The world finds itself in a polycrisis with three proposals on the table: the Evolution Roadmap of the World Bank Group; the Bridgetown Initiative; and the Summit for a New Global Financing Pact, which takes place in Paris next week. To explore each of these initiatives further, Eurodad and partners organised a webinar which featured three experts who give their points of view: Daniela Gabor, Professor of Economics and Macrofinance at UWE Bristol, Liane Schalatek, Vice-Director of Boell Foundation North America and Mariama Williams,Director of the Institute of Law and Economics (ILE).

Indications are that just a small amount of countries opposed controversial practice of repackaging vaccines originally stockpiled for rich nations as aid.

The new Chair of the OECD’s Development Assistance Committee (DAC) is Denmark’s Carsten Staur – an experienced former Minister for International Development Co-operation – who will start his role in March 2023. In a world of overlapping crises, the stakes are too high to fail.

The Organisation for Economic Co-operation and Development’s Development Assistance Committee is a group of donor countries that monitors development finance flows. Over the past 20 years it has periodically amended the rules for calculating official development assistance — most recently as part of the ODA modernisation process.

After two years of meeting online and three since we last met in person as a network, we came together in Brussels last week for our 2022 conference “Reboot the system: Defining joint strategies for economic justice”.

Thirty-three organisations from the global south and the global north have signed a statement arguing that the World Bank has not learnt crucial lessons from the Covid-19 pandemic and broader health financing evidence.

Download the statement

More than two years on from the outbreak of Covid-19, developing countries still have a long way to go to control the pandemic and its effects. Although in 2021 ODA reached a new all-time-high of US$178.9 billion, this is still insufficient to meet the mid-term and long-term challenges ahead of 2030 and the achievement of the Sustainable Development Goals. Furthermore, in relative terms ODA remained at 0.33 per cent – far from the 0.7 per cent international commitment.

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.

Due to the rules governing the distribution of Special Drawing Rights (SDRs), more than US$400 billion of last year's US$ 650 billion issuance went to advanced economies who didn't need them. A group of CSOs are therefore calling for a new allocation of SDRs with fairer distribution to help tackle the global crises and substantial changes to the Resilience and Sustainability Trust, the IMF new instrument to channel SDRs.