The COVID-19 health and economic crisis has once again focused attention on the fickleness of capital flows and the need to have an adequate policy toolkit to manage the risks that stem from these flows, while maximising their benefits.
The current crisis is stretching developing countries’ financing capacities to their limits. Already suffering from rising debt levels and the risk of debt distress, and insufficient domestic and external financing resources, developing countries are now struggling to mitigate the interrelated health, humanitarian and economic effects of the pandemic.
Health systems are facing the most serious global pandemic crisis in a century, sparking discussions among policymakers on how to strengthen their resilience.
The Covid-19 pandemic has caused a global humanitarian, social and economic crisis. Poverty will rise for the first time since 1998, with hundreds of millions of jobs lost and livelihoods affected. Many of the jobs affected by the pandemic depend on investments and operations of multinational enterprises (MNEs) and their buyers and suppliers in global value chains. But foreign direct investment (FDI) is estimated to fall by at least 30% in 2020 – meaning that fewer jobs than expected have been and will be created.
With the COVID-19 pandemic provoking a global health and economic emergency, the OECD’s Dorothy Lovell looks at how OECD guidance on responsible business conduct can help governments and business address the impacts of COVID-19 in a way that mitigates harm to workers and supply chains in the garment sector.
OECD's Hannah Koep-Andrieu reports back from the DR Congo’s Copperbelt on due diligence efforts to improve conditions in cobalt and copper supply chains
Sara Court, Commissioner of the Australian Competition and Consumer Commission (ACCC), writes about efforts to protect consumers’ interests in digital markets without stifling innovation in advance of the 2020 OECD Competition Open Day.
News of investment by a foreign multinational is usually celebrated but corporate divestments – just as break-ups – are less frequently advertised.
Blog by Jeroen Michels, Samuel Brown and Balázs Gyimesi, Public Sector Integrity Division, Directorate for Public Governance, OECD Corruption can derail us from going places – both in transport infrastructure and socio-economic development. Infrastructure is key to facilitating trade, but also to better health care and education, water supply systems, and waste treatment facilities. The … Continue reading The integrity road: fighting corruption in infrastructure in Asia-Pacific
Since the Global Financial Crisis, challenges related to capital flow management and financial stability have evolved, leading policymakers to broaden the policy toolkit available to deal with those challenges. In this context, the time was ripe for a review of the OECD Code of Liberalisation of Capital Movements, the only multilateral agreement covering the full capital account. The updated Code was adopted by OECD Ministers in May 2019 and launched at the G20 Finance meeting in Fukuoka. It is not only more flexible, to better deal with current financial stability requirements, but it also makes an important contribution to the global debate on the international financial architecture.
