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Political Risk

Lebanon: Open for Business

James Bond's picture

Lebanon is a country of expatriates.  Nine million of its 11 million inhabitants live abroad, in places as diverse as Terra del Fuego, Côte d’Ivoire, and Columbus, Ohio. The Lebanese Diaspora remains profoundly committed to its mother country, remitting money to family back home, investing, and visiting as tourists. 

 

Powering up Africa

Rebecca Post's picture

Breaking news! The OrPower4 Project has been awarded:
African Renewables Deal of the Year 2009 from Project Finance Magazine.

After a long journey to Nairobi, in the midst of a much-needed shower, the room went black. Fortunately the lights came on a few seconds later. My good fortune was only due to the fact that the hotel’s generator kicked in – with its attendant high cost and environmental and safety hazards. 

I’m no stranger to the power outages that present themselves nearly every evening in this part of the world, but it’s one thing to experience a minor inconvenience, quite another for the business that is losing money due to power outages, the student who is losing out on opportunities because she can’t study at night, or the doctor trying to treat a victim of a late-night road accident. And these are the lucky ones. Only 15 percent of all Kenyans have any access to electricity.

Investor Interest in Sierra Leone Grows

Michael Durr's picture

I'm in a unique position in MIGA, responsible for fielding initial investor inquiries about MIGA’s political risk guarantees. Over the last few years I have noticed a jump among investors considering MIGA cover in several countries. One of those countries is Sierra Leone. 

Return of the Master

Michael Strauss's picture

One joy of working within the World Bank Group is the access to great lectures from brilliant and creative thinkers on issues of relevance to the global economy and international development.  Today, I had the opportunity to listen to Robert Skidelsky, acclaimed author of a three-volume biography of John Maynard Keynes, and, most recently, of Keynes: Return of the Master.  He provided an interesting picture of how Keynes – one of the primary forces behind the creation of the Wor

Putting the E in Parliaments

Paul Mitchell's picture

I recently spoke at the World e-Parliament 2009 Conference held in Washington at the US House of Representatives. The conference attracted representatives from all Parliaments and was attended by more than 300 Members of Parliament, Clerks or Secretary -Generals of Parliaments, their deputies and other people working on e-Parliaments. With a global centre in Rome partially funded by the UN Department of Social and Economic Affairs, the group tries to coordinate and develop ICT systems for Parliaments. They strongly believe that ICT can be a tool for greater transparency and accountability of Parliaments and a larger platform for public consultation and interaction with citizens. They are looking at ways to harness new technologies for this purpose. 

The Uncontained Outbreak of Deal Anxiety

Sina Odugbemi's picture

An instructor in Law School was the first to explain to me the nature of  'deal anxiety' as a problem for business; now I know that  it is a problem for governance reform as well. For a lawyer 'deal anxiety' manifests when a client - usually a business executive - is so anxious to close a business deal she ignores the need for her attorney to exercise due diligence over the contract. For instance, what happens if there is a dispute? What dispute resolution mechanisms might be needed? What about conflict of laws if it is an international contract? Are we going to use the laws of the domicile of Party A or Party B? And so on. You'd be amazed how many business leaders just want to shake hands on the deal, and get on with 'the real business of making money', until something goes wrong and both sides reach for their lawyers ...as cowboys reach for  guns. Then you have a shoot out.

In international development, 'deal anxiety' manifests as the pell-mell rush to get a (reform?)  project going. Whether in grant making donor agencies or in multilateral lending institutions there is a tendency to rush to close the deal, get the partner government to sign the relevant documents, get the internal approving authorities to say Yes. The attitude is: Let's keep this moving folks!


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