Exploring New Frontiers

Exploring New Frontiers

Exploring New Frontiers

Exploring New Frontiers

Excerpt

It is my great pleasure to introduce this Working Paper volume on “International Political Risk Management: Exploring New Frontiers.” The papers and commentary grow out of the 2000 MIGA-Georgetown University Symposium on International Political Risk Management held at the World Bank on April 11, 2000, to address important pending issues that come to light at the intersection where insurers, investors, and financiers meet.

It is particularly important to point out that the original session, upon which this volume is based, was a symposium and not a conference. As many readers will be aware, the word “symposium” is Greek in origin. It referred to a friendly gathering of people coming together to discuss a topic of mutual interest. Our goal is to report on a discussion and dialogue among some of the most important and respected people in the political risk management field.

With the global financial crisis largely behind us, foreign direct investment flows to developing countries have begun to pick up. In this environment, demand for political risk insurance has been increasing rapidly, and is likely to continue to grow further in the coming years. Faced with the possibility or the prospect of sudden, recurring financial crises, many investors and lenders will continue to actively seek political risk insurance for their long-term investments. According to an anonymous survey of 152 investors conducted recently by MIGA, approximately 50 percent expressed the view that political risk is more of a concern today than five years ago, while one-third of them indicated no change. Indeed, despite a . . .

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