Momentum is building for stronger EU measures against corporate tax avoidance - Eurodad reaction to EU ministers’ discussion about public country by country reporting today

A new allocation of Special Drawing Rights would send a strong signal of renewed multilateral coordination that puts life first.

The UN FACTI report must be a starting gun for international action to stop illicit financial flows, what is needed now is for our governments to get to work.

The OpenLux investigation shows us two things. Firstly, transparency works, and secondly, that we have a long way to go before the EU can declare itself free of tax havens.

Today, the Global Alliance for Tax Justice (GATJ), of which Tax Justice Europe is the European Branch, and the International Consortium of Investigative Journalists (ICIJ) were nominated for the Nobel Peace Prize. See below for the press release published by GATJ.

Today the G20 published its “Common Framework for Debt Treatments beyond the DSSI.” The proposed framework is extremely disappointing, and yet again another mechanism that has been designed by and for creditors.

Following the OECD Development Assistance Committee High Level Meeting, Eurodad laments that delegates failed to show the solidarity that is needed to stay on track to reach the sustainable development goals.

• New research shows five of world’s largest DFIs – including the World Bank IFC – have directed just 2% of investments to companies based in low income countries
• CSOs call for a rethink during virtual Finance in Common (FIC) summit next week, where 400 public development banks, including DFIs, will discuss their role in the Covid-19 recovery effort

As the Annual Meetings of the IMF and World Bank draw to a close, Jean Saldanha, Director of the European Network on Debt and Development (Eurodad) reflects on a crucial, but disappointing, week in development finance.

Today the G20 announced a six-month extension to the Debt Service Suspension Initiative. It also extended the period of debt payments suspension from four years to six years. In addition, the G20 announced a common framework for debt treatments beyond the DSSI, the details of which will be announced in November.