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In our recent publication, Asymmetric Sovereign Risk: Implications for Climate Change Preparation , we explore how perceptions of climate risk influence sovereign spreads across countries with varying economic conditions. To learn more how the IDB works with governments to strengthen their fiscal balances visit our Fiscal Management page.
The COVID-19 pandemic had a very large impact on government finances. Three important variables worth highlighting are borrowing costs, primary balances, and exchange rates. Supply-driven inflation shocks tend to be associated with a tightening of financing conditions. This is in tern reflected in increases in borrowing costs.
Fiscal rules have become a common policy tool to promote the sustainability of public finances, as the number of countries with at least one fiscal rule has grown from ten in 1991 to more than 100 by 2021. In contrast, simply adopting fiscal rules but not complying with them does not translate into better outcomes.
However, the focus on delivering a conventional energy business in a value-focused way has led to more disputes due to finely balanced economics and resource shortages. Finally, the use of legal finance as an insurance policy to protect against adverse cost exposure is becoming more normalised.
Over the past two decades, a growing number of Latin American and Caribbean (LAC) countries began adopting fiscal rules to limit overspending influenced by election cycles, public pressure, and other political economy factors, helping the region strengthen its fiscal solvency and sustainability.
After the launch, the systems were transferred to the balance of the state in the form of a state-owned enterprise. It includes indicators such as the population of the community affected, level of urgency, economic influence, or ecological impact. Delivering the DREAM With the launch of the Project Office, DREAM enters its next phase.
The second panel, “ TechTalk: Unraveling the Tapestry – AI’s Influence on International Arbitration”, included Luke Sobota ( Founding Partner, Three Crowns LLP), Nilufar Hossain (Investment Manager and Legal Counsel, Omni Bridgeway), Rachel Thorn (Partner, Cooley LLP), and Marco de Sousa (Senior Associate, Herbert Smith Freehills LLP).
Senior tax policymakers from across the region attended the event organized by the IDB, the World Bank and the G-20 Brazilian presidency, represented during the event by Ministry of Finance and Receita Federal do Brasil (RFB), the country’s federal tax agency. Second, government may face domestic political opposition against heavier taxation.
The panel however agreed that a good balance is to be found, first because not everything should be recorded, but also because a too strict or inefficient record management can lead to a considerable loss of time and productivity. Lawyers need to be on top on that.
The administration of the tax would require a single tax return (consolidated balance sheet of the mega MNE) to be filed with the tax authorities of the country where the ultimate parent company is domiciled, and the information would be shared with the other countries. billion a year.
and Gabriella Palmieri (Italian Attorney General) highlighted the complex interaction between international, transnational and national law, and they agreed on the need to find a balance between environmental protection and economic competitiveness.
Department of State), Margie-Lys Jaime (Legal Adviser, Office of Investment Arbitration, Ministry of Economy and Finance, Republic of Panama), Ladan Mehranvar (Senior Legal Researcher, Columbia Center on Sustainable Investment (“CCSI”)) and Marie-Claire Argac (Partner, Curtis, Mallet-Prevost, Colt & Mosle LLP). Canada and E.U.
The State aid Decision also explicitly stated that ‘The construction works financed through the grant … will be subject to a competitive process, respecting the applicable procurement rules’ (para 8). The agreement foresaw that, at the end of the project, ‘Any excess on that balance sheet is to be paid to the municipality.
The American public may know AI as an amorphous “something” that—while created by people and empowered to perform such person-like tasks as generating play lists, writing fan fiction, and making life-changing decisions about employment, finances, and access to health care—is not human.
It was held that unilateral arbitrator appointments undermine this principle, tilting the balance in favour of the appointing party. In case of sole arbitrators, the appointing partys influence raises legitimate concerns of bias. This would be consistent with the principles of party autonomy and minimal judicial intervention.
Each contracting state of the ICSID Convention may designate up to four individuals deemed to be of high moral character and recognized competence in the fields of law, commerce, industry or finance (Article 14 of the ICSID Convention ). The stipulated criteria are much broader than the ones suggested for the MIC.
236 ), along with its budget and financing considerations. UNCITRAL Working Group III and the Advisory Centre on International Investment Dispute Resolution , analyzed key outstanding elements of the draft statute, including the Advisory Centres objective and scope of activities, governance structure, financing mechanisms, and legal status.
The importance and positive contribution of public procurement law to the adequate management of public funds may seem difficult to appreciate in ordinary times, and there are recurrent calls for a reduction of the administrative burden and bureaucracy related to procurement procedures, checks and balances.
Another key update in this regard is the substantive revision of investment protection provisions, which now better balance investor rights with the right of Contracting Parties to regulate within their territories. However, future technological and policy developments in the energy sector may influence the landscape of investment disputes.
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