Private
finance
Debt
Tax
justice
Aid
Financial
architecture

Search by publisher


Display by category

Search results

blog
2018 development aid figures. Why aid reporting rules matter for more effective development

Jan Van de Poel

19 Apr 2019 11:41:09

Last week the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) released their preliminary figures on the amount of official development assistance (ODA), or development aid, raised in 2018. Following the OECD’s publication, Eurodad released an initial reaction. Nothing new under the sun?In 2018, ODA headline figures took a dive by 2.8 per cent compared to 2017, bringing the development effort of all OECD member states to a meagre 0.31 per cent of gross national income, far below the 0.7 per cent commitment made nearly half a century ago. The inclusion of costs not immediately linked to development needs of recipient countries continue to inflate aid figures and undermine the credibility of the reporting exercise of a scarce but crucial ...

blog
State of emergency: UN convenes Financing Forum while a new wave of debt crises threatens to derail sustainable development

Bodo Ellmers, Tove Ryding

16 Apr 2019 18:05:50

This week, governments will meet at the United Nations in New York for the Financing for Development Forum, and the challenge is very clear. Too little progress has been made towards achieving the UN’s sustainable development goals (SDGs), which to a large extent is the consequence of lacking finance. The 2015 Addis Ababa Action Agenda, a UN framework adopted at the same time as the SDGs, which is supposed to ensure money flows toward development and the achievement of the SDGs, is not fulfilling its objective. Political differences at the Addis Summit meant that fundamental institutions, such as a multilateral debt workout mechanism to prevent and resolve debt crises, could not be agreed upon. Developing countries have repeatedly called for developed countries to engage in a negotiation ...

blog
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
Plummeting aid figures fail to meet spending target while leaving poorest behind

Brussels, 10 April 2019 - New preliminary aid figures released by the Organisation for Economic Co-operation and Development (OECD) today show spending in 2018 fell by 2.7 per cent compared to 2017, with the neediest countries being hit hardest. Last year’s Official Development Assistance (ODA) for all OECD’s Development Assistance Committee (OECD DAC) members equaled 0,31 per cent of gross national income, less than half of the 0.7 per cent longstanding spending target – a commitment made ...

press
Eurodad response to selection of David Malpass as the new president of the World Bank Group

On Friday 5 April, David Malpass was selected as the new president of the World Bank Group. Mr. Malpass was the only candidate for the post, after having been nominated by US President Donald Trump. Commenting on the selection, Maria José Romero, Policy and Advocacy Manager at the European Network on Debt and Development (Eurodad), said: “It is a missed opportunity that the selection process wasn’t competitive nor transparent. On the contrary, since the World Bank’s founding, ...

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 ...

blog
The IMF and PPPs: A master class in double-speak

Maria Romero, Gino Brunswijck

08 Apr 2019 15:21:37

While the IMF cautions against the fiscal risks of public-private partnerships (PPPs), the institution is simultaneously backing them at a country programme level and advocates austerity measures that push governments towards expanding PPPs through constrained budgets. The fiscal risks of PPPsAs far back as 2004, the IMF’s Fiscal Affairs Department (FAD) published a paper stressing that “one particular concern is that PPPs can be used mainly to bypass spending controls, and to move public investment off budget and debt off the government balance sheet, while the government still bears most of the risk involved and faces potentially large fiscal costs.”Concerns over the fiscal risks of PPPs have also underpinned the work of the IMF to quantify the macro-fiscal impact of PPP projects. ...

blog
EU leadership needs to embed human rights into economic policy-making

Mark Perera

04 Apr 2019 10:20:46

In a valuable step forward to support human rights compliant economic policy-making, the UN Human Rights Council (HRC) called on 21 March for governments and intergovernmental organisations to make use of new UN guidance when developing economic reforms. EU states on the HRC boldly exercised their votes to oppose these calls, in a move that stands in direct contrast to EU commitments from only two years ago to adopt a rights-based approach to development, and support countries in building resilience to prepare for and respond to economic shocks without compromising long-term development prospects. New UN guiding principles add to the debt management toolbox The HRC resolution on the effects of foreign debt on the enjoyment of human rights highlights new UN Guiding Principles on human rights ...
Registrations are open for the Eurodad International Conference this June in Ljubljana, Slovenia. This year’s event is co-hosted with Ekvilib Institute and supported by SLOGA platform, Focus and EnaBanda. Asking whether development finance in the ...