Join the End Austerity Festival on 28-30 September!
#EndAusterity #GlobalGateway #WorldBank #ClimateChange #DebtJustice #Vacancies
Top story
Join the End Austerity Festival on 28-30 September!
Next week, civil society organisations, including Eurodad, will launch a campaign to #EndAusterity, kicking off with a three-day End Austerity Festival. The festival begins on 28 September with a panel featuring world-renowned experts, and launching two flagship reports detailing the extent of austerity measures across the world.
News & analysis
The Emperor’s New Clothes: What’s new about the EU’s Global Gateway?
In 2021, European Commission President Ursula von der Leyen presented the EU Global Gateway in her State of the Union speech. She claimed it was the EU’s new flagship strategy, investing in infrastructure to counter the influence of China’s Belt and Road Initiative. One year later, she declared that it is “already delivering on the ground” in the State of the Union 2022 speech. Yet, a new Eurodad and Counter Balance report reveals that the Global Gateway will not promote genuine international development which benefits people and communities in the Global South.
Read our reaction to the State of the Union 2022 speech here.
Climate groups from around world call on World Bank President David Malpass to be fired
by Big Shift Global
Climate change organisations under the Big Shift Coalition have called on the World Bank to fire its President David Malpass. In a panel discussion at a New York Times event yesterday, Malpass refused to back climate science and was labeled a “climate denier” by former US Vice President Al Gore. We support the Big Shift Coalition action.
Read the press release from the Big Shift here.
Over 100 experts call on BlackRock to cancel Zambia’s debt
by Debt Justice
Over 100 economists and development experts have called on BlackRock and other creditors to cancel a significant amount of Zambia’s debt. In an open letter released today, the signatories call for a large-scale debt restructuring, and for the UK and New York to pass legislation to ensure that all private creditors comply with the G20’s debt relief scheme.
Useful resources
Interest rate turnaround. A turning point for development finance?
by Global Policy Forum, Misereor and Bread for the World
Since the adoption of the 2030 Agenda on Sustainable Development, development finance has operated under conditions of low-interest rates and high liquidity in global financial markets. This has changed with the recent turnaround in interest rates. This briefing paper describes the current trends, analyzes the implications for financing sustainable development in the Global South, and formulates policy recommendations on how countries in the Global South and their financing partners in the Global North can respond to the interest rate increases.
Ukraine: War and Debt Crisis
by erlassjahr.de
Even before the Russian invasion, Ukraine was a critically indebted country, one which could easily slip into debt distress if an external shock occurred. With the Russian attack in February 2022, the shock occurred on the greatest possible scale. This focus paper intends to analyze the current debt situation and present options for a possible debt settlement after the end of fighting and under the condition of a continuing independent Ukrainian state.
A decade of rosy forecasts. How the IMF Underestimated Debt Risks in the MENA Region
by Friedrich Ebert Stiftung
Looking at a decade of forecasting practice in the MENA countries Jordan, Tunisia and Morocco, it can be found that over-optimistic baseline scenarios were a regular and intrinsic part of programs and analyses. The findings of this research are of utmost relevance for countries that may be entering a new IMF program in the near future, such as Tunisia, where talks about an IMF reform package are already underway.
Joint Conference Declaration
by LATINDADD and RJF-ALC
Our sister network Latindadd (Red Latinoamericana por Justicia Económica y Social) and RJF-ALC (Red de Justicia Fiscal de América Latina) held a reginal conference in Lima, Peru on 8-9 August 2022. The declaration is a summary of the topics and proposals discussed. It gives a regional perspective, while also incorporating important inputs from international speakers. The declaration is available in Spanish, Portuguese and English.
Vacancies
Invitation to tender: Social Media Management and Monitoring Tools
Eurodad | Deadline: 30 September
Invitation to tender: Illustration Services
Eurodad | Deadline: 3 October
Events
23 September | Global Climate Action Strikes
Join Fridays for Future for the next Global Climate Strike to demand that policymakers and world leaders prioritize #PeopleNotProfit! Let's make our Governments listen to MAPA voices and immediately work to provide Loss & Damage Finance to the communities most affected by the climate crisis.
Read more about the strike here.
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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. |
