Press Releases

For media enquiries, please contact Eurodad's communications team at:

  • comms[at]eurodad.org

  • Julia Ravenscroft, Communications Manager: +44 7958 184695 | +32 486 35 68 14

Mary Stokes

COP28 - Debt swaps are not an effective instrument for reducing debt levels, says new research

Eurodad launches a new briefing questioning the impact that debt swaps have in debtor countries. 

  • Debt Justice

Yanis Varoufakis, Thomas Piketty, Vanessa Nakate and leading experts call for debt cancellation at COP28

Eurodad joins more than 550 organisations and experts calling for debt cancellation at COP28.

  • Debt Justice

An historic opportunity missed: In the midst of a development crisis gripping most of the world, the IMF and World Bank fail to provide a response

Following the Annual Meetings of the World Bank 2023, we published our reaction.

  • Development Finance
  • IFIs
Julia Ravenscroft
Eurodad

Eurodad response to resignation of World Bank President David Malpass

In her response to Malpass' resignation, Eurodad director Jean Saldanha urges the World Bank Group to see this as an opportunity to rethink the role of the institution.

  • Climate Finance
  • IFIs

Small island developing states (SIDS) have spent 18 times more in debt repayments than they receive in climate finance, says new research

Latest analyses show 31 out of 37 small island developing states (SIDS) countries are in critical debt situation, and are having to cut public budgets over the next three years. CSOs are calling for action to tackle the twin debt and climate crises at the Annual Meetings of the World Bank and IMF

  • Debt Justice
  • IFIs
Eurodad

IMF/WB Spring Meetings 2022 - As crises mount, failed and insufficient solutions from the IMF and World Bank must be replaced

Call for decision-making to shift to the UN: “the most democratic global governance space we have.”

  • Development Finance
  • Debt Resolution
Julia Ravenscroft

New report sheds light on structure and holdings of sovereign bonds of developing countries

Research discloses the identity of 501 institutional investors which hold a total of US$ 169 billion in sovereign bonds of 62 developing countries.

  • Debt Justice
  • Global Processes
Jean Saldanha

IMF-WB Spring Meetings: Missed opportunities risk creating another lost decade for development

Eurodad Director Jean Saldanha reflects on the 2021 World Bank and IMF Spring Meetings.

  • Climate Finance
  • Global Processes
Eurodad

World leaders continue to kick the can down the road on debt reform

World leaders failed to seize an opportunity for vital reform of the international debt architecture when they met yesterday (29 March) at the UN.

  • Debt Justice
  • Debt Resolution
Julia Ravenscroft

Reaction to G20 Common Framework for Debt Treatments: designed by and for creditors

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.

  • Debt Justice
  • DSSI
Julia Ravenscroft

IMF-WB Annual Meetings: Strong rhetoric, weak action

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.

  • Debt Justice
  • Covid-19
Iolanda Fresnillo

Eurodad reaction to G20 announcements on the Debt Service Suspension Initiative (DSSI)

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.

  • Debt Justice
  • Debt Resolution
Julia Ravenscroft

Over 500 organisations and academics around the world call on IMF to stop promoting austerity in the Coronavirus recovery period

  • Eurodad analysis shows Covid-19 ‘recovery packages’ could force tax increases and spending cuts in 80 developing countries by 2023, threatening achievement of SDGs.
  • 59 countries have fiscal consolidation plans over next three years that are almost five times larger than Covid-19 response packages implemented in 2020
  • Debt Justice
  • Debt Sustainability
Iolanda Fresnillo

‘Draining out the Titanic with a bucket’ – New Eurodad report shows why G20 plan to tackle Covid-19 debt crisis in developing countries is failing

  • Debt suspension offered by G20 only covers 3.65% of all the debt service payments to be made in 2020 by all developing countries
  • G20 leaders urged to massively scale up debt relief and work on longer-term global reforms to resolve debt crises or risk abandoning sustainable development and climate goals
  • Debt Justice
  • Debt Resolution
Mark Perera

Eurodad reacts to UN calls for a global mechanism for sovereign debt restructurings

Today, the UN Secretary General called for a sovereign debt restructuring mechanism to be established as part of the longer term response to the Covid-19 crisis and its economic impacts. The call is accompanied by a new report from UNCTAD - the main UN body dealing with trade, investment and development issues - calling for a global authority to oversee debt restructurings.

