Top Story

G20 buries its head in the sand amidst increasing calls for action on sovereign debt

Last week, G20 Finance Ministers failed to act on calls to enhance the Common Framework. We cannot wait any longer for the G20 to take decisions on how to improve the existing debt architecture. In this article we look at the trends and risks regarding sovereign debt that the G20 seem to be ignoring and we believe will need close attention in the coming months.

Read our analysis here.

News

New leak shows Swiss banking secrecy and illicit financial flows is still a serious problem

The Suisse Secrets leak confirms civil society's long held concerns that trusts can be used to circumvent transparency rules and hide money. In this article, our tax justice experts sum up why the era of bank secrecy is far from over.

Infogram: Ghana and the debt crisis

Ghana passed quickly from being the poster child economy for West Africa to being one step away from losing its access to international capital markets. The following infographic highlights why urgent international support and a multilateral, inclusive debt workout mechanism is needed to help the country address its debt burden.

Click to see the full infogram.

African-European CSOs issue statement to all Heads of States and government dignitaries attending the 6th EU-AU Summit

Ahead of the 6th European Union - African Union Summit, a coalition of African and European civil society organisations issued a declaration to urge governments and institutions to build a new AU-EU partnership based on equality, inclusivity, mutual accountability, shared values and prosperity.

Useful Resources

EU fails to deliver on climate finance at Africa Summit

By ActionAid

“African countries are on the frontlines of the climate crisis. We expected a clear commitment from the EU to finally deliver on previous pledges of climate finance." Read the full statement by ActionAid here. 

Oxfam reaction to AU-EU Summit outcome on Special Drawing Rights

By Oxfam International

“It is sorely disappointing to see EU countries failing to step up and publicly commit, either individually or collectively, to reallocate a concrete amount of Special Drawing Rights to poorer countries." Read the full reaction by Oxfam here. 

Key Concepts: Human Rights and the Economy

By Center for Economic and Social Rights

This primer explores the unjust power dynamics behind countries' public debt, and how looking at the issue through a human rights lens can help advocacy efforts. It challenges traditional thinking on the vicious cycle of external debt and analyzes how government borrowing can boost both public services and the economy.

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Call for tender for consultancy: seminar organisation and final report writing

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9-10 June | Eurodad Conference 2022

Save the date for the Eurodad conference 2022 - Reboot the system: Defining joint strategies for economic justice!

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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.