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@DevEconNetwork
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A South-centred global network of economists advancing and promoting alternative, pluralist and progressive economic knowledge and practices.
New Delhi, India
Joined August 2017
“Ratings determine the cost of capital and direction of the flow of money & a down grade can make or break a country!” says Yuefen Li. Yet for over 100 years the big 3 CRAs operate like a cartel dominating the credit rating market (collectively owning about 96% market share).
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RT @South_Centre: In #FfD4 Seville, @DevEconNetwork & @South_Centre had a side event for a developing country view on Reforming Credit Rati….
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Per @Jayati1609 “having an African CRA is an important step, but we must demand for a global public CRA (under the aegis of the United Nations) as a substitute to private rating (with their fundamentally opaque models). This would address the complex conflict of interest problem”
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RT @DevEconNetwork: 🗣️ Today, we'll release our report on financing for development (, followed by presentations &….
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RT @DevEconNetwork: 🔴 Join us from tomorrow until 28 June at Pompeu Fabra University (Ciudadella) in Barcelona, Spain, as we present resear….
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RT @DevEconNetwork: 📌 On 26 June, ahead of #FfD4 conference, we'll release our report on financing for development at Pompeu Fabra Universi….
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RT @DevEconNetwork: It was a full house for the @DevEconNetwork @South_Centre discussion during #FFD4
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“If countries borrow in their own currencies the impact of dominant CRAs would diminish despite their opinions as they would loose policy influence over decisions on debt. Africa’s key challenge is dependence on markets & currencies based in metropoles where it lacks influence”.
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“Despite recent improvements in transparency & working methods, the monopoly by CRAs introduces global systemic risks-they are private entities with disproportionate systemic power & whose decisions (& errors) impact public life & the global economy. This harm should be avoided”
“Ratings determine the cost of capital and direction of the flow of money & a down grade can make or break a country!” says Yuefen Li. Yet for over 100 years the big 3 CRAs operate like a cartel dominating the credit rating market (collectively owning about 96% market share).
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📌 Join us for the #FFD4 side event: "Reform of the International Debt Architecture: A Developing Country Perspective of Credit Rating Agencies & Financing for Sustainable Development".ℹ️ 12:30pm today at Room 17. Don't miss out!.@South_Centre @cpc01 @Jayati1609 @Correa_CEIDIE
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At the side event organised by @DevEconNetwork and @South_Centre A downgrade can really make or break a country. #CRAs have been operating like a cartel for more than a hundred years. The big 3 hold about 99 percent on the sovereign rating market.
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Happening now in Sevilla #FFD4Sevilla
📌 Join us for the #FFD4 side event: "Reform of the International Debt Architecture: A Developing Country Perspective of Credit Rating Agencies & Financing for Sustainable Development".ℹ️ 12:30pm today at Room 17. Don't miss out!.@South_Centre @cpc01 @Jayati1609 @Correa_CEIDIE
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📌 Join us for the #FFD4 side event: "Reform of the International Debt Architecture: A Developing Country Perspective of Credit Rating Agencies & Financing for Sustainable Development".ℹ️ 12:30pm today at Room 17. Don't miss out!.@South_Centre @cpc01 @Jayati1609 @Correa_CEIDIE
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"Financing wars & genocide does not take centre stage in the agenda & the draft #FFD4 Sevilla Commitment continues to premise the proceedings of the FFD in a sanitised business-as-usual notion of multilateralism as the centre of development.".✍🏽@FarwaSial:
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📌#FFD4 Side Event: "Reform of the International Debt Architecture: A Developing Country Perspective of Credit Rating Agencies & Financing for Sustainable Development".🗣️ Speakers: Charles Abugre, @CPC01, @Jayati1609, @Correa_CEIDIE & Yuefen Li.📖 Read ⬇️
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✨Excited to be featured in the @FordFoundation x @ForeignPolicy issue brief: "Drowning in Debt: Strategies to Overcome the Debt-Development Crisis". Must-read for #FFD4: Info sourced from blog by @cpc01:
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RT @South_Centre: The @South_Centre is in Seville 🇪🇸 this week for #FfD4. The Centre has supported developing countries with research & pol….
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🗣️ #FFD4 Side Event with @South_Centre: "Reform of the International Debt Architecture: A Developing Country Perspective of Credit Rating Agencies & Financing for Sustainable Development".📅 Date: 2 July, 12:30.📌 Venue: Room 17, @FIBESevilla.📖 Read:
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Will #FFD4 address the inadequacy of the #MonterreyConcensus (2002) to provide a pathway to address new development challenges?.
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