  • Debt Justice
  • Debt Sustainability
Julia Ravenscroft

Developing country debt must be cancelled to tackle coronavirus crisis

On World Health Day, amid an unprecedented global crisis, more than 100 organisations are calling for developing country debt to be cancelled to fight the Covid-19 health and economic crisis.

  • Debt Justice
  • Debt Resolution
Julia Ravenscroft

Impoverished countries spending up to 40% of government revenues on repaying debt, according to new research

A report published today shows that rapidly rising and more expensive public debt is pitting the rights of creditors against those of the world’s poorest - and in particular women and girls - as countries devote up to 40 per cent of revenue to external debt service.

  • Debt Justice
  • Debt Sustainability
Bodo Ellmers

World Economic Outlook: Eurodad warns that new debt crises could derail the sustainable development goals

The new World Economic Outlook released today indicates that the world economic situation is deteriorating. Many poor countries have already been struck by debt crises.

  • Development Finance
Julia Ravenscroft

Ten years on: Global debt at all-time high. Developing countries hit hard by fallout

Ten years after the collapse of US investment bank Lehman Brothers (15 Sept 2008), the world is in deeper debt than it was in 2009 – the height of the financial crisis.

  • Debt Justice
  • Debt Sustainability
Eurodad

Debt Movement calls for a total cancellation of Haiti's debt

Campaigners dismayed at the International Monetary Fund’s new lending

  • Debt Justice
Matthew Simonds

Poorest countries continue to lose out as wealthy donors pocket their own aid, according to latest OECD data

  • New figures published today by the OECD show that hosting refugees in donor countries accounts for more than US$31 billion (equivalent to 13.8 per cent of total ODA)
  • Despite a small rise in ODA across all wealthy countries in 2023, in the EU aid fell by a shocking 7.7 per cent, with only a few members reporting increases
  • Development Finance
  • Aid Quantity
Mary Stokes

Eurodad reaction to the final 2022 OECD DAC aid figures

The new figures released by the OECD Development Assistance Committee (DAC) show that while total reported ODA rose to an all time high, the percentage of ODA spent in donor countries also increased. This is hugely problematic.

  • Development Finance
  • Aid Quantity

An historic opportunity missed: In the midst of a development crisis gripping most of the world, the IMF and World Bank fail to provide a response

Following the Annual Meetings of the World Bank 2023, we published our reaction.

  • Development Finance
  • IFIs
Julia Ravenscroft

The World Bank’s Evolution Roadmap needs a rethink to deliver for the global south, say more than 70 civil society organisations and individuals

As discussions on World Bank reform continue, the briefing makes six key recommendations in order to #RerouteTheRoadmap.

Read the briefing here

  • Development Finance
  • IFIs
Julia Ravenscroft

Summit for a New Global Financing Pact: A distraction which produced false solutions that we have heard before

The Summit fell far short of the policies needed to address the global debt crisis, the climate emergency, poverty and inequality - issues which can only be addressed in a fair and inclusive manner in the United Nations, and not in Paris.

  • Development Finance
  • Debt Justice
Julia Ravenscroft
Nerea Craviotto

Rich countries increasingly the recipients of their own aid, according to OECD DAC data

Despite a seeming increase total official development assistance, Eurodad's Nerea Craviotto warns that today's figures are nothing to celebrate. The current levels of ODA do not meet the challenges the world is facing, and are a long way off meeting the 0.7% of GNI target.  

  • Development Finance
  • Global Processes

OECD DAC: Rich countries can include excess Covid-19 vaccines donated to poor countries in their 2022 aid budgets - and they might continue doing this in 2023…

Indications are that just a small amount of countries opposed controversial practice of repackaging vaccines originally stockpiled for rich nations as aid.

  • Development Finance
  • Covid-19
Eurodad

Eurodad response to resignation of World Bank President David Malpass

In her response to Malpass' resignation, Eurodad director Jean Saldanha urges the World Bank Group to see this as an opportunity to rethink the role of the institution.

  • Climate Finance
  • IFIs

APMDD and Eurodad reaction to the Finance in Common (FiC) Summit

Joint reaction by the Asian Peoples' Movement on Debt and Development (APMDD) and Eurodad to the third and first face-to-face edition of the Finance in Common (FiC) Summit.

  • Development Finance

85% of the world’s population will live in the grip of stringent austerity measures by next year

Despite the millions of people being pushed into hunger and poverty*, 143 countries - including 94 developing nations - are implementing policy measures that undermine the capacity of governments to provide education, healthcare, social protection and other public services.

