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81. Venezuelan Migration and the Border Health Crisis in Colombia and Brazil

Author:
Shannon Doocy, Kathleen Page, Fernando de la Hoz, Paul Spiegel, and Chris Beyer
Publication Date:
08-2019
Content Type:
Journal Article
Journal:
Journal on Migration and Human Security
Institution:
Center for Migration Studies of New York
Abstract:
Venezuela’s economic crisis has triggered mass migration; more than 3.4 million Venezuelans have fled to other countries in the region and beyond. An assessment mission to Cúcuta, in the Colombian border state of North Santander, was undertaken from July 26 to August 1, 2018, and to Bôa Vista and Pacaraima, in the state of Roraima, Brazil, between August 24 and 28, 2018. Interviews were conducted with key informants, including health providers and organizations engaged in the humanitarian response. Secondary analysis of gray literature and data shared by key informants was also undertaken. Surveillance data demonstrate increases in infectious diseases, as well as adverse maternal and neonatal health outcomes, among Venezuelans in North Santander and Roraima. Summary of Findings for North Santander Reportable public health surveillance events among Venezuelans increased from 182 in 2015 to 865 in the first half of 2018. In 2018, the most common reported events included gender-based and intrafamiliar violence (17 percent), malaria (15 percent), and acute malnutrition in children <5 years (9 percent). There were 14 measles cases reported between January and June 2018 (compared to none in the previous years), the majority associated with migration from Venezuela. Thirty-six cases of maternal morbidity and two cases of maternal mortality among Venezuelans were observed in the first half of 2018 (compared to three cases of maternal morbidity and no maternal deaths in 2015). Low-birth-weight Venezuelan births rose from three in 2015 to 34 in 2017. Between January 2017 and June 2018, emergency medical attention was provided to 19,108 Venezuelans in government health facilities. Summary of Findings for Roraima In 2018, there were 355 cases of measles in Roraima (compared to none in previous years) — all cases had the genotype lineage originating in the 2017 Venezuelan measles outbreak. Children younger than one year old (812.1/100,000) had the highest measles incident rate in Roraima, followed by children 1–4 years old (245.7/100,000). Malaria cases among Venezuelans increased 3.5-fold from 2015 to 2018 (1,260 vs. 4,402 cases). As of August 2018, 171 HIV-infected Venezuelans were receiving HIV care at the Coronel Motta Clinic in Bôa Vista, Roraima. In 2018, 1,603 Venezuelan women gave birth at the Hospital Materno-Infantil in Bôa Vista, and by mid-2018, 10,040 Venezuelans had received outpatient care and 666 had been hospitalized at the Hospital General Roraima. In Colombia, primary healthcare is not available to Venezuelans, and provision of emergency care is perceived as unsustainable given current funding mechanisms. In Brazil, primary care is available to Venezuelans, but the healthcare system is under severe strain to meet the increased demand for care and is facing unprecedented shortages in medications and supplies. There is an urgent need to expand the humanitarian health response in Colombia and Brazil, both to ensure health among Venezuelans and to protect public health in border areas.
Topic:
Health, Migration, Financial Crisis, Border Control, and Humanitarian Crisis
Political Geography:
Brazil, South America, Central America, Venezuela, and North America

82. Evolve or Perish: The Global Forces Changing the Business of Banks

Author:
Robert Fay and Angelo Arcelli
Publication Date:
04-2019
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Following the 2008 financial crisis, the Group of Twenty embarked on an ambitious financial regulatory reform plan that has seen many banks worldwide make substantial progress in terms of both capitalization and governance. Over this period, banks have also become increasingly exposed to business risks from digitization, artificial intelligence and cybercrime, and major investments are necessary to manage these risks. New regulations have been introduced in the European Union to reduce these risks, but their associated costs have potentially created a lasting competitive disadvantage for European banks. This situation has raised some key questions that deserve to be discussed and investigated: How does regulation — including that outside the sector — affect banks’ ability to compete globally? What will be the impact of fintech players as well as globally active banks from China and other emerging markets? Can the Basel regulatory framework and Financial Stability Board (FSB) ensure a level playing field globally going forward, or has the regulatory pendulum swung too far? How will the supervisory approach need to be adapted to the changing structure of the global financial system? Moreover, how will the implementation of Basel reforms affect the industry? These and other questions remain about the effectiveness of the already-achieved reforms as well as their future direction. These issues were at the core of CIGI and Oliver Wyman’s fifth annual Financial Regulatory Outlook Conference, held in Rome on November 28, 2018. This conference report summarizes the key points of discussions at the conference, with a special focus on the 10 years of regulatory reform that was conducted under the auspices of the FSB and the new forces that are currently affecting banks and could have an impact on the future.
Topic:
Financial Crisis, Regulation, Europe Union, and Digital Culture
Political Geography:
Europe and Global Focus

