Shaking up Development Finance in Latin America C. P. Chandrasekhar and Jayati Ghosh.

The signing of the agreement by seven South American countries to form the Banco del Sur (Bank of the South) may herald a new era in development finance. The creation of the Banco del Sur is part of a broader trend within Latin America of governments increasingly distancing themselves from the IFIs that are widely perceived as too biased in favour of US interests. Even if this plan succeeds partially, it will be an important source of hope for the rest of the developing world. Development_Finance_Latin_America (Download the full text in PDF format)

South Bank: A People’s Perspective of Integration

This article on the new initiative from South America, the Bank of the South, articulates the position of ‘Jubilee South’ on this issue. It describes the nature of the South Bank, its goals, functioning and finally, its importance in the context of providing an alternative platform for south based economic development that is democratic, participatory, and economically, socially, and environmentally just. South_Bank (Download the full text in PDF format)

Shaking up Development Finance in Latin America C.P. Chandrasekhar and Jayati Ghosh

The signing of the agreement by seven South American countries to form the Banco del Sur (Bank of the South) may herald a new era in development finance. The creation of the Banco del Sur is part of a broader trend within Latin America of governments increasingly distancing themselves from the IFIs that are widely perceived as too biased in favour of US interests. Even if this plan succeeds partially, it will be an important source of hope for the rest of the developing world. Shaking_Development (Download the full text in PDF format)

New Developments in South-South Cooperation: China ODA, Alternative Regionalisms, Banco del Sur Isabel Ortiz

South-South cooperation is becoming increasingly important given criticisms on the current process of globalization. Since the 19th century, non-hegemonic countries and regions forged alliances as a strategy to reduce dependency and dominance from Northern powers. At the beginning of the 21st century, Southern countries remain associating to promote South-South cooperation. This article focuses on new developments in bilateral South-South ODA and regional integration, including South-South banks. South-South Bilateral ODA and Investments: Emergence of China South-South aid and investment tend to occur on bilateral basis. Main non-OECD donors are Brazil, China, India, Kuwait, Mexico, the Russian Federation, Saudi Arabia, South Africa,…