  • Development Finance
  • Austerity
Eurodad

IMF/WB Spring Meetings 2022 - As crises mount, failed and insufficient solutions from the IMF and World Bank must be replaced

Call for decision-making to shift to the UN: “the most democratic global governance space we have.”

  • Development Finance
  • Debt Resolution
Julia Ravenscroft

Open letter to G20 Finance Ministers, Central Bank Governors and the IMF: Civil Society Organisations call for issuance of more SDRs and fairer distribution ahead

A group of 17 CSOs has issued an open letter to G20 Finance Ministers, Central Bank Governors and the IMF calling for a new US$2.5 trillion issuance of reserve assets called Special Drawing Rights (SDRs), and reformed criteria for distributing them in a fairer way and according to needs.

  • Development Finance
  • SDRs
Julia Ravenscroft

Rise in overseas aid in 2021 still fails to meet needs of global crises

  • Donations of excess vaccines, in-country refugee costs, the use of private sector instruments and debt relief continues to inflate aid figures
  • 40 CSOs across the world issue a joint statement calling for more and better-quality ODA
  • Development Finance
  • Aid Quantity
Julia Ravenscroft

IMF plans to distribute Special Drawing Rights to those most in need require fundamental reform

New Eurodad briefing argues that the IMF’s Resilience and Sustainability Trust is far from a silver bullet and how greater commitments are needed from governments and central banks, as billions of dollars of SDRs remain unused.

  • Development Finance
  • IFIs
Julia Ravenscroft

CSOs across the world call on the OECD DAC to drop all plans to report the donations of excess Covid-19 vaccines as aid, as member governments fail to agree on guidelines

The OECD’s Development Assistance Committee (DAC) has failed to agree on a plan on how to report the donation of excess Covid-19 vaccine doses as aid, following months of wrangling. This is a bitter-sweet victory for CSOs, as donors willing to report these excess vaccine donations will still be able to do so as in-kind donations, despite the lack of agreement.

This press release was updated on 15 February following a formal announcement by the OECD. 

  • Development Finance
  • Aid Quality
Julia Ravenscroft

Rich countries fail to agree on how to report surplus Covid-19 vaccine donations as aid

The OECD’s Development Assistance Committee (DAC) is facing an impasse among its membership on the adoption of controversial new rules that would allow rich countries to report the donation of surplus Covid-19 vaccines as aid. This is a vindication of the struggle civil society organisations have been engaging in for months opposing these new rules. 

  • Development Finance
  • Global Processes
Julia Ravenscroft

Eurodad reaction to the finalisation of IDA20 Replenishment

  • Allocation insufficient to meet urgent needs of the world’s poorest
  • No detail on how the funds will be spent
  • Development Finance
  • IFIs
Jean Saldanha

IMF-WB Annual Meetings: High expectations, poor outcomes

Eurodad’s Director Jean Saldanha reflects on the “business as usual” approach of the past week, the lack of urgency around Special Drawing Rights, and the total failure by G20 finance ministers to address deepening debt levels in the global south.

  • Development Finance
  • IFIs
Julia Ravenscroft

It’s just the tip of the iceberg: Civil society organisations call for an overhaul of the World Bank following the Doing Business Report scandal

Recommendations include an end the gentleman’s agreement in the leadership selection process, reform of the Bank’s quota system to give more power to countries from the global south and no DBR 2.0

  • Development Finance
  • IFIs
Chiara Mariotti

Eurodad reaction to the World Bank’s ‘Doing Business Report’ scandal: Fundamental reform of the Bank “urgent”

In light of the growing scandal around the World Bank's Doing Business report, Eurodad has issued the following reaction.

  • Development Finance
  • IFIs
Eurodad

Just 1% of rich countries’ spending on Covid went to overseas aid

  • OECD preliminary figures for 2020 show donors still failing to reach commitment to spend 0.7% of GNI on ODA
  • Loans are on the increase
  • Aid Effectiveness
  • Covid-19
Jean Saldanha

IMF-WB Spring Meetings: Missed opportunities risk creating another lost decade for development

Eurodad Director Jean Saldanha reflects on the 2021 World Bank and IMF Spring Meetings.

  • Climate Finance
  • Global Processes
Eurodad

220 organisations urge G20 finance ministers to back a new round of IMF Special Drawing Rights, as poorest countries struggle with Covid-19 crises

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

  • Development Finance
  • Global Processes
Julia Ravenscroft

Eurodad reaction to OECD-DAC High Level Meeting - A missed opportunity

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.

