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Addressing the Financing for Development (FfD) Forum at the UN in New York, Eurodad’s Bodo Ellmers made this statement on behalf of the Addis Ababa CSO Coordination Group concerning the failure to address debt crises: “One unfortunate development ...
Upcoming vote on UN GA Resolution “Basic Principles on Sovereign Debt Restructuring Processes” (A/69/L.84) Dear Ambassador, On September 10th the international community must take an important step towards better prevention and resolution of sovereign ...
This is a guest post by Jan Van de Poel, Policy officer with Eurodad member 11.11.11 On Wednesday last week (6 May) all major parties represented in the Belgian federal parliament signed a proposal that will curtail the harmful speculation by vulture ...

press
Copenhagen hosts major conference on the future of finance and international development

Thursday April 30 2015 Civil society experts, ministers and ambassadors from five continents will meet in Copenhagen next week (5-7 May) to plan for a crucial UN summit that will decide how to finance international development over the next decade. The conference, organised by the Danish development organisation IBIS and the European Network on Debt and Development (Eurodad), is one of the biggest civil society events taking place ahead of the UN Summit on Financing for Development (FfD) , in ...
First published in The Guardian gu.com/p/47k6g/stw. No one said the fight for a better global financial system would be easy. Last week’s negotiations in the UN’s financing for development (FfD) process, which will lead to a high-level conference ...

blog
Experts warn human rights watchdog on rising activity by vulture funds

Eurodad

26 Mar 2015 11:11:22

By Aldo Caliari, Center of Concern At its 14th session, last February, the Human Rights Council Advisory Committee (“the Advisory Committee”) addressed for the first time the impacts of so-called vulture funds on human rights. “Vulture fund” is a generic name used to designate financial entities that use as a profit-making strategy the purchase of distressed debt owed by a sovereign debtor – that is, a State- on the cheap with the purpose of suing for the full amount once conditions for repayment improve. In a resolution adopted last September, the Human Rights Council entrusted the Human Rights Council Advisory Committee with the preparation of “a research-based report on the activities of vulture funds and the impact on human rights.” In preparation of that report it requested ...

blog
“Almost all” developing countries now vulnerable to financial crisis: sobering new report

Jesse Griffiths

05 Mar 2015 17:23:38

There are now two types of developing countries, and both have become increasingly vulnerable to financial crises in recent years. This is the main message of an impressive and sobering new report from inter-governmental think tank, the South Centre. The first type looks familiar to students of previous financial crises. They have “bubbles in domestic credit and asset markets” and are heavily dependent on external financing – so changes in exchange rates, or in the opinion of international investors, can spell disaster. The chart below shows that developing economies’ financial assets (that they own overseas) and liabilities (that foreigners own in their countries) have grown rapidly in the past decade. This means, of course, that they are now “closely integrated” into “an inherently ...
Today, Jesse Griffiths, Eurodad Director, spoke as part of the public hearing on Financing for Development held by the European Parliament Committee on Development. The hearing and the forthcoming report by DEVE Member Pedro Silva Pereira will feed into ...
Eurodad has written a submission to the Financing for Development (FfD) Elements Paper supporting the joint CSO response and outlining the elements that are found to be the key deliverables in Addis Ababa. These elements are transformative and address ...