Private
finance
Debt
Tax
justice
Aid
Financial
architecture

Search by publisher


Display by category

Search results

blog
G20 game over? Three reasons why the Finance Ministers’ meeting shows the G20’s time may be up

Jesse Griffiths, Maria Romero, Tove Ryding

24 Jul 2018 18:27:54

The G20 Finance Ministers of the world’s largest economies met in Buenos Aires last weekend, but their failure to tackle pressing global problems, including the threat of trade wars and a looming debt crisis, highlighted how ineffective the G20 has become.  Given that the G20 cannot tackle key issues, is promoting ineffective initiatives, and has largely become a rubber stamping body for other actors, the time is ripe to rethink how the global economy is governed, and to promote alternatives.1.    The G20 cannot tackle key issues The 2017 G20 showed how the ‘anti-multilateralism’ approach of the world’s major powers immediately dampened the prospects of new initiatives coming out of the G20, as Eurodad reported at the time. It is no surprise, therefore, ...

blog
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, ...

blog
IMF conditionality: still undermining healthcare & social protection?

Jesse Griffiths, Gino Brunswijck

07 May 2018 11:28:22

The IMF tried last year to counter long-running accusations that its lending and advice programmes damage health outcomes in developing countries, but the independent evidence points in the opposite direction. The question is whether the IMF will use this year’s reviews of its conditionality and of lending facilities for low-income countries (LICs) to switch approach and start helping  Sustainable Development Goal (SDG) three to “ensure healthy lives and promote well-being for all at all ages.” The IMF claