Member Views

Good and Bad Debt

"I believe the time is ripe for a re-evaluation of borrowing strategies by Caribbean governments," writes DeLisle Worrell, BWC member and former governor of the Central Bank of Barbados, in Good and Bad Debt, this month's issue of his newsletter.

Maybank Singapore

BWC welcomes our new organizational member Maybank Singapore. Singapore is one of Maybank's largest overseas operations. It's staffed by over 2,000 employees. They offer retail, private wealth, and small and medium-sized enterprise banking services; and their Singapore branch operates the Global Banking business to cater to the banking needs of corporate and institutional clients.

Their engagement with the Committee will be led by Chandran Dharmarajan, Head of Brand and Communications. We appreciate their support for our mission, and we look forward to their engagement!

Lessons of the FTX Collapse

The collapse of FTX in many ways is an example of the problems associated with a weakly regulated financial enterprise, as much as it is a demonstration of the problems associated with crypto finance in its current state. 

As a financial enterprise, the bankruptcy of FTX shows the major failings that can arise in an organization with an exceptionally weak governance structure as regards internal financial controls, record-keeping and the oversight of an independent board of directors. There also appear to have been shortcomings in the scope and scrutiny of its outside auditors.

Element Capital

BWC's newest organizational member is Element Capital Management. Element is an alternative investment manager with a "modern macro" style of global macro investing. 

Keith B. Carter

BWC would like to welcome new member Keith B. Carter. Keith advises companies and governments on strategic use of data, fintech policy, talent development, and data-driven communications.

His passion is teaching design thinking, data-driven decision-making, robotic process automation, algorithmic trading, and, especially, actionable intelligence, which he characterizes as the right information, in the right person's hands, at the right time to improve outcomes.

The Downturn in the Dollar is Not Just About Rates

BWC advisory council member Rebecca Patterson argues in a piece for the Financial Times that "to understand the most recent dollar weakness — and more importantly, where it is likely to be headed next — events outside the US will matter as much or more than what happens within its borders."

Crypto Regulation: From Crisis to Opportunity

In 2022 the global financial markets were rattled by a series of adverse developments in the crypto segment, which culminated in the FTX meltdown and the multiple ripple effects the markets are likely to continue to grapple with in the course of this year. The implications of the crypto debacle, while clearly negative in the near term, also concern the longer-term trajectories of market development and regulation.

Geoffrey Okamoto

BWC would like to welcome new member Geoffrey Okamoto, former First Deputy Managing Director of the IMF, and former Acting Assistant Secretary for International Finance and Development for the United States Department of the Treasury.

Geoffrey is a managing director at Goldman Sachs, based in New York City. He leads the firm’s efforts on international public policy, coordinating cross-jurisdictional issues, and engaging with global policymakers. Geoffrey also assists clients on matters involving global economic and financial developments.

The IMF Should Enhance the Role of SDRs to Strengthen the International Monetary System

BWC member Edwin M. Truman on the role of the SDR in the international monetary system: "The SDR has proved itself as a crisis instrument." He proposes "regular annual SDR allocations, along with measures to make the SDR more attractive to critics."

The Next World Bank President Has a Huge Task on Their Hands

"From climate change to reconstruction, the institution has failed to tackle a range of urgent challenges," writes BWC board member Afsaneh Beschloss. Whoever succeeds Malpass will do much to decide whether this fabled institution ultimately perishes or survives, she argues.