Eurodad Director Jean Saldanha looks forward to the challenges and solutions in 2023.

This week, CSOs, academics and policymakers met in Grenada to discuss the challenges that climate change and debt pose for the Caribbean region.

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.

Join Eurodad and partners at the Civil Society Policy Forum (CSPF), that will be held in-person in Washington, DC, alongside the WBG-IMF Annual Meetings 2022

IMF surcharges are a system of fees on loans from this institution which places an unfair burden on vulnerable countries that are in need of financial support.

After two years of meeting online and three since we last met in person as a network, we came together in Brussels last week for our 2022 conference “Reboot the system: Defining joint strategies for economic justice”.

Eurodad and partners represented Civil Society at this year's UN ECOSOC Financing for Development Forum in New York. 

A coalition of 34 CSOs expressed their concerns regarding the rapidly worsening of debt distress and fiscal conditions in many low- and middle-income countries. Meanwhile citizens are facing inflationary pressures as well as the ongoing impact of Covid-19, the war in Ukraine and the climate crisis. This letter was sent to the G20 Finance Ministers and Central Bank Governors, the Indonesian presidency Finance Minister Sri Mulyani and Central Bank Governor Perry Warjiyo, the European Commission, the G24, the South Centre and the UN Secretary General. 

Join Eurodad and partners at the Civil Society Policy Forum and World Bank Group - International Monetary Fund Spring Meetings this April.

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.

Last week, G20 Finance Ministers failed to act on calls to enhance the Common Framework. 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. 

This article was originally published on 16 February and updated on 24 February. 

IMF surcharges are a system of fees on loans from this institution which places an unfair burden on vulnerable countries that are in need of financial support. This guide explores how IMF surcharges work and provides an overview of the costs they impose on IMF borrowing at the global and country level. The large costs associated with surcharges are unjustified in the current global health crisis.

Join Eurodad at the virtual Policy Forum 2021 taking place from 22 to 25 November.

G20 leaders met in Rome last weekend (30 and 31 October) to address what they termed “today’s most pressing global challenges”. In the end they took no meaningful new decisions. The photo opportunity with G20 leaders throwing a coin into the Trevi fountain was a potent symbol of what the Summit turned out to be: wishful thinking without any action.

Lauded by its proponents as a “ground-breaking” and “innovative approach,” the proposal raises concerns upon closer review and is likely to turn into a costly missed opportunity for everyone involved.

Join Eurodad and partners at the World Bank Group - International Monetary Fund Annual Meetings this October

This series of infograms and charts highlight the increasing impact of debt and the Covid-19 pandemic in the global south.

Click to enlarge

62 civil society organisations and global networks across the world have published an open letter expressing their concerns about the design, consultation process and establishment of the ‘inadequate’ OECD Debt Transparency Initiative (DTI).

Covid-19 has left Colombia in a precarious position. The following infographic highlights why urgent multilateral support is needed to help the country address its debt burden.

Dive deeper into key Sovereign Bond data from Sleep now in the fire: Sovereign Bonds and the Covid-19 Debt Crisis in this interactive infographic.

The failure of the IMF to respond to the Covid-19 crisis highlights the need for urgent international financial architecture reform. Eurodad's debt team analyse the data in this infograph.

This year, the ECOSOC Financing for Development Forum took place virtually from 12 and 15 April.

Eurodad's policy experts reflect on the 2021 IMF and WBG spring meetings, raising concerns of an insufficient response and the inability of the Bretton Woods Institutions to put global social equity at the heart of long-term plans to rebuild fairer post-pandemic.

Covid-19 has left Kenya in a precarious position. Learn more about the urgent measures needed and why, in the following infograph.

What are Special Drawing Rights and why are they so important to the global recovery post-Covid? Find out more in this interactive infographic. 

Read our detailed analysis on SDRs | Click to expand the infograph

The US$650 billion allocation of SDRs proposed by the IMF will not support the post-Covid economic recovery of the poorest countries. In the following article, we set out the argument for a much larger allocation, one worth US$3 trillion.

2021 brings the hope that the Covid-19 pandemic can be controlled, but existing inequalities are exacerbating access to the vaccine and with it, return to normal life. Here we set out what we expect to be the biggest issues we face as a network in the coming year.

Eurodad pays tribute to the pioneering activism of Soren Ambrose, who dedicated his life to the cause of justice.

Following the conclusion of the first Finance in Common Summit, APMDD, AFRODAD, Latindadd, Third World Network and Eurodad have issued the following response.

Civil society activists from across the world have come together online to sound the #DebtAlarm, calling upon world leaders to act on debt cancellation. 

More than 500 civil society organisations are calling on the International Monetary Fund (IMF) to immediately stop promoting austerity around the world, and instead advocate policies that advance gender justice, reduce inequality, and decisively put people and planet first. 

The International Monetary Fund (IMF)-World Bank virtual Spring Meetings took place as global economic turmoil deepened

The G20 agreement is significant and will support the immediate Covid-19 response. But the breathing space it provides countries may be short-lived.

The world is facing an unprecedented humanitarian crisis triggered by the outbreak of COVID-19. As the Bretton Woods Institutions (BWIs) deliver their virtual Spring Meetings, there are strong calls for an ambitious response.

This seminar took place in the context of an emerging wave of debt crises across the globe, and an especially acute situation in Argentina, which had already partly defaulted on sovereign debts and announced that action on debt needs to be taken.

The 12th UNCTAD Debt Management Conference titled “Making debt work for development” took place in Geneva this week. At one of the best attended policy conferences ever, several hundred participants – including Eurodad staff, members and partners - discussed topics such as how to tackle the unfolding developing country debt crisis, debt sustainability analyses for a new debt landscape, new debt transparency initiatives, and more effective debt workout mechanisms. Participants agreed that urgent action is needed to address the new wave of debt crises, and called for more political will.

Eurodad, along with CSOs from across the world, welcome the draft UN General Assembly Resolution on "External Debt Sustainability and Development."

Thirty-five civil society organisations have today signed a declaration rejecting the IMF austerity policies implemented in Ecuador, Argentina and Haiti.

The UN Independent Expert on foreign debt and human rights will be presenting new Guiding Principles on human rights impact assessments of economic reforms to the 40th session of the UN Human Rights Council (HRC) in February/March 2019.

The Spring Meetings of the IMF and World Bank took place amid warnings of a ‘borrowed boom’ as an uptick in global growth was matched by global debt levels reaching record highs. 

The 2017 spring meetings of the IMF and World Bank, which also included the second edition of the Global Infrastructure Forum, took place against the uncertainty generated by geopolitical changes such as the election of President Trump in the US and the formalisation of the UK’s exit from the European Union.

Argentina and its bilateral creditors, coordinated by the Paris Club, have reached a deal to settle outstanding loans that were in default since 2001. According to the agreement made on 29 May, Argentina is going to pay US$ 9.7 billion over the next five years.

The long litigation odyssey between the government of Argentina and holdout creditors continues.

As the United Nations moves rapidly towards alternative proposals to sovereign debt work-out, it seems that the International Monetary Fund (IMF) does not want to be sidelined on the issue.

Almost 40 civil society organizations signed a letter calling upon Members of the European Parliament Committee on Development and European Development Ministers to take action with respect to Haiti’s debt.