Syndicate content

Nuevos desafíos, nuevas alianzas

Jose Carlos Villena Perez's picture

Los Organismos Multilaterales y los países del Sur de Europa deben cooperar más intensamente para restablecer la competitividad global de sus economías.

Una de las lecciones aprendidas en los últimos años es que los procesos de desarrollo económico son reversibles. Las otrora economías estrellas del Sur de Europa languidecen hoy en día envueltas en un lento y doloroso proceso de reajuste encaminado a la restructuración de sus sectores productivos y a su defintiva entrada en el SXXI, en lo que a términos económicos se refiere.

Cada vez es más evidente que la recuperación de estos países no se logrará simplemente con la reforma de sus estructuras administrativas y normativas debido a la complejidad de los problemas que afrontan. Tal vez, uno de los más complejos sea la interrupción del flujo del crédito a la economía real, el cuál está afectando gravemente los países del sur de Europa. Esta escasez está dañando seriamente la competitividad de los mismos a nivel internacional y comprometiendo cualquier posible atisbo de mejoría, poniendo, en definitiva, en riesgo la recuperación de la economía mundial.

New challenges, new alliances

Jose Carlos Villena Perez's picture

Multilateral organizations and Southern Europe can do more to cooperate to restore these countries’ global competitiveness

One of the lessons learned from the past few years is that economic development processes are reversible. The once-bright southern Europe economies are languishing today, wrapped in a slow and painful process of adjustment aimed at restructuring their productive sectors and enter once and for all into the 21st century economy.

It’s clear that these countries’ recovery will not be achieved simply with reforming their administrative and regulatory frameworks. Perhaps one of the most complex issues that Italy, Portugal, and Spain are currently dealing with is the interruption of credit flows to the real economy. This interruption is doing considerable harm to the countries of southern Europe; the credit shortage is affecting their competitiveness and jeopardizing any possible hint of improvement, putting the overall global economic recovery at risk.

Partnership in Political Risk: Singapore Goes Global!

Paul Barbour's picture

On February 22, MIGA partnered with the Singapore Management University (SMU) and International Enterprise Singapore (IE Singapore), to launch the most recent World Investment and Political Risk Report in Asia. The event, at SMU’s downtown campus, focused on the key issues of sovereign and political risk and how foreign investors can mitigate them.

The latest World Investment and Political Risk report is the fourth in a series that we’ve recently launched in London and Washington, DC as well. There are some important nuggets on FDI trends and perceptions this year. The report notes that foreign investors, attracted by stronger economic growth in developing countries while mindful of risks, still remain optimistic about these destinations.

Davos 2013: A Thief Stealing Bells Is Not an Optimist

Kevin Lu's picture

For the past five years, the participants to the Annual Meetings of the World Economic Forum (WEF) have gathered in Davos to discuss urgent global crises the world was facing: subprime lending, the credit crunch, banking, Greece, the euro zone’s woes, and so on. Soul-searching about the political and economic status quo ensued. This year, with leadership transitions in the two largest economies completed, the euro zone no longer facing imminent break-up, and China growing at 7.8%, Davos resumed some normalcy. Some even claimed optimism.

Some of the optimism is based on the growth prospects in Asia and China. For the past five years, while Europe has not grown at all, Chinese GDP has grown 60%. In this year’s Davos, there were no fewer than five public sessions on China, with topics ranging from its rapid growth, transformation of its growth model, and emergence of its soft power. Interests in Asia are high.

The Palestinian Private Sector: Resilience in the Face of Harsh Conditions

Layali H. Abdeen's picture

I recall the first time I visited Nakheel Palestine for Agricultural Investments Company fields at Jericho two years ago, when MIGA was still at the early stages of underwriting the project constituting planting date trees. packing dates for Nakheel Palestine for Agriculture Development The land was empty and, at the first glance, the first thought that came to mind was “how can this be developed into arable land?” When MIGA’s Executive Vice President Izumi Kobayashi visited the site for the first time a couple of weeks ago, we found ourselves in fields filled with baby date trees that have beautified the land with their green leaves. And in a tour in the packing facility of the project, we saw how young female workers were sorting and packing the dates, realizing that each of these workers is supporting a household of minimum five members in a very impoverished area.

Investing in Infrastructure in Africa: Conundrum and Opportunity

Esohe Denise Odaro's picture

Last week, the U.N. Conference on Trade and Development (UNCTAD) released its semi-annual report on FDI flows, which reflected generally dismal results: global FDI declined by 8 percent, with a 5 percent decrease for the developing world in particular. Investing in Infrastructure in AfricaI found it interesting that South Africa’s significant decline in FDI seemed to catch a good deal of media interest. Yes, the continent’s darling and the usually one of the highest recipients of FDI saw a drastic drop (by 43%); admittedly this deserves more than a glance. But I wonder why Finland and Ireland’s numbers, at 96.2 and 42.8 percent respectively, didn’t make much news. South Asia’s inflows also fell by 40 percent as a result of declines across nearly all countries in the subcontinent. In India, inward FDI fell from US$18 billion to US$10 billion. Why South Africa? In my opinion, the flow of investment to sub-Saharan Africa is often reported as a sign that the doors of the last frontiers are being approached.

MIGA in Libya: Boldly Going Where No Political Risk Insurer Has Gone Before

Hoda Atia Moustafa's picture

The New Libyan FlagLast month, MIGA signed its very first contract of guarantee for a project in Libya. The guarantee covers an investment by Jafara Company to expand a beverage and harissa plant outside of Tripoli. (Harissa, if you have never had it, is sometimes known as the "ketchup of North Africa" — a hot chili sauce used to spice up North African foods.) The €7 million contract, underwritten through MIGA's Small Investment Program, provides cover against losses due to expropriation, war and civil disturbance, and transfer restriction. The project came to MIGA through a private equity fund out of Tunisia, AfricInvest, which is indirectly investing in Jafara through a partial acquisition from its previous owner, the MIMS Group of Bosnia-Herzegovina. 

Bujagali is Commissioned! Uganda Nearly Doubles Electric Capacity in One Fell Swoop

Marcus Williams's picture

This past Monday I was present as the 250 megawatt Bujagali hydropower plant on Uganda’s River Nile – supported by MIGA, Photo by Marcus Williams, MIGAas well as our sister institutions the World Bank and IFC – was commissioned into active service.

After many years of preparation and planning, this was an auspicious moment indeed for Uganda, with the plant’s opening coinciding with the Jubilee celebrations marking the country’s 50 years of national independence. The new Bujagali power plant comes close to doubling the country’s electricity capacity and in a single step has elevated Uganda to having the second largest kilowatt consumption per capita in East Africa, following  Kenya.

Are MIGA Guarantees Governance Products?

Olivier Lambert's picture

I’ve considered whether MIGA guarantees are, in effect, governance products. Readers might rightly ask how I’ve come to this conclusion. Consider what a governance product is:  something that supports good governance (and by this we mean, first and foremost, eliminating corruption and its incentives). Thus, could not a MIGA guarantee be recognized as a governance product from two perspectives—that of the company that is our guarantee holder and that of the country host to a  MIGA-insured investment? 

Does Richard Gere Have the Right Political Risk Mitigation Strategy?

Michel Wormser's picture

In the new film “Arbitrage” the character played by Richard Gere thought he had made a highly profitable mining investment in an Eastern European country with a “friendly” government. But suddenly things are not working the way they were supposed to. He cannot access the returns from his investment —the government will not let him take them out of the country.

Pages