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.

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

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

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

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

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

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.

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.

• 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 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

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.

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.

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.

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.

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.

Campaigners dismayed at the International Monetary Fund’s new lending