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#Covid-19 #IMF #Debt #DevelopmentFinance #CONCORD #HumanRightsWatch #LebanonSupport #JobVacancy

Eurodad Policy Forum 2020

Participants sit in a lecture hall at the University of Ljubljana at the start of the 2019 Eurodad General Assembly following the Eurodad International Conference.

Webinar: Lessons to be learned from the Coronavirus - How to build a more resilient and sustainable future (15 June)

Eurodad warmly invites its members, CSO allies from the Global South and North, and experts to participate in a webinar to kick off its biannual Policy Forum. This year, the usual face-to-face forum will be replaced by a virtual ‘unpacked’ event, through a series of webinars and workshops.
The public webinar will take place on the afternoon of Monday 15 June 2020, 15.00-16.30 CEST.

The subject will be:Lessons to be learned from the Coronavirus: Why have responses been uneven and the global response so weak? How to build a more resilient and sustainable future.

Keynote speakers at this interactive event will include Mr. Richard Kozul-Wright, Director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development (UNCTAD)

To register, please fill this form. More Policy Forum details will be published in the coming week.


Back to the Future: A sovereign debt standstill mechanism

By Daniel Munevar and Grygoriy Pustovit

The Covid-19 crisis has placed huge pressure on public budgets, forcing governments to respond by increasing their public spending. At the same time, the crisis has decreased public revenues due to vital prophylactic measures that have slowed economies down. As a result, developing countries are experiencing acute financial pressures. They are faced with tough questions: prioritise health care and social safety expenditures to save lives, or divert scarce resources to meet creditor claims? The outlook is grim; experts predict a cascade of defaults among developing nations within the next 12 months.

Our new report has identified an available IMF mechanism to impose debt standstills: Article VIII, Section 2 (b) of the IMF Articles of Agreement. The article in question allows the IMF to impose a debt standstill through the temporary suspension of enforceability of debt contracts in domestic courts of more than 189 IMF member countries, including the US and the UK.

Reports & useful resources

Development finance for Covid-19 crisis should uphold human rights

By Coalition for Human Rights in Development

In a statement published last week, the Coalition urged development finance institutions to ensure that the funding and support they provide for the Covid-19 response, and during the economic recovery period, upholds human rights and leads to economic justice for those who are most vulnerable.

Joint Letter to IFC Chief Executive Officer Re: Request for information and recommendations for protecting workers in response to Covid-19

By Human Rights Watch

This letter, undersigned by several organisations, requests information about the occupational health and safety and social protection measures implemented by current IFC clients and those who may receive new financing in response to the Covid-19 pandemic.

This video is part of Lebanon Support and Arab NGO Network for Development (ANND)'s #DebunkingIMF series. It features Gino Brunswijck, previous Senior Policy & Advocacy Officer at Eurodad, who provides insights into a report that looked at the experience of 26 different countries with the IMF.

Job vacancies

LAST CHANCE - Policy & Advocacy Officer - International Financial Institutions and Sustainable Development

Eurodad is looking to hire a new Policy & Advocacy Officer who will play a major role in our exciting work to make public development finance contribute to sustainable development objectives and the fulfilment of human rights. This means leading our cutting-edge thinking on how providers of development finance address development needs and finance a just and fair transition without imposing harmful economic policy conditions. Click here for more details on how to apply. Deadline: Sunday, 31 May.

This newsletter has been produced with co-funding from the European Union, Bread for the World and Norad. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the funders.