Issue No. 584, 1-15 Jan 2015
World economy to pick up but faces risks – UN 

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Global economy to improve slightly, but risks abound
The UN has projected higher but still moderate growth for the world economy this year, cautioning, however, that this outlook is subject to several downside risks.
by Kanaga Raja

Falling oil prices threaten fragile African economies
The oil price drop has exposed the shaky foundations of African economies.
by Thalif Deen

Political capture by the financial industry
The potent influence the financial industry exerts over the policymaking process is a major factor behind the insignificant progress in regulating the sector since the global financial crisis erupted in 2007. Manolis Kalaitzake examines the main sources of the industry’s political power and possible ways to counter its disproportionate clout.

A déjà vu agenda or a development agenda?
Despite some progressive language, the current incarnation of the Sustainable Development Goals – meant to be a centrepiece of the post-2015 development agenda for the international community – suffers from many of the same flaws that plagued the Millennium Development Goals and may end up perpetuating North-South inequalities on the development front.
by Bhumika Muchhala and Mitu Sengupta

Towards a lasting solution to sovereign debt problems
Given the looming prospect of a sovereign debt crisis and the inadequacies of existing debt relief measures, a fair and efficient mechanism for sovereign debt workouts is urgently needed. This was the call made by 27 civil society groups in the following submission to the 3-5 February opening session of a UN ad hoc committee formed to elaborate a multilateral legal framework for restructuring sovereign debts.