  • Development Finance
  • Aid Quality
Julia Ravenscroft

World’s biggest development finance institutions have failed to invest in the poorest countries during Coronavirus pandemic

  • 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
  • Development Finance
  • FiC
Julia Ravenscroft

IMF-WB Annual Meetings: Strong rhetoric, weak action

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.

  • Debt Justice
  • Covid-19
Julia Ravenscroft

Over half of the World Bank's emergency funding to tackle the Coronavirus crisis goes to the private sector

  • Almost 60 per cent of the Bank’s fast track Covid-19 Facility (US$ 8 billion) is being allocated through its private sector arm, the International Finance Corporation (IFC)
  • Publicly available information indicates that as of June 2020, 68 per cent of IFC Covid-19 projects targeted financial institutions
  • It also shows that 50 per cent of IFC-supported companies are either majority-owned by multinational companies or are themselves international conglomerates
  • Publicly-backed Private Finance
  • Global Processes
Jan Van de Poel

Eurodad response to the DAC’s agreement on reporting debt relief as ODA

Today the OECD Development Assistance Committee (DAC) – the group of countries that regulate how aid should be reported – agreed new rules for reporting debt relief as Official Development Assistance (ODA). Eurodad regrets that donor governments decided to rush an agreement, which allows them to report additional ODA for debt relief.

  • Aid Effectiveness
  • Covid-19
Nerea Craviotto

Donor countries urged not to weaken the rules for reporting ODA

CSOs are urging donor countries not to change the rules for reporting debt relief as Official Development Assistance (ODA) when they meet this Wednesday (15 July)

  • Development Finance
Jan Van de Poel

Aid levels show donors far from delivering on commitments as Covid-19 pandemic calls for more and better aid

New statistics published today in the midst of the Covid-19 pandemic show donors are far from delivering on their long-standing commitments and urgently need to reassess the way aid is delivered to target those who are being left behind.

  • Aid Effectiveness
Julia Ravenscroft

Failed Tunisian airport exposes major problems with public-private partnerships

World Bank, EIB and other major donors continue to push failed PPP model in the MENA region, according to new report

  • Publicly-backed Private Finance
Jan Van de Poel

Plummeting aid figures fail to meet spending target while leaving poorest behind

New preliminary aid figures released by the Organisation for Economic Co-operation and Development (OECD) today show spending in 2018 fell by 2.7 per cent compared to 2017, with the neediest countries being hit hardest.

  • Aid Effectiveness
Bodo Ellmers

World Economic Outlook: Eurodad warns that new debt crises could derail the sustainable development goals

The new World Economic Outlook released today indicates that the world economic situation is deteriorating. Many poor countries have already been struck by debt crises.

  • Development Finance
Maria Jose Romero

Eurodad response to selection of David Malpass as the new president of the World Bank Group

The selection of David Malpass as the new president of the World Bank is a missed opportunity to put an end to the gentlemen's agreement and strengthen the legitimacy of the World Bank. 

  • Development Finance
  • Global Processes
Polly Meeks

OECD fails to agree strict rules on development aid investments in the private sector - Oxfam and Eurodad reaction

The failure of the OECD’s Development Assistance Committee’s to agree tough new rules governing aid invested in the private sector - private sector instruments - was criticised by Oxfam and the European Network on Debt and Development (Eurodad) today. 

  • Aid Effectiveness
Julia Ravenscroft

IMF loan conditions make situation worse for crisis-hit countries, shows new study

The IMF is attaching an increasing number of conditions to its loans to crisis-hit countries – and many of these promote harsh austerity measures which are damaging countries’ ability to provide essential services to their citizens, for example health services.

  • Development Finance
Julia Ravenscroft

Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

A new report exposes how public private partnerships across the globe have drained the public purse and failed to deliver in the public interest.

  • Publicly-backed Private Finance
Julia Ravenscroft

More than half of aid spent on procurement still goes to rich countries' firms - almost two decades after commitment to end 'tied aid'

A new report concludes that rich countries are still awarding more than half of their development aid procurement spending to companies from their own countries.

  • Aid Effectiveness
  • Aid Quality
Julia Ravenscroft

C20 Argentina: El plan del G20 para convertir la infraestructura en una ‘clase de activo’ debe ser archivado y reemplazado por un plan para aumentar y mejorar la inversión pública en infraestructura

Un informe de Eurodad concluye que el plan del G20 de desarrollar una ‘clase de activo a partir de la infraestructura’ para alentar la inversión privada en los países en desarrollo es un gran error y debe ser archivado.

