The Global Austerity Alert is published by ITUC, Public Services International, Bretton Woods Project, Third World Network, Arab Watch Coalition and IPD/Columbia University.
Global Processes
Global austerity alert: Looming budget cuts in 2021-25 and alternative pathways
- Debt Justice
- Austerity
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.
- Climate Finance
- Global Processes
IMF-WB Spring Meetings: Missed opportunities risk creating another lost decade for development
Eurodad Director Jean Saldanha reflects on the 2021 World Bank and IMF Spring Meetings.
- Climate Finance
- Global Processes
Special Drawing Rights: A three trillion dollar question (Infograph)
What are Special Drawing Rights and why are they so important to the global recovery post-Covid? Find out more in this interactive infographic.
Read our detailed analysis on SDRs | Click to expand the infograph
- Development Finance
- IFIs
The 3 trillion dollar question: What difference will the IMF’s new SDRs allocation make to the world’s poorest?
The US$650 billion allocation of SDRs proposed by the IMF will not support the post-Covid economic recovery of the poorest countries. In the following article, we set out the argument for a much larger allocation, one worth US$3 trillion.
- Debt Justice
- Covid-19
‘Rebuilding better', but better for whom?
In March 2020 the World Bank Group pledged to provide US$ 160bn to client countries in the 15 months to June 2021. In this briefing we analyse the Bank's response and ask, given private finance's central role, who is truly benefitting from their Covid-19 response package?
- Development Finance
- IFIs
World leaders continue to kick the can down the road on debt reform
World leaders failed to seize an opportunity for vital reform of the international debt architecture when they met yesterday (29 March) at the UN.
- Debt Justice
- Debt Resolution
How many scandals will it take for the World Bank to start doing rights not rankings?
- The publication of the World Banks’ 2021 Doing Business Report was stopped in August 2020 following a scandal that uncovered data manipulation and altered scores in four countries.
- As a result of these irregularities, Saudi Arabia was named the top improving economy of 2020 around the time of the “Davos in the Desert” summit and a year after the Khashoggi murder.
- The World Bank has launched another review of the Doing Business methodology and is finally seeking feedback from CSOs, but for a meaningful and participatory consultation it must extend the deadline for feedback and organise a follow-up discussion.
- Aid Effectiveness
- Doing Business Report
Letter to the World Bank Executive Directors about ceasing publication of the Doing Business Report
More than 300 civil society organisations and academics from across the world call upon the World Bank Executive Directors to end the publication of the World Bank’s Doing Business report.
- Aid Effectiveness
- IFIs
220 organisations urge G20 finance ministers to back a new round of IMF Special Drawing Rights, as poorest countries struggle with Covid-19 crises
A new allocation of Special Drawing Rights would send a strong signal of renewed multilateral coordination that puts life first.
- Development Finance
- Global Processes