Promoting stable global financial systems that reduce poverty and inequality by advocating technically sound approaches to be undertaken by global financial institutions,  and by advancing reforms of the governance and practices of these institutions.

 

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ABOUT NEW RULES

 

The New Rules for Global Finance Coalition is a networking, idea generating, nongovernmental organization that seeks to promote stable global financial systems which reduce poverty and inequality.  New Rules convenes activists and policymakers from developed and developing countries to identify and advocate politically feasible and technically sound solutions to systemic issues of  international finance and resource mobilization which impede inclusive development.

 

In the new globalized economy, culture and marketplace, equitable development remains at the center of the development debate.  In this changed world, foreign aid, while still important, is no longer as central to promoting development of developing countries as it once was.  Aid flows are dwarfed by private financial flows and by trade in goods and services. The world is now “connected” in ways that open new opportunities for civil society to impact on the formulation of complex policies heretofore the exclusive domain of financial specialists and institutions. New Rules works to ensure that international financial flows and the activities of the international financial institutions contribute significantly to the reduction of global poverty and inequality.

 

New Rules’ projects and networking activities address and promote international financial institutions’ accountability and governance reforms, poverty impact assessment measures, policy advances in finance for development, innovations in reforms of private sector finance, and capacity building in taxation of domestic resources for inclusive development.

 

New Rules currently leads the external assessment of how the governance and performance of the International Monetary Fund can be improved through the analysis and recommendations of former senior officials and international academics long concerned with how to increase accountability, transparency and developing-country participation at the highest levels of the Fund.

 

New Rules continues to work closely with United Nations staff of UNDESA, UNDP, and NGLS as a catalyst among academics and NGOs by organizing international multi-stakeholder consultations addressing needed solutions to global and national financial development issues emanating from the UN’s Monterrey Consensus, the 2008 Doha Conference and the recent UN Summits on the global economic crisis and its impacts on development.


New Rules’ project activities in 2009 focus on four areas of strengthening global financial systems in which it is well-positioned to advocate and prompt implementation of needed systemic reforms:  1) advocating governance reforms of the IMF and other financial institutions; 2) developing practical, cost-efficient tools of poverty impact assessment (PIA) of macro-economic policies;  3) coordinating attention to international financial issues of the UN’s FfD process;  and 4) advocating South-South exchange of successful practices and norm setting in taxation of domestic resources for inclusive development.  Advances in each of these areas would contribute significantly toward the reduction of global poverty and inequality.

 

  1. Governance reforms of the IMF and other IFIs

 

Bringing balance to the debate on IMF reforms, by facilitating voices of developing countries' needs and preferences for IMF policies and governance practices aimed at poverty reduction.

 

  1. Poverty impact assessment of macro-economic policies

 

Introducing practical tools of poverty impact assessments of macroeconomic policies to the IMF and other international financial institutions.

 

  1. NGO inputs to the UN’s Financing for Development Process

 

Leading NGO collaboration with the United Nations on setting the agenda on Finance for Development (FFD).

 

  1. South-South Sharing of Successful Tax Practices

 

Innovating South-South sharing of successful tax practices for greater mobilization of domestic resources for development.

 

 

New Rules for Global Finance operates 2 listservs:  one for dissemination of information globally; the second more targeted to Washington, DC with announcements of local events.  

 

Members of the New Rules for Global Finance Coalition

 

New Rules Board of Directors

 

 

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Last updated: 10/08/09.