  • Publicly-backed Private Finance
Julia Ravenscroft

C20 Argentina: The G20 plan to create an infrastructure ‘asset class’ must be shelved, and replaced with a plan to increase and improve public investment in infrastructure

Eurodad report shows the G20’s plan to develop an ‘infrastructure asset class’ to encourage private investment in developing countries is fundamentally flawed and must be shelved.

  • Publicly-backed Private Finance

Why the World Bank must do better at Doing Business

On the eve of the release of the World Bank’s Doing Business 2014, civil society organisations call on the World Bank to implement the major recommendations delivered by an independent panel in June, which included ending the ranking of countries according to an “Ease of Doing Business” index and permanently removing the report’s controversial tax and labour indicators.

  • Development Finance
Tove Ryding

Historic tax vote paves the way for a UN Tax Convention

Today, a historic tax resolution tabled by the Africa Group was adopted at the UN General Assembly, kickstarting an intergovernmental UN tax process to negotiate a new UN Framework Convention on International Tax Cooperation.

  • Tax Justice
  • Stop Tax Dodging

Historic tax vote at UN tomorrow

On Wednesday 22 November, the United Nations (UN) will hold a vote to decide whether to initiate the negotiation of a UN Framework Convention to strengthen international tax cooperation

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad reaction to reports that the EU and UK are obstructing UN tax negotiations

Eurodad reacts to revelations, published in the FT, that the EU and UK seem to be playing an obstructive role in the UN tax negotiations.

  • Tax Justice
  • Global Tax Body
Tove Ryding

African countries pave the way towards a UN Tax Convention – time for OECD countries to step up

On behalf of the Africa Group at the United Nations, Nigeria has tabled a draft resolution calling for the negotiation of a comprehensive UN Convention on Tax.

  • Tax Justice
Tove Ryding

EU Court rules that the European Commission was right to say Belgian ‘excess profit’ tax scheme constituted illegal state aid

While today’s decision is a big win for the Commission, Eurodad warns that the Belgian example is a symptom of a much larger disease and the legal battles that the Commission has had to go through is a stark reminder that the international tax system is broken. 

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

New report by the UN Secretary-General outlines the road ahead for truly global tax cooperation

The game-changing report outlines the options for strengthening the inclusiveness and effectiveness of international tax cooperation and presents three possible roads ahead, all under the auspices of the UN. Eurodad welcomes this truly historic moment in international tax cooperation. 

  • Tax Justice
  • Global Processes
Tove Ryding

Eurodad reaction to the European Commission’s proposal to tackle the debt-equity bias in taxation (DEBRA)

In the midst of a very difficult economic situation, it has never been more urgent to repair our broken tax system, including by addressing large-scale corporate tax avoidance. Instead of removing the tax loopholes related to debt financing, the European Commission is instead suggesting the introduction of new tax incentives related to equity financing, which could potentially open up new avenues for corporate tax avoidance.

  • Tax Justice
  • Global Processes
Tove Ryding

Ground-breaking civil society proposal for a UN Convention on Tax is published

A UN Convention on Tax would, for the first time, create a truly global framework where all countries can participate on an equal footing. The UN is the only truly universal body that exists, making it the obvious place to anchor a truly global convention on tax.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Unambitious corporate tax proposal could lead to shortage of EU resources for Covid-19 recovery

Rather than an ambitious reform of the corporate tax rules, today's EU tax package is a Christmas present to all the multinational corporations that will be able to continue paying very low taxes.

  • Tax Justice
  • Stop Tax Dodging

Missed Opportunity: EU Parliament rubber stamps Directive that promises tax transparency, but fails to deliver

The European Parliament has rubberstamped a new EU Directive which has public country by country reporting (CBCR) in name only. 

  • Tax Justice
  • #Tax
  • #CBCR
  • CBCR
Tove Ryding

As G20 meets to rubberstamp OECD tax deal, 130+ developing countries push for UN tax body

The move, which challenges the OECD's dominance as the place where global tax rules are written, is a strong sign that many developing countries do not consider the discussion about global tax rules to be over.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad: OECD tax deal is unfair and fails to solve the problem

The OECD has produced a deal that has strong biases towards the interests of larger and richer countries, at the expense of the world’s poorest countries.

