Julia Ravenscroft

Julia Ravenscroft

Eurodad media comment – Inclusive Framework statement on new global tax rules

Following last month’s tax agreement by the G7, the OECD-led Inclusive Framework has published a statement on the proposals for new global tax rules. 

  • Tax Justice
Julia Ravenscroft

Eurodad comment on the “LuxLetters scandal”

Today, a new international tax scandal known as LuxLetters was revealed by Le Monde, Die Süddeutsche Zeitung, El Mundo, Woxx and Investigative Reporting Project, in cooperation with Tax Justice Network and The Signals Network. 

  • Tax Justice
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
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
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

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
  • Covid-19
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.

  • Development Finance
  • Global Processes
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
  • Covid-19
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
  • Covid-19