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Challenges rise fast, reforms proceed slowly as political blockades remain an issue – Spring Meetings round-up

Finance ministers from around the world gathered in Washington DC last week for the IMF and World Bank spring meetings. Held amid an economic downturn and emerging risks of a new round of debt crises, the key task was to discuss how the two organisations can be made more effective to address these challenges, which threaten to affect people’s lives and derail progress toward development goals.  A gloomy scene for development A dramatic scene was set by the IMF’s flagship publication, the World Economic Outlook, which underlined rising inequality, while revising projections for the global economy down. Economic growth is now expected to slow to 3.3 per cent in 2019, a reduction of 0.4 per cent as compared to their overoptimistic projections from last year.  When economic growth ...

press
World Economic Outlook: Eurodad warns that new debt crises could derail the sustainable development goals

Washington DC, 9 April 2019 - The new World Economic Outlook released today indicates that the world economic situation is deteriorating. Many poor countries have already been struck by debt crises. Eurodad, a major network of European civil society organisations working on development finance, warns that progress against the sustainable development goals could be derailed or even reversed. Poverty and inequality could rise, if no counter measures are taken.“High debt levels became a key constraint ...
Eleven years ago, the international community adopted the Paris Declaration on Aid Effectiveness that led to the adoption of several principles to improve the effectiveness of international aid. Reflecting on the widely criticised fact that creditors ...
The role of International Financial Institutions (IFIs) – particularly the International Monetary Fund (IMF) – in Central and Eastern Europe (CEE) has not been the central focus of many analyses in the past. To address this gap, four case studies ...
+CADTM
The International Monetary Fund (IMF) announced its intention to cancel almost $100m of debt owed by the Ebola-affected countries Guinea, Liberia and Sierra Leone, and announced it would provide $160m in new loans. Debt justice campaigns welcomed the ...

blog
Greek elections: Time for the EU to talk debt

Bodo Ellmers

26 Jan 2015 15:45:46

The outcome of yesterday’s elections in Greece puts a new government in power that takes an alternative and proactive approach to ending the heavily indebted nation’s debt crisis. European debt justice groups welcome the plans of the new Syriza-led government to renegotiate Greece’s heavy debt burden with its creditors. These negotiations should start as soon as possible. Muddling through is no longer an option The policy of ‘muddling through’ with which the EU - assisted by the International Monetary Fund - dealt with the Greek debt crisis has lasted for far too long. And it never solved the problem. Today, Greece suffers from a debt burden that is higher than ever before. It amounts to 174 per cent of GDP, roughly three times of what is considered a sustainable debt to GDP ratio ...