  • Tax Justice
  • Stop Tax Dodging
Eurodad

Eurodad reaction to the Pandora Papers tax scandal

This evening, the International Consortium of Investigative Journalists (ICIJ) published yet another global tax scandal – known as the #PandoraPapers. The investigation – which included over 600 journalists in 117 countries – presents the findings from a leak of more than 12 million documents. Once again, at the centre of the scandal is the use of secret shell companies by politicians and the ultra-wealthy elite.

  • Tax Justice
Tove Ryding

Eurodad reaction to G7 Finance Ministers’ tax deal

Today's agreement is not fair nor ambitious, and there is a high risk of it leading to a more complex and ineffective tax system.

  • Tax Justice
  • Global Processes

EU fails to introduce real public country by country reporting

“We’re in a middle of a global crisis, but while many big multinational corporations are cashing in record profits, large-scale corporate tax avoidance continues to cost our societies billions of Euros in lost tax income every year. We know that public country by country reporting can help solve this problem, and that is why we need urgent action. Sadly, today’s agreement has been watered down so much that it will not be effective.”

  • Tax Justice
  • CBCR
Tove Ryding

Eurodad reaction to the European Commission’s Communication on Business Taxation

It has never been more urgent and important to fix our broken corporate tax system.

  • Tax Justice
  • Global Processes
Tove Ryding

Eurodad reaction to ECJ ruling on Amazon and ENGIE tax state aid cases

While the Commission’s state aid cases are important for shining a light on the problems, they are not the solution. We need to throw the current corporate tax system in the bin and replace it with a system fit for the 21st century.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad reacts to allegations that French government used a corporate lobby document as the basis for their official position in EU negotiations on public country by country reporting.

Corporate tax avoidance costs countries hundreds of billions of Euros in lost tax income every year. Fighting this should be top priority for any government, not least when we’re in the middle of the Covid-19 crisis.

  • Tax Justice
  • CBCR
Jean Saldanha

IMF-WB Spring Meetings: Missed opportunities risk creating another lost decade for development

Eurodad Director Jean Saldanha reflects on the 2021 World Bank and IMF Spring Meetings.

  • Climate Finance
  • Global Processes
Julia Ravenscroft

Comments from Eurodad on recent announcements from the US administration regarding the OECD-led tax negotiations in the Inclusive Framework

According to the Financial Times and other news media, the US Administration has put forward specific proposals for the design of future global tax standards, which are currently being negotiated within the OECD-led “Inclusive Framework”.

  • Tax Justice
Tove Ryding

Eurodad reaction to EU ministers’ discussion about public country by country reporting today

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

  • Tax Justice
  • CBCR
Tove Ryding

Eurodad reaction to the report of the UN FACTI High Level Panel

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.

  • Tax Justice
  • Global Processes
Tove Ryding

Eurodad reaction to today's OpenLux revelations

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.

  • Tax Justice
  • Stop Tax Dodging
Eurodad

The Global Alliance for Tax Justice nominated for Nobel Peace Prize 2021

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.

  • Tax Justice
Tove Ryding

Eurodad response to today's blueprints for the Inclusive Framework on BEPS

Today the OECD published its blueprints for how to repair the global corporate tax system, which follows an update that the OECD provided in January 2020

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad response to today’s EU court ruling in the Apple / Ireland tax-related state aid case

Today, the European Court of Justice decided to annul the European Commission’s decision that Ireland’s tax treatment of Apple constituted illegal state aid.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad response to today's statement by the Inclusive Framework on BEPS

The OECD’s Inclusive Framework does not allow all countries to participate on an equal footing. We believe that decisions on global tax rules should be made at the United Nations.

  • Tax Justice
Eurodad

International NGOs call on EU Member States to end deadlock on corporate tax transparency

Three years have passed since the European Commission published a legislative proposal for mandatory tax transparency for multinational companies in the EU, called Public Country by Country Reporting. This week, Ministers from EU Member States will discuss the proposal for the first time at the Competitiveness Council meeting of the EU.

  • Tax Justice
Tove Ryding

Eurodad reaction to European Court of Justice ruling on Starbucks and Fiat state aid case

Cracks in the broken tax system exposed as the European court rules that a tax deal between Luxembourg and Fiat was illegal state aid, while another between the Netherlands and Starbucks was not.

