Three Key Issues Before the 13th Ministerial Conference of the WTO

By Biswajit Dhar | Briefing Paper # 64 | February 19, 2024

Later this month, Trade Ministers of the World Trade Organization (WTO) would meet for their 13th Ministerial Conference (MC13) in Abu Dhabi at a time when the multilateral trading system is losing its existential battle. This “ruled-based organisation” mandated to ensure orderly conduct of global trade through a set of rules that were mostly negotiated before 1990 when the organisation had less than 100 members. Over the past four and a half decades, the needs and aspirations of members in the realm of trade have changed beyond recognition as…

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India’s Experience with Investment Treaty Disputes and Related Damages

By Tathagata Choudhury | Briefing Paper # 63 | August 17, 2023

 India is an attractive destination for foreign investment (among the top 10 investment-importing countries) and is increasingly growing as an outward investor (among the top 20 investment-exporting countries). and has been relatively active in signing bilateral investment treaties (BIT).

Like most older generation BITs, these treaties were negotiated to promote foreign investment and, in line with the existing BIT models,…

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What Ails the G20 Common Framework for Debt Treatments Beyond the DSSI?

By Biswajit Dhar | Briefing Paper # 62 | July 7, 2023

One of the more significant tasks before the G20 countries is to find a lasting solution to the problem of external debt in developing countries, in particular low-income countries, whose vulnerabilities have exacerbated since the onset of the COVID-induced downturn. At the urgings of the World Bank and the International Monetary Fund (IMF), the Finance Ministers and Central Bank Governors of the grouping took their first initiative to address the problem of debt vulnerabilities in low-income countries during their meeting in April 2020. They lent their support to the…

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G20 Must Push for the IMF Quota and Governance Reforms

By Kavaljit Singh | Briefing Paper # 61 | June 2, 2023

The G20 must address the unfinished agenda of advancing fundamental reforms of the International Monetary Fund’s resources, governance, and policy frameworks. These reforms are becoming increasingly urgent, as the global economy faces multiple challenges, from a global economic slowdown to growing debt burdens and climate change. At several international forums, including the G20, India has consistently pushed for the IMF’s quota and governance reforms. Therefore, India could make a significant contribution in this policy area under its G20 presidency.

Why should the G20 take the lead on instituting IMF reforms? Because…

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The 2023 U.S. Regional Banking Crisis is Far from Over

By Kavaljit Singh | Briefing Paper # 60 | May 9, 2023

On May 1, 2023, U.S. regulators seized troubled First Republic Bank (FRB) and promptly sold all of its deposits and most of its assets to the country’s biggest bank, JPMorgan Chase, in a bid to stem further turmoil in the banking sector. Despite obtaining a $30 billion lifeline from 11 of the country’s largest banks in mid-March, the FRB failed.

Founded in 1985 and based in San Francisco, the FRB was the 14th largest U.S. bank with total assets of $229 billion and total deposits of $104 billion as of…

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