Development Finance Watch - Spring Meetings 2021: Yet another insufficient response to the Covid-19 crisis?

#Covid19 #SpringMeetings2021 #IMF #WBG #ODA #Debt #Tax #OECD

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Spring Meetings 2021: Yet another insufficient response to the Covid-19 crisis?

Eurodad's policy experts reflect on the 2021 IMF and WBG spring meetings, raising concerns of an insufficient response and the inability of the Bretton Woods Institutions to put global social equity at the heart of long-term plans to rebuild fairer post-pandemic.

Click here to read our expert analysis.

Click here to read the full reaction by Eurodad's director Jean Saldanha.

News & blogs

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

New preliminary figures on overseas development assistance show that while spending went up to US$ 161.2 billion in 2020, it constituted just 1% of the amount countries have mobilised in economic stimulus measures in response to the Covid crisis.

Click here to read our press reaction.

Eurodad reaction to announcements by US administration regarding the OECD-led tax negotiations in the Inclusive Framework

In reaction to proposals by the US Administration regarding the design of future global tax standards, Eurodad is concerned that by putting an extra system on top of the old one, we once again risk sliding towards a global tax system that prioritises the interests of rich countries at the expense of poorer countries.

Read our full reaction to the announcements here.

The 3 trillion dollar question: What difference will the IMF’s new SDRs allocation make to the world’s poorest?

Last week, the G20 gave the green light for the IMF to release a new US$650 billion allocation of SDRs. CSOs have been asking for a new SDR allocation since the beginning of the pandemic, but for the much larger amount of US$3 trillion. Here we explain why such a large allocation would be needed to adequately support the post-Covid economic recovery of the poorest countries.

Click here to read the full article.

Click here to view an explanatory infographic.

Debt, Kenya and the IMF

Covid-19 has left Kenya in a precarious position. Learn more about the urgent measures needed and why, in the following infograph.

Open letter to MEPs defending real public country by country reporting in trialogue negotiations

Eurodad, together with more than 75 civil society organisations, trade unions and networks from across Europe and all regions have written to MEPs urging them to stand firm in defence of public country by country reporting.

Read the full open letter here.

Reports & useful resources

‘Rebuilding better', but better for whom?

In this briefing we analyse the World Bank's Covid-19 response and ask, given private finance's central role, who is truly benefitting from the package?

Click here to read the full report.

Il est temps d’agir - comment les instruments du secteur privé compromettent les budgets de l’aide

Malgré le rôle fondemental que l'aide publique au développement joue dans un paysage de financement du développement, les niveaux d'APD ont stagné. Ce rapport rassemble et analyse tous les accords et engagements pris à ce jour par les membres du CAD sur le thème de l'APD et des instruments du secteur privé, leurs implications et les principaux enjeux.

Cliquez ici pour lire le rapport complet.

Arrested development and austerity: Avoiding the debt trap with Daniel Munevar & María José Romero

Eurodad's Daniel Munevar & María José Romero answer questions on the effects of growing debt piles for the public heath care sector in the global south, how to prevent IMF austerity measures from limiting development effort and the institutional changes needed at IFI level to avoid policy responses which create new debt traps.

Click here to watch the full video.

A debt pandemic is engulfing the global south

Covid-19 is not the only pandemic ravaging across the global south, a debt pandemic threatens to prevent developing countries' recovery. Eurodad's Daniel Munevar raises the alarm in his OpEd for IPS.

Read the full article here.

Upcoming events

15 April | Pannel discussion: Mozambique - The sovereign debt crisis and human rights violation

21 April | Debt Wednesday Session 3 - Debt relief & the Paris Club historical perspective | Overview of debt in Africa

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.


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