19/09/23

From Comment

Can South-South Cooperation Combat Coercive Financial Rule-making?

Countries of the global South, including small island international financial centres (IFCs), are predominantly rule-takers in the global financial system. In a bid to stave off reputational harm and protect their fragile economies, they are obliged to adopt and adapt to a growing spaghetti bowl of externally dictated financial rules made at tables where they lack a meaningful seat, and which largely do not serve or reflect their development interests.

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