  • Tax Justice
Tove Ryding

Eurodad response to International Consortium of Investigative Journalists' #MauritiusLeaks

Today, the International Consortium of Investigative Journalists released another ground breaking tax exposure. The #MauritiusLeaks show how multinational corporations from all over the world have used Mauritius to avoid taxes, including on their own operations in some of the world’s poorest countries.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad response to large-scale international fraud with value added tax (VAT)

Under the headline Grand Theft Europe, the newsroom Correctiv, together with media outlets across Europe, have published the results of a cross-boundary investigation about large-scale international fraud with value added tax (VAT). According to the European Commission, this type of fraud is costing European governments around €50 billion each year.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

European court rules that Belgium’s ‘sweetheart’ tax scheme is not state aid - exposes cracks in broken tax system

Today, the European Court of Justice ruled against the European Commission, which had alleged that the Belgian tax scheme, known as the ‘excess profit scheme,’ provided illegal state aid worth around €700 million to multinational corporations.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

Eurodad reaction to the European Commission’s initiative on EU tax decision making

Today, the European Commission kick-started the debate on whether to change EU decision making on tax matters, suggesting a stepwise move towards qualified majority voting, including giving an active role to the European Parliament.

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

One year since Paradise Papers – EU has taken some action, but more must be done to end tax dodging

Monday, 5 November marks the one-year anniversary of the publication of the Paradise Papers. In the immediate aftermath, the revelations caused political leaders to denounce tax dodging and promise improvements. However, one year after the scandal, most of the problems that led to Paradise Papers remain unaddressed.

  • Tax Justice
  • Stop Tax Dodging
Julia Ravenscroft

International experts call out Austria for blocking progress on transparency for multinational corporation practices

Ministry of Finance excuses crumble, as time runs out for citizens to see where multinationals are paying taxes.

  • Tax Justice
Julia Ravenscroft

Eurodad media response to the decision in the Ireland-Apple State Aid case

Today the European Commission ordered Ireland to retrieve €13 billion in unpaid taxes from tech giant Apple, after the country was found to have breached EU rules on ‘State Aid’.

  • Tax Justice
  • Stop Tax Dodging

CSOs call for an end to discrimination against women at EU events

Almost 100 civil society organisations (CSOs) and individuals sign letter condemning actions of Green MEP during European Development Days panel, and calling for new Code of Conduct

  • Gender Justice
Eurodad

Eurodad response to resignation of World Bank President David Malpass

In her response to Malpass' resignation, Eurodad director Jean Saldanha urges the World Bank Group to see this as an opportunity to rethink the role of the institution.

  • Climate Finance
  • IFIs
Jean Saldanha

IMF-WB Spring Meetings: Missed opportunities risk creating another lost decade for development

Eurodad Director Jean Saldanha reflects on the 2021 World Bank and IMF Spring Meetings.

  • Climate Finance
  • Global Processes
Eurodad

Just 1% of rich countries’ spending on Covid went to overseas aid

  • OECD preliminary figures for 2020 show donors still failing to reach commitment to spend 0.7% of GNI on ODA
  • Loans are on the increase
  • Aid Effectiveness
  • Covid-19
Jan Van de Poel

Eurodad response to the DAC’s agreement on reporting debt relief as ODA

Today the OECD Development Assistance Committee (DAC) – the group of countries that regulate how aid should be reported – agreed new rules for reporting debt relief as Official Development Assistance (ODA). Eurodad regrets that donor governments decided to rush an agreement, which allows them to report additional ODA for debt relief.

  • Aid Effectiveness
  • Covid-19
Jan Van de Poel

Aid levels show donors far from delivering on commitments as Covid-19 pandemic calls for more and better aid

New statistics published today in the midst of the Covid-19 pandemic show donors are far from delivering on their long-standing commitments and urgently need to reassess the way aid is delivered to target those who are being left behind.

  • Aid Effectiveness
Jan Van de Poel

Plummeting aid figures fail to meet spending target while leaving poorest behind

New preliminary aid figures released by the Organisation for Economic Co-operation and Development (OECD) today show spending in 2018 fell by 2.7 per cent compared to 2017, with the neediest countries being hit hardest.

  • Aid Effectiveness
Polly Meeks

OECD fails to agree strict rules on development aid investments in the private sector - Oxfam and Eurodad reaction

The failure of the OECD’s Development Assistance Committee’s to agree tough new rules governing aid invested in the private sector - private sector instruments - was criticised by Oxfam and the European Network on Debt and Development (Eurodad) today. 

  • Aid Effectiveness
Julia Ravenscroft

More than half of aid spent on procurement still goes to rich countries' firms - almost two decades after commitment to end 'tied aid'

A new report concludes that rich countries are still awarding more than half of their development aid procurement spending to companies from their own countries.

