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emerging and frontier markets:

the unofficial field guide

Site Owner / Publisher:  Sta. Romana, Leonardo L.
 Based in:  Manila, Philippines; and Southeast Asia

Posted on Sun, 28 Feb 2021:

Yellen backs new allocation of IMF's SDR currency to help poor nations, Reuters, 25 Feb 21:
US Treas Secy Yellen on Thu (25 Feb) threw her support behind a new allocation of the IMF's own currency, or Special Drawing Rights. Reversing the opposition of the Trump admin, she told G20 finance officials that this could boost liquidity for poor countries hard hit by the global pandemic

Jason Furman: Dear Council of Economic Advisers chair, Democracy, A Journal of Ideas, 09 Feb 21:
You may not have any statutory powers or responsibilities, but you do have one power: the opportunity to persuade. You just might be able to shape some of the most important decisions the Pres will make. It depends on how you use it. These five tips might help, writes Pres Obama's CEA chair

Iceland's 'covid-19 passport' offers preview of debate over post-vaccine travel, Radio Canada Intl, 10 Feb 21:
Iceland recently became the 1st country in Europe to issue and recognize vaccination certificates, which it hopes will allow those vaccinated to travel freely within its borders and abroad. EU leaders have as yet been unable to come to a common position on the certificates

Posted on Wed, 17 Feb 2021:

UN chief urges global vaccination plan for covid-19, AFP, 17 Feb 21 [via France 24]:
Opening a special Security Council session on vaccines held at the level of foreign ministers on Wed (17 Feb), UN Secretary General Guterres warned that just 10 nations have administered 75 percent of the doses so far -- and 130 countries have had no vaccinations at all

Stern and Stiglitz: Getting the social cost of carbon right, Project Syndicate, 15 Feb 21 [via AzVision/Azerbaijan]:
US Pres Biden's admin must put a high enough price on carbon pollution to encourage the scale and urgency of action needed. The future of the planet depends on it, write London School Econ and Columbia Univ economists, who co-chaired the international High-Level Commission on Carbon Prices

'I'm a fighter' -- first female, African head of WTO ready for battle, Guardian/ UK, 15 Feb 21:
Ngozi Okonjo-Iweala is the World Trade Org's new head, a position that has never before been occupied by an African person nor by a woman. She will take over the institution at a critical time. The global trading system -- with the WTO at its heart -- is facing a make-or-break moment, say experts

Singapore says Myanmar situation 'alarming', but no need for broad sanctions, Reuters, 16 Feb 21:
Singapore's foreign minister spoke out on Tue (16 Feb) about "alarming developments" but said he did not support widespread sanctions in response to the coup as these could hurt ordinary citizens. Singapore has been the largest source of foreign investment into Myanmar
in recent years

Posted on Fri, 05 Feb 2021:

WHO-led Covax allocates first tranche of 330 million vaccine doses to poor countries, Reuters, 03 Feb 21:
The Covax vaccine-sharing facility has allocated at least 330 million doses of covid-19 vaccines for poorer countries and will aim to deliver these and many millions more in the first half of 2021, agencies leading the scheme said on Wed (03 Feb)

Dasgupta Review: Nature's value must be at the heart of economics, Univ Cambridge News, 02 Feb 21:
Nature is a "blind spot" in economics. We can no longer afford for it to be absent from accounting systems that dictate national finances, or ignored by econ decision makers. This is according to an independent review on the economics of biodiversity, produced by Prof Sir Partha Dasgupta

Japan's Kirin to terminate Myanmar beer alliance following coup. Japan Times, 05 Feb 21:
Japanese drinks giant Kirin on Fri (05 Feb) scrapped its troubled beer tie-up with an opaque conglomerate linked to the military. The abrupt end serves as a cautionary tale for other Japanese firms, from Aeon Co. to auto-parts maker Denso Corp., whose ventures have been thrown into disarray after the coup

Posted on Thu, 21 Jan 2021:

Yellen's call to 'act big' reflects long re-think on big government debt, Reuters, 21 Jan 21:
At US Treas Secy-designate Yellen's confirmation hearing Tue (19 Jan), her comments defending Biden's $1.9 trillion coronavirus spending plan reflected a steady shift in economists' thinking about the mountains of govt debt across the developed world that has been underway for a decade

US, staying in WHO, to join covid vaccine push for poor nations -- Fauci, Reuters, 21 Jan 21:
The US under Pres Biden intends to join the Covax vaccine facility that aims to deliver coronavirus vaccines to poor countries, his chief medical adviser Fauci told the World Health Org on Thu (21 Jan). The 1st batches of vaccines are expected to go to poorer countries in Feb

Posted on Sat, 09 Jan 2021:

Joseph Stiglitz: A global recovery's leading variables, Project Syndicate, 31 Dec 20 [via Livemint/India]:
Beyond the covid-19 infections, there will be two paramount questions in 2021. Will the EU and US enact recovery programs of the magnitude needed to restore the global economy? And will the intl community provide the developing world with the assistance it needs?, asks 2001 Nobel Laureate

Ngaire Woods: The brutal governance lessons of 2020, Project Syndicate, 29 Dec 20 [via Oxford Univ]:
Many wealthy countries did not manage the pandemic crisis as well as anticipated, whereas many poorer, populous, and vulnerable countries exceeded expectations, writes Oxford Univ's Blavatnik School of Government

WTO wrangle on covid vaccines intellectual property idea, AFP, 10 Dec 20 [via France24]:
The World Trade Org was debating a proposal to exempt covid-19 vaccines from intellectual property rights -- an idea staunchly opposed by pharmaceutical giants. The debate is being held at the request of India and S.Africa, which want to boost the global production of vaccine doses

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