For the first International Finance Facility for Immunisation debt issue to succeed, lead managers Goldman Sachs and Deutsche Bank had to devise a way of frontloading development finance at an affordable cost. Edward Russell-Walling reports on a scheme designed to ensure reliable funding for vaccine projects.

While rejecting numerous overtures from suitors, the London Stock Exchange has failed to go on the offensive and risks being left behind.

The UK bank’s US exposure should only be a short-term liability and shareholders will again benefit once the economy rebounds.

Fiscal stimulus is unlikely to aid economies in the next recession as it has done in the past, writes Andrew Smithers.

The North American Free Trade Agreement (Nafta) was intended, among other things, to improve Mexico’s economy (and thus reduce illegal immigration). In fact, it worked to the detriment of Mexico. Joe Stiglitz analyses what went wrong.

In this extract from his latest book, former World Bank chief economist Joe Stiglitz argues that a trade regime based on the principle of universal reciprocity regardless of circumstances does little to help developing countries.

Africa is a real banking market with real potential and there is nothing philanthropic about Barclays’ activities there, writes John Varley. He outlines particular areas that his banking group is committed to developing and region-specific issues that must be addressed.

Regional co-operation through the Asian Bond Fund initiatives will make intermediation between savings and investment increasingly effective in the region, says Joseph Yam.

The impact of events in 1979 continues to reverberate in the changing balance of power between the West and the East. Christopher Coker considers the consequences as China’s influence is felt through the world.

The current malaise of globalisation relates to a growing sense of internal paralysis in the major industrial countries and the sense that power politics have returned, says Harold James.