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PPPs lead to dangerous debts for developing countries — it’s time for the World Bank to act

Maria Romero, Mathieu Vervynckt

01 Mar 2017 16:26:56

This blog was originally published on Devex. For many years, public-private partnerships have been promoted by governments and financial institutions as a way to pay for development projects such as roads, schools and hospitals. The World Bank is at the forefront of this push and advises governments on how to structure their PPPs. But it also ignores civil society campaigners’ concerns about the dangerous hidden debts that PPP projects can lead to. The European Network on Debt and Development, and more than 75 nongovernmental organizations and trade unions from all over the world, will not participate in the World Bank’s public consultations on PPPs until this dangerous problem is tackled. What are PPPs? PPPs are agreements in which the private sector essentially replaces governments ...
+Oxfam

blog
Information exchange needs to go beyond tax

Eurodad

26 Jan 2017 14:16:42

This blog was originally published by Tax Justice Network How to improve the Automatic Exchange of Information Automatic exchange of information (AEOI) is one of the hottest topics in the fight against tax evasion. The idea is that tax authorities will automatically exchange information about tax payers with financial assets in their jurisdictions. So, if someone from Spain has a bank account in the Cayman Islands, the Cayman Island authorities will, if many conditions are met, automatically inform the Spanish tax authorities.  We have generally welcomed this development, but we have also warned about many loopholes, especially those which prevent access to information by developing countries. For this reason, TJN sent a survey to more than 100 jurisdictions asking their views about how ...
+ActionAid

blog
Nine United Nations principles that can help Greece and the Eurozone in 2017

Tiago Stichelmans

12 Jan 2017 10:57:29

Last December’s clash between the finance ministers of the Eurozone (the Eurogroup) and Greece shows how far we are from a long-term and sustainable solution to Greece’s debt issues. On 5 December, the Eurogroup endorsed proposals presented by the European Stability Mechanism (ESM) that will lead to symbolic debt relief and might represent up to a 20% debt reduction by 2060, according to the ESM. European governments did not take any further steps, however, as they remain divided on the future of Greece’s programme and most notably on the 3.5% fiscal surplus target after 2018. Even the International Monetary Fund (IMF), an organisation that can hardly be considered a radical leftist group, felt the need to clarify that it is not calling for more austerity for Greece and that the 3.5% ...

press
Sharp rise in secret ‘sweetheart' tax deals with multinational corporations exposed in new report

New report analyses developments across Europe and finds: Since the LuxLeaks scandal, the amount of secret ‘sweetheart deals’ between multinational corporations and European governments has increased by almost 50% Mapping of government positions show political support for transparency has grown, but challenges remainEuropean governments continue to sign controversial tax treaties that undermine taxation in developing countriesAmong the 18 countries analysed in the report, not a single government ...