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+eurodad
From 3-4 June, we met in Ljubljana, Slovenia, for our International Conference to build momentum to create change in development finance and achieve economic justice for all. Here are just a few highlights from two days of highly productive ...

blog
Delivering human rights and the SDGs: Does IMF Conditionality pass muster?

Gino Brunswijck

29 May 2019 17:54:58

Last week the International Monetary Fund (IMF) published its Review of Program Design and Conditionality 2018, which provides an overview of the IMF’s lending programmes between 2011 and 2017. While the review includes some positive elements, such as the acknowledgement to improve debt sustainability analysis (DSA), it falls short of fully accounting for the impact of conditionality on:inequalitypublic service provisionlabour rightsgender equality.  It is, therefore, a missed opportunity to evaluate IMF-lending practices against international agreements, in particular the sustainable development goals (SDGs) and international human rights and labour standards.   The review is timely - debt crises are brewing in several low-income countries – and offers the IMF’s view on ...

blog
Call to action - support the tax justice pledge.

Olivia Lally

23 May 2019 15:38:38

Civil society organisations from across Europe have launched a tax justice pledge in the lead up to the European election, which take place across EU Member States from the 23 – 26 May 2019. The tax justice pledge calls on election candidates to commit to supporting five policy priorities, should they be elected as Members of European Parliament (MEPs). Globally, corporate tax avoidance is costing countries an estimated US$500 billion per year, while in the EU, the annual loss to profit shifting by multinational corporations is estimated to be €50-70 billion annually. In the world’s poorest countries, one type of corporate tax avoidance alone is costing countries an estimated US$100 billion per year. This money is greatly needed to fund public services such as healthcare ...

press
Eurodad response to large-scale international fraud with value added tax (VAT)

Under the headline Grand Theft Europe, the newsroom Correctiv, together with media outlets across Europe, have published the results of a cross-boundary investigation about large-scale international fraud with value added tax (VAT). According to the European Commission, this type of fraud is costing European governments around €50 billion each year. Commenting on the revelations, Tove Maria Ryding, Tax Coordinator at the European Network on Debt and Development (Eurodad), said: “It’s sad to ...

blog
Civil society organisations call for the World Bank to reconsider its policy advice on public-private partnerships

Cecilia Gondard

03 May 2019 16:01:01

Over the years the World Bank has developed a number of “guidance tools” on public-private partnerships (PPPs) aimed to support public authorities to implement PPP projects. One of them is the Guidance on PPP Contractual Provisions, which support developing country authorities to draft PPP contracts. Earlier this year the World Bank opened the 2019 version of this document for public consultation. As a response, 20 civil society organisations (CSOs) including Eurodad members and partners from the global north and south and signatories of the PPP manifesto campaign supported a submission to the Guidance on PPP Contractual Provisions.  The submission was developed by legal experts at Foley Hoag, the International Institute for Sustainable Development, and the Observatory for Sustainable ...

blog
Eurodad in Action at the UN Financing for Development Forum

Bodo Ellmers, Tove Ryding, Cecilia Gondard

24 Apr 2019 17:19:29

The United Nations convened in New York last week for the Financing for Development Forum. While the outcome document has been negotiated in advance, the Forum itself offered lots of opportunities to discuss what change we need to finance the sustainable development goals. Eurodad staff and members as well as the broader Civil Society Financing for Development Group made extensive use of these opportunities. Here is a wrap-up of the highlights which ranged from policy debates on aid, debt, tax and private finance to the first ever – but probably not the last – Civil Society Debt Workout.  Eurodad at the #FfDForum

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 ...