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.

Eurodad calls for structural and governance reform to both institutions as Meetings show they are not fit for purpose in the 21st century

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

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.

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

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.

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

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.

• 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

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.