For these effects to work, withdrawals from funds should be made using institutions that represent the interests of diverse political constituencies, withdrawal procedures should provide for high levels of transparency—in particular by operating through a unified budgetary process, by using a balance of rules and discretion, by public reporting of payments, holdings and investments, by insulating the management of funds from political processes, and, in cases where domestic institutions are weak, by importing institutional strength from overseas. For many of these desiderata, we suggest, a market exists for the establishment of professionally run natural resource fund schemes by third parties.
Remarks by Martín Guzmán at 12th Edition of the Paris Forum: Key findings and conclusions of the Jubilee Report
Dear members of the Paris Club Secretariat, Thank you for the invitation to present some of the key findings and conclusions of the Jubilee Report, commissioned by Pope Francis and prepared by a Commission of
Martín Guzmán
Joseph Stiglitz
Ignacio González