Analysis: World Bank and IMF failure to address the global polycrisis makes systemic reform even more urgent

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IMF-World Bank Annual Meetings 

Analysis: World Bank and IMF failure to address the global polycrisis makes systemic reform even more urgent

Last week’s Meetings proved yet again that without fundamental reform to how both the World Bank and IMF are governed, and how they ultimately operate, the same mistakes will be repeated again and again. And that is unacceptable.

Read our analysis here.

Read Eurodad's media reaction to the Annual Meetings here.

Watch the sessions sponsored by Eurodad here.

Global Week of Action  for Justice and Debt Cancellation

Between 10-17 October, we stood in solidarity with the millions of people in countless countries who have taken to the streets over recent months to demand debt cancellation. You can still join the more than 400 organisations and individuals from 73 countries that signed the joint statement and add your signature.

Sign the statement here.

Watch the video of the week of action here.


Riders on the storm - How debt and climate change are threatening the future of small island developing states

This Eurodad report, launched during the Annual Meetings, looks at how debt and climate change are threatening the future of Small Island Developing States (SIDS). It finds that SIDS have spent 18 times more in debt repayments than they receive in climate finance. The report suggests calls to action to help tackle these challenges.

Read the report here.

Read the press release here.

Our future is public: Why the IMF and World Bank must support public services

This paper has been written and coordinated by Eurodad, and supported by Action Aid, The East African Center for Human Rights, Initiative for Social and Economic Rights, The Global Initiative for Economic, Social and Cultural Rights, Oxfam, Public Services International and Transnational Institute. Launched during the Annual Meetings, it argues that international financial institutions such as the World Bank and the IMF are not doing enough to protect public services, despite their rhetoric arguing the opposite. It is time for a new approach and a break from the mistakes of the past.

Read the report here.

The Commitment to Reducing Inequality Index 2022

by Oxfam International

The 2022 Commitment to Reducing Inequality (CRI) Index is the first detailed analysis published looking at governments’ policies and actions to fight inequality during the first two years of the pandemic. This fourth edition of the CRI Index reviews the spending, tax and labour policies and actions of 161 governments during 2020–2022.

Read the index here.

A Nordic Initiative to Resolve the New Debt Crisis

By Norwegian Church Aid

This report takes a historical approach by looking at what has worked in past debt restructuring, develops principles for what a successful debt workout needs to contain, and recommends the next steps. 

Read the report here.

The Care Contradiction: The IMF, Gender and Austerity

By ActionAid and Public Services International

ActionAid and Public Services International have published a new report exposing the devastating impact public sector cuts are having on women in low-income countries, who face a triple threat of losing access to services, having fewer opportunities to access decent work and being forced to take on the rising burden of unpaid care work.

Read the report here.

Why climate justice must include debt justice

by Debt Justice

This joint paper with CAN International pulls together key information on the debt and climate crisis nexus and outlines policy positions on solutions with recommendations for decision-makers to act. It is designed as a tool to further explore the debt-climate nexus, and as a tool for advocacy in the run-up to, and during, COP27.

Read the briefing here.

Climate Finance Short-changed: The real value of the $100 billion commitment in 2019–2020

by Oxfam International

In 2009, high-income countries promised to provide $100bn a year in climate finance to low- and middle-income countries by 2020. They have failed to keep this promise. Their official reports claim that the climate finance they provided and mobilized reached $83.3bn in 2020, but Oxfam estimates the real value was only around a third of what was reported.

Read the briefing here.


Operations Intern

Eurodad | Brussels | Deadline: 26 October

Call for tender for consultancy - Project ‘Delivering debt justice in support of people and planet’

Eurodad | Remotely | Deadline: 9 November


16 November | The EU's Global Gateway: smart new strategy or the Emperor's new clothes? A discussion about the new EU flagship project's risks and opportunities

Register to attend the event here.

29 November -  2 December | Our Future is Public - From global inequalities to social, economic and climate justice

Our Future is Public Conference (#OFiP2022) will bring together social movements and civil society organisations from all over the world in Santiago, Chile and online for a four-day conference.

Read more about the event and register here.

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.