Wednesday 30 Sep 2020 | 09:56 | SYDNEY
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Mike Callaghan's picture
People | experts Mike Callaghan
Nonresident Fellow
Lowy Institute
Mike Callaghan's picture
Areas of ExpertiseG20, international economic governance, international economic policy

Protectionist spectre looms over IMF-World Bank meetings

Australian Treasurer Scott Morrison will attend the IMF-World Bank annual meetings that kick off today (Friday 7 October) in Washington. Should we expect 'big' outcomes from these meetings? On past form, no. The best we can hope is that finance ministers come away a little wiser and a little more

G20: Time to end the circus

The dust has settled on another G20 summit, the latest held in Hangzhou, China. The small group of think tanks who follow the G20 are disappointed with the outcomes. What’s new? The G20 has been a disappointment for a number of years. Perhaps it’s time to reflect on what works and what

Report shows IMF in need of reform

The IMF’s Independent Evaluation Office (IEO) recently released its assessment of the IMF’s handling of the euro crisis. It was a damming report. The IMF has been heavily criticised for its response to the euro crisis, particularly its involvement in Greece. As Stephen Grenville has

What we can learn from Brexit

There is much being written about the implications of Brexit. This stream of commentary will undoubtedly continue for some time; Matthew Goodwin said the repercussions from Brexit will be felt 'for generations'. While the focus is mostly on the negative implications, some think there may

Panama Papers: Do we need a global tax organisation?

Do the Panama Papers demonstrate the need for a global tax body? A number of tax advocates think so. Activists in Berlin demand legislative change in the wake of Panama Papers (Photo: Sean Gallup/Getty Images) The idea of a global tax organisation has periodically received a run by academics and

2016 will be a rocky year for the yuan

It wasn't so long ago that China was being accused of holding its currency down to boost exports. So it's ironic that the issue likely to dominate the G20 Finance Ministers Meeting in Shanghai on 26-27 February is how to deal with the ongoing depreciation of the Chinese exchange rate. On 9 November

Beijing should hasten slowly on AIIB

The establishment of the Asian Infrastructure Investment Bank (AIIB) reached another milestone on Monday when 50 of the 57 founding members signed the AIIB's Articles of Agreement. Seven countries are still sorting out domestic requirements before signing. China's Finance Minister Jiwei Lou and

Australia needs a modern and globalised tax system

The Abbott Government will shortly release a discussion paper on the Australian tax system. It will be the first step towards the much anticipated tax white paper. International factors should figure prominently in the white paper — specifically, how to ensure that Australia has a resilient tax

Negative interest rates: We are flying blind

We live in strange economic times. Depositors in Denmark are paying interest to their banks and borrowers are being paid when they take out a loan. The basic principles of finance have been turned on their head. One commentator has noted that 'something economists thought was impossible is

Greece has compromised, so too must Europe

The recently approved extension of the EU/ECB/IMF bailout program kicks the Greece debt problem four months down the road. Where to from there? Unless there is a major change in approach by both Greece and the EU, it will not be long before we are again fretting over Greece exiting the euro and the

No, the IMF did not cause the Ebola crisis

Headlines blaming the IMF for the Ebola crisis are something you may expect in the tabloid press. However, a robust debate on the role of the IMF in the spread of Ebola was started by an article in The Lancet, a leading health journal. Four British professors claimed that the fiscal austerity

G20 Monitor: The G20’s growth agenda

This issue of the G20 Monitor provides a guide to the policies that G20 members will have to tackle to achieve the G20’s 2 per cent growth target, drawing on the recommendations of the IMF, OECD and a number of international think tanks

Can the G20 meet its growth target?

The mood in Washington during last weekend's IMF-World Bank annual meetings was gloomy. As the Brazilian Finance Minister put it, the global economic recovery continued to create a sense of disillusionment. The IMF lowered its forecast for global growth for the third time this year, a pattern it