  • Aid Effectiveness
  • Aid Quality
Julia Ravenscroft

Over half of the World Bank's emergency funding to tackle the Coronavirus crisis goes to the private sector

  • Almost 60 per cent of the Bank’s fast track Covid-19 Facility (US$ 8 billion) is being allocated through its private sector arm, the International Finance Corporation (IFC)
  • Publicly available information indicates that as of June 2020, 68 per cent of IFC Covid-19 projects targeted financial institutions
  • It also shows that 50 per cent of IFC-supported companies are either majority-owned by multinational companies or are themselves international conglomerates
  • Publicly-backed Private Finance
  • Global Processes
Julia Ravenscroft

Failed Tunisian airport exposes major problems with public-private partnerships

World Bank, EIB and other major donors continue to push failed PPP model in the MENA region, according to new report

  • Publicly-backed Private Finance
Julia Ravenscroft

Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

A new report exposes how public private partnerships across the globe have drained the public purse and failed to deliver in the public interest.

  • Publicly-backed Private Finance
Julia Ravenscroft

C20 Argentina: El plan del G20 para convertir la infraestructura en una ‘clase de activo’ debe ser archivado y reemplazado por un plan para aumentar y mejorar la inversión pública en infraestructura

Un informe de Eurodad concluye que el plan del G20 de desarrollar una ‘clase de activo a partir de la infraestructura’ para alentar la inversión privada en los países en desarrollo es un gran error y debe ser archivado.

  • Publicly-backed Private Finance
Julia Ravenscroft

C20 Argentina: The G20 plan to create an infrastructure ‘asset class’ must be shelved, and replaced with a plan to increase and improve public investment in infrastructure

Eurodad report shows the G20’s plan to develop an ‘infrastructure asset class’ to encourage private investment in developing countries is fundamentally flawed and must be shelved.

  • Publicly-backed Private Finance
Tove Ryding

African countries pave the way towards a UN Tax Convention – time for OECD countries to step up

On behalf of the Africa Group at the United Nations, Nigeria has tabled a draft resolution calling for the negotiation of a comprehensive UN Convention on Tax.

  • Tax Justice

An historic opportunity missed: In the midst of a development crisis gripping most of the world, the IMF and World Bank fail to provide a response

Following the Annual Meetings of the World Bank 2023, we published our reaction.

  • Development Finance
  • IFIs
Tove Ryding

EU Court rules that the European Commission was right to say Belgian ‘excess profit’ tax scheme constituted illegal state aid

While today’s decision is a big win for the Commission, Eurodad warns that the Belgian example is a symptom of a much larger disease and the legal battles that the Commission has had to go through is a stark reminder that the international tax system is broken. 

  • Tax Justice
  • Stop Tax Dodging
Tove Ryding

New report by the UN Secretary-General outlines the road ahead for truly global tax cooperation

The game-changing report outlines the options for strengthening the inclusiveness and effectiveness of international tax cooperation and presents three possible roads ahead, all under the auspices of the UN. Eurodad welcomes this truly historic moment in international tax cooperation. 

  • Tax Justice
  • Global Processes
Julia Ravenscroft

The World Bank’s Evolution Roadmap needs a rethink to deliver for the global south, say more than 70 civil society organisations and individuals

As discussions on World Bank reform continue, the briefing makes six key recommendations in order to #RerouteTheRoadmap.

Read the briefing here

  • Development Finance
  • IFIs
Julia Ravenscroft

Summit for a New Global Financing Pact: A distraction which produced false solutions that we have heard before

The Summit fell far short of the policies needed to address the global debt crisis, the climate emergency, poverty and inequality - issues which can only be addressed in a fair and inclusive manner in the United Nations, and not in Paris.

  • Development Finance
  • Debt Justice
Julia Ravenscroft
Nerea Craviotto

Rich countries increasingly the recipients of their own aid, according to OECD DAC data

Despite a seeming increase total official development assistance, Eurodad's Nerea Craviotto warns that today's figures are nothing to celebrate. The current levels of ODA do not meet the challenges the world is facing, and are a long way off meeting the 0.7% of GNI target.  

  • Development Finance
  • Global Processes

OECD DAC: Rich countries can include excess Covid-19 vaccines donated to poor countries in their 2022 aid budgets - and they might continue doing this in 2023…

Indications are that just a small amount of countries opposed controversial practice of repackaging vaccines originally stockpiled for rich nations as aid.

  • Development Finance
  • Covid-19