Argentina: creditors must take action to stem human impact of debt crisis


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Photo of the Argentine national congress and the Buenos Aires skyline at sunset

Photo: Argentine National Congress by Sander Crombach on Unsplash

Argentina: creditors must take action to stem human impact of debt crisis

Argentina continues to struggle with recession and a mounting debt crisis. The country has been on selective default for a few months and is battling to avoid a broader default. It has been trying to find a workable solution with its private creditors, with bilateral creditors through the Paris Club and with the IMF, by proposing a comprehensive and consistent debt restructuring process. However, this has resulted in little success to date. On top of this already complicated situation, Argentina is now facing the economic consequences of the Covid-19 pandemic. 


Will donors finally agree on fair rules for reporting debt relief as ODA?

Rules on how debt relief should be counted as Official Development Assistance (ODA) are currently being negotiated by the OECD and the Paris Club. In response, Eurodad, as part of a coalition of civil society organisations, is calling for the new rules to set the best incentives for the provision of much-needed ODA resources to eradicate poverty and tackle inequalities in some of the world’s poorest countries.

NGO Statement: European Green Deal must strengthen partner countries’ recovery from the Covid-19 crisis

This week, Eurodad, along with 15 other civil society organisations, released a joint statement calling for the European Union to pursue a green recovery that supports all people, communities and the planet. Countries all over the world have mobilised to react to the Covid-19 pandemic. But for developing countries in the global south, their experiences are compounded by the ongoing climate impacts that they’re also experiencing during this pandemic.

Joint civil society submission to the March 2020 OECD Development Assistance Committee Meeting on Private Finance-related issues

Eurodad, along with 28 other CSOs from the global south and the global north, sent a letter to the OECD Development Assistance Committee reacting to the recent release of ODA data reported as Private Finance Instruments. The submission was coordinated by the DAC-CSO Reference Group led by Eurodad.

Reports & useful resources

Supporting fair tax systems: An analysis of EU aid to domestic revenue mobilisation

By ActionAid

How can countries in the global south mobilise the needed revenues for investments to fight the spread of the Covid-19 pandemic, save lives and protect people’s livelihoods? Later on, how can they rebuild their economies in a sound and just basis and lay the foundations for a stronger universal public health system? For this paper, ActionAid and Oxfam analysed the European Commission’s DRM allocations for 2016 and 2017 as reported in the Addis Tax Initiative DRM database.

Health versus wealth? Tax and transparency in the age of COVID-19

Amidst an unprecedented global health and economic crisis, policy makers are adjusting to the resource challenges looming over the global economy. In the global north and the global south, the powers of government are being tested to preserve health and livelihoods at all costs. An expert discussion will consider how to prioritise and identify the reforms and policy innovations on tax and transparency that can secure greater revenue or to ensure less is lost to secrecy and abuse.

Job vacancies

Policy & Advocacy Officer - International Financial Institutions and Sustainable Development

Eurodad is looking to hire a new Policy & Advocacy Officer who will play a major role in our exciting work to make public development finance contribute to sustainable development objectives and the fulfillment of human rights. This means leading our cutting-edge thinking on how providers of development finance address development needs and finance a just and fair transition without imposing harmful economic policy conditions. Click for more details on how to apply. Deadline: Sunday, 31 May.

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.