83. International Coordination of Economic Policies in the Global Financial Crisis: Successes, Failures, and Consequences

Author:
Edwin M. Truman
Publication Date:
07-2019
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This paper evaluates international efforts to diagnose the global financial crisis and decide on appropriate responses, the treatments that were agreed and adopted, and the successes and failures as the crisis unfolded. International coordination of economic policies eventually contributed importantly to containing the crisis, but the authorities failed to agree on a diagnosis and the consequent need for joint action until the case was obvious. The policy actions that were adopted were powerful and effective, but they may have undermined prospects for coordinated responses to future crises.
Topic:
Government, International Cooperation, Financial Crisis, and Economy
Political Geography:
Global Focus

84. Iran Has a Slow Motion Banking Crisis

Author:
Adnan Mazarei
Publication Date:
06-2019
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Suffering under Western sanctions and security challenges, Iran faces problems as well from its fragile banking system, which has been languishing for decades. Liquidity and solvency weaknesses pose a growing risk to the country’s financial stability. The sanctions reimposed by the United States in 2018 have heightened these vulnerabilities, but the problems also result from the heavy-handed role of the state, corruption, and the Central Bank of Iran’s failure to regulate and supervise the system. Iran’s ability to avoid a run on its banks is aided by their reliance on liquidity assistance, deposit insurance, and regulatory forbearance from the central bank. Depositors are forced to be patient because they have limited options to invest elsewhere. Iran has thus avoided a full-blown banking crisis. But the situation is not sustainable. Banks remain susceptible to external shocks, which could come from a complete halt to oil exports or war.
Topic:
Security, Financial Crisis, Sanctions, Banks, and Financial Institutions
Political Geography:
Iran, Middle East, North America, and United States of America

85. The Cost of Holding Foreign Exchange Reserves

Author:
Eduardo Levy Yeyati and Eduardo Gómez
Publication Date:
05-2019
Content Type:
Working Paper
Institution:
The John F. Kennedy School of Government at Harvard University
Abstract:
Recent studies that have emphasized the costs of accumulating reserves for self-insurance purposes have overlooked two potentially important side-effects. First, the impact of the resulting lower spreads on the service costs of the stock of sovereign debt, which could substantially reduce the marginal cost of holding reserves. Second, when reserve accumulation reflects countercyclical LAW central bank interventions, the actual cost of reserves should be measured as the sum of valuation effects due to exchange rate changes and the local-to-foreign currency exchange rate differential (the inverse of a carry trade profit and loss total return flow), which yields a cost that is typically smaller than the one arising from traditional estimates based on the sovereign credit risk spreads. We document those effects empirically to illustrate that the cost of holding reserves may have been considerably smaller than usually assumed in both the academic literature and the policy debate.
Topic:
Financial Crisis, Exchange Rate Policy, International Reserves, and Capital Flows
Political Geography:
Global Focus and United States of America

86. The Diffusion Of Protest Following The 2007–2008 Global Crash

Author:
Cristina Flesher Fominaya
Publication Date:
09-2019
Content Type:
Research Paper
Institution:
Brown Journal of World Affairs
Abstract:
In the wake of the 2008 global financial crisis, hundreds of protests spread across the world. Remarkably, despite the diversity of polities, regimes, and socioeconomic status across countries, these protests share two core demands to a varying degree: greater, more meaningful, or “real” democracy; and greater economic justice. While these are two distinct demands, they cannot be sepa- rated from each other. Although initially (and understandably) the protests were interpreted in direct relation to the global economic crash, especially in those countries hit hardest by the crisis and austerity politics, it soon became clear that the protests also reflected a crisis of representative democracy.
Topic:
Economics, Financial Crisis, Protests, and Global Financial Crisis
Political Geography:
Global Focus

87. Hezbollah Prioritizes Its Own Interests, Putting Lebanon at Risk

Author:
Matthew Levitt
Publication Date:
10-2019
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
As demonstrators rail against economic problems, corruption, and sectarianism, the group’s role in undermining the public’s financial and physical security is coming under greater scrutiny. Lebanese citizens took to the streets this weekend to protest the country’s acute financial crisis, which has been marked by one of the highest debt ratios in the world, a new currency crisis, and fears that a strike will close gas stations indefinitely. Many believe that deep-rooted corruption and sectarianism got them into this mess, and may now complicate efforts to get them out. Against this backdrop, more criticism is being directed at Hezbollah, the widely designated terrorist organization that is simultaneously the most powerful party in Lebanon’s government and an aggressively sectarian movement that keeps its activities and weapons outside the government’s control. As the Treasury Department recently noted, developments over the past few weeks have underscored the extent to which the group’s actions “prioritize its interests, and those of its chief sponsor, Iran, over the welfare of Lebanese citizens and Lebanon’s economy.”
Topic:
Foreign Policy, Corruption, Financial Crisis, Protests, and Hezbollah
Political Geography:
Middle East and Lebanon

88. Refugees in Lebanon: Perspectives from on the Ground

Author:
Dima Zayat, Serene Dardari, and Mona Yacoubian
Publication Date:
10-2019
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
In recent months, refugees in Lebanon are facing a dismal climate of social polarization, opportunistic political rhetoric, and increasing hostility, with the demolition of some informal camp settlements, enhanced labor law restrictions, and widespread protests. Humanitarian programs must navigate tensions between host, Palestinian and Syrian refugee communities against the backdrop of Lebanon’s serious economic and environmental difficulties. The Middle East Institute (MEI) and Anera held a panel discussion of the many challenges facing Syrian and Palestinian refugees in Lebanon. Dima Zayat and Serene Dardari, two experts with years of experience in the humanitarian sector in Lebanon, were joined by discussant Mona Yacoubian to assess these challenges and explore potential avenues to address them. Randa Slim (MEI) moderated the discussion.
Topic:
Humanitarian Aid, Labor Issues, Financial Crisis, Refugees, Economy, Protests, and Xenophobia
Political Geography:
Middle East, Palestine, Lebanon, and Syria

89. Venezuela: First episode of the new Cold War?

Author:
Slobodan Pajovic
Publication Date:
07-2019
Content Type:
Working Paper
Institution:
Institute for Development and International Relations (IRMO)
Abstract:
Since the beginning of 2019, Venezuela has been in the focus of international politics because of its political and institutional crisis, together with its economic and social collapse generated in 2013, transformed into a regional and international crisis. The exit of some estimated three to four million emigrants mostly to neighboring countries of human rights and democratic values, the authoritarian regime of socialist orientation, the current American strategy of strengthening its political and strategic influence in Latin America, the presence of significant non- regional emerging global factors, as well as the cyclical changes of political parties in power in this part of the world. Accordingly, this crisis tests the hemispheric and global leadership of has additionally deepened the contexts of theUS, the influences of emerging global powers the regional crisis including also the security aspect. In short, the crisis can be described as oscillating between the issues of defense like China, Russia, India or Turkey, recently, and the potential of Latin American regionalism and political consensus.
Topic:
Imperialism, Migration, Regional Cooperation, and Financial Crisis
Political Geography:
United States, Latin America, Venezuela, and North America

90. Global Forums: Are They Must or Waste for the Global Governance?

Author:
Gülen Derya Zayim
Publication Date:
02-2019
Content Type:
Policy Brief
Institution:
Global Political Trends Center (GPoT)
Abstract:
The age of globalization has brought about interdependency between the nation-states in all aspects of life while uncovering challenges for the sovereignty of the nations. Therefore, how an integrated world system involving multiple actors can efficiently be governed remain a subject of serious discussions. This study briefly explains the historical background of G7/8 along with its evolution to G20 and discusses their effectiveness and legitimacy in the context of global governance. It is worthy to discuss the issue since these global forums’ legitimacy and effectiveness subject to both critics and praises. Although the lessons from the global financial crisis consolidates the idea of global coherence, integrity and compliance, diverging political and economic conflict of interest of nations still make the international forums’ existence and future position in global governance open to discussions. Additionally, the last part of the study draws conclusion about Turkey and its place in global governance.
Topic:
Sovereignty, Financial Crisis, Governance, and G20
Political Geography:
Turkey, Middle East, Global Focus, and Mediterranean