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Transparency TOSSD overboard? Two major flaws with the proposed new measure of international resource flows

Jesse Griffiths

29 May 2018 21:24:17

The OECD’s long road to producing a new measure of “officially-supported resource flows to promote sustainable development” – or ‘Total Official Support for Sustainable Development’ (TOSSD) - is beginning to near its end.  An outline of the detailed reporting instructions that providers will use, with ‘excerpts’ already filled in, has been produced by the task force that is developing the concept. Sadly, it has taken this OECD-organised task force until its fourth meeting to arrange a public consultation, which will take place at the end of May. There are many problems with the concept, as the table below details, but there are two glaring faults that the OECD-led process seems unable to fix.  First, TOSSD purports to be a measure of official flows, ...

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Strong safeguards are needed when investing public money via private financial intermediaries

Martin Atkin

25 Jan 2018 14:38:46

You wouldn’t just hand your money over to someone else to invest without asking them what they were going to do with it, would you? If you were a public body, at the very least you’d want to make sure it wasn’t used in a way that damaged the environment or undermined human rights. Increasingly, however, there are concerns that development finance institutions (DFIs - government-backed institutions that invest in private sector projects in developing countries) - are lending money to private sector financial intermediaries (FIs) to invest in infrastructure projects in developing countries - without ensuring that proper environmental and social safeguards are in place. These intermediaries - private commercial banks, private equity funds and infrastructure funds - are essentially go-betweens ...
The EU Council have announced that eight countries will be removed from the EU’s list of so-called ‘Non-cooperative jurisdictions’ – also referred to as the tax haven blacklist. The eight countries, which are Barbados, Grenada, the Republic ...

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The Sustainable Development Goals won’t happen without a radical economic rethink

Jesse Griffiths

01 Nov 2017 12:36:39

The Sustainable Development Goals (SDGs) are ambitious objectives: business as usual will not deliver them. Speaking on the recent International Day for the Eradication of Poverty, UN Secretary General António Guterres acknowledged the need for new thinking: “The pledge to leave no one behind will require innovative approaches, partnerships and solutions,” he said. But this new model will only come about if we radically reshape the national, regional and global economies which lie behind many of the obstacles to achieving the SDGs. We must rethink the way we govern and manage the global financial and economic system. In part, that means rethinking the current trend to treat private finance as the default option for development. Private finance is being heavily touted by the World Bank, ...
At a high-level OECD meeting in Paris, governments of the world’s richest countries set out their vision for future development cooperation. Reacting to the communiqué issued by the OECD Development Assistance Committee (DAC) after the meeting, Polly ...
Eurodad, together with 37 civil society organisations from around the world, has delivered a Joint Submission to the 2017 High Level Meeting of the OECD Development Assistance Committee (DAC), voicing concerns about  proposed changes to the rules ...
+CONCORD
Brussels, October 23rd 2017. Pressure from a handful of the world’s richest countries is threatening to open up the rules governing aid to developing countries to alarming abuse. According to information obtained ...

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IMF challenged to match inequality rhetoric with action, and a campaign against the World Bank’s promotion of PPPs: Annual Meetings round up

Maria Romero, Mark Perera

18 Oct 2017 11:05:05

The annual meetings of the Bretton Woods Institutions (the IMF and World Bank) are over for another year. The meetings in Washington DC were held against a background of strengthened but patchy global economic growth mixed with considerable crisis risks and renewed geopolitical fights over the World Bank’s demand for a capital increase. Meanwhile, civil society organisations (CSOs) questioned the development impact of the Bretton Woods Institutions, and launched a global campaign against public-private partnerships (PPPs). IMF worries about debt (in China) and talks of taxing the rich more The 2017 Annual Meetings were preceded by the publication of the IMF’s World Economic Outlook (WEO), in which the IMF signalled stronger than expected growth forecasts for the global economy in 2017 ...