Development Finance Watch - Talking straight on SDRs: What’s needed for fair and transparent distribution

#Covid19 #SDRs #Tax #G7 #SLUG #Climate #Debt #ODA #CSOs #G20

Top story

Talking straight on SDRs: What’s needed for fair and transparent distribution (blog 1 of 3)

In the space of a few months, Special Drawing Rights (SDRs) - supplementary reserve assets created by the International Monetary Fund - have gone from being a topic for IMF geeks to the talk of the town. There are two main issues at stake.

Find out more by reading the full blog here.

News & blogs

Eurodad media comment – Inclusive Framework statement on new global tax rules

Following last month’s tax agreement by the G7, the OECD-led Inclusive Framework has published a statement on the proposals for new global tax rules. In response to the statement, Tove Maria Ryding, Tax Coordinator at Eurodad, has issued the following statement, which you can read here.

Eurodad comment on the “LuxLetters scandal”

Last week, a new international tax scandal known as LuxLetters was revealed by Le Monde, Die Süddeutsche Zeitung, El Mundo, Woxx and Investigative Reporting Project, in cooperation with Tax Justice Network and The Signals Network.

Click here to read the full statement by Tove Maria Ryding, Tax Coordinator at Eurodad.

Spanish & French translations available for 'Failing the Poorest'

Eurodad report 'Failing the poorest: An assessment of ODA in 2020' is now available in French and Spanish.

Reports & useful resources

How to thread the needle on green debt swaps

By Anca Gurzu for Devex

There’s growing pressure on rich countries and multilateral institutions to take action on the two issues. The International Monetary Fund and the World Bank are expected to unveil a proposal for such a debt swap by November, ahead of the COP26 climate change summit in Scotland.

Click here to read the full article.

A vicious circle: the interconnection between climate and debt

By Ilaria Crotti for SLUG

The debt and climate crises are inextricably linked. In fact, the climate crisis is “the most urgent global crisis facing humanity today, that has impact for the entire planet but especially for the peoples of the global south who bear the brunt of its effects because of historical accumulated vulnerabilities”. In this context, it is a moral obligation for polluting countries to make a substantial contribution to climate finance.

Click here to read the full article.

CSO recommendations on ODA eligibility of spending related to Covid-19 vaccines

Eurodad, together with 33 Civil Society Organisations from DAC and CSO reference groups, shared a joint recommendation on the ODA-eligibility of Covid-19 vaccine spending with the OECD-DAC members.

Click here to read the full article.

Will the G20 let private finance escape debt relief once again?

While the Covid-19 recovery is starting in various developed countries, many low- to middle-income developing countries are struggling with a huge debt overhang and low economic growth, which prevents them from financing Covid-19 measures, a recovery, climate mitigation or adaptation, and the UN’s sustainable development goals (SDGs).

Click here to read the full article.

Request your copy of the Pandemic Papers!

Covid-19 has unleashed a crisis of unimaginable proportions. The Pandemic Papers is a compilation of reports and briefings released by Eurodad throughout 2020, reviewing the impact of the pandemic on debt and development finance.

Request a physical copy of The Pandemic Papers in English via this form.

Upcoming events

12 July | European strategy meeting on public services and human rights - towards a global narrative

The European strategy meeting is one of several regional meetings soon to be hosted by allies across the world in the coming weeks. The meeting aims to bring together activists and organisations working on a variety of social justice issues, with the support for quality and gender-responsive public services as a connecting node.

13 July | Rencontre Stratégique Afrique Francophone sur les services publics et les droits humains - vers un narratif mondial

Nous avons le plaisir de vous inviter à un atelier interactif et participatif de planification stratégique et de consultation le 13 juillet, de 14h à 17h UTC sur la privatisation et les services publics.

14 July | Eurodad's Debt Wednesdays -Public debt data resources | Mobilisation and advocacy strategies

The last session of the Debt Wednesday's training course will focus on how to get involved in the debt movement. We will first explore Jubilee Debt Campaign's debt data portal, before moving to a session on mobilisation and advocacy strategies.

This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the funders.