supplies and transform water into poison for people and ecosystems. To shed light on the issue, the World Bank assembled...
21
Aug
In light of a resurgence of "advance fee fraud schemes" misusing the World Bank Group’s name, the institution is warning against investment deals and advance fee schemes that fraudulently invoke the institution’s name or claim to be affiliated with the World Bank Group.
Like many large organizations, we have seen increased use of sophisticated forms and letterhead that appear to be legitimate World Bank Group email correspondence or certificates. The World Bank’s name can be falsely invoked to give the...
14
Aug
Important institutional and policy changes have taken place since the 2012 FSAP. At the national level, the authorities have strengthened the macroprudential framework by establishing the High Council for Financial Stability (HCSF), enhanced monitoring of financial stability risks, prepared to manage the Brexit fall-out, introduced macroprudential measures, and taken various financial reform measures included in Loi PACTE—Action Plan for Business Growth and Transformation—and initiatives on digital finance, crypto-assets, green finance, and combating cyber risk.
At the European level, significant...