Miga and Foreign Investment: Origins, Operations, Policies and Basic Documents of the Multilateral Investment Guarantee Agency

Front Cover
Ibrahim F. I. Shihata
Martinus Nijhoff Publishers, 1988 - 540 pages
The unique experience of the author in supervising the World Bank's efforts to create the Multilateral Investment Guarantee Agency is detailed in "Part I" of this book, which provides a case study for the successful preparation of a complex multilateral convention in record time. The book also provides an in-depth analysis of the operational and institutional aspects of MIGA relating them to the broader legal and economic issues concerning international investment flows. "Part II" deals with both MIGA's guarantee and non-guarantee operations. It covers in detail the different aspects of political risk insurance as well as the advisory and promotional services needed to encourage greater flows of capital and technology across national boundaries and towards developing countries in particular. "Part III" deals with three major institutional and policy issues which caused the greatest controversies in MIGA's preparatory work and raised questions that go beyond MIGA's concerns. These include the standards that apply to foreign investment, settlement of disputes and the organizational and voting structures of international financial institutions. This book should be of direct interest to a broad array of researchers and practitioners in the fields of international development, foreign investment, international law, political risk insurance and international financial organizations. The topicality of its subject and the prominence of its author add to the importance of the book which is likely to remain the most authoritative in its field for many years to come.
 

Contents

ENCOURAGING THE FLOW OF FOREIGN
1
The Investment Climate
7
Relevance of a Global Agency for Investment Insurance and Promotion
17
EARLY HISTORY THE WORLD BANKS
31
The Clausen Initiative and the MIIA Outline
45
Conclusion
54
THE MAKING OF MIGA A PERSONAL
61
7
75
H Interaction in the Underwriting Process
173
Subrogation and Recoupment
179
MIGAS NONGUARANTEE OPERATIONS
191
MIGA AND THE STANDARDS APPLICABLE
217
MIGA AND THE SETTLEMENT OF DISPUTES
257
Disputes Resulting from Subrogation
260
Disputes Between a Holder of the Agencys Guarantee and a Host Government
281
MIGAS ORGANIZATION AND VOTING STRUC
293

Improving the Chances of Reaching Agreement
80
Reaching Consensus
92
12
95
17
101
ELIGIBILITY REQUIREMENTS OF MIGAs
109
Eligible Investors and Host Countries
118
ADMINISTRATION
147
Amount of Guarantee
153
F Premiums and Fees
167
The Voting Structure in MIGAs Board and Council
304
Main Features of a Proposed Multilateral Investment Guarantee Scheme
331
Convention Establishing the Multilateral Investment Guarantee Agency
353
Appendix 3 Commentary on the Convention
391
Draft Rules and Regulations
417
Draft Application Forms
497
Selected Bibliography on the Guarantee of Investment Against NonCom
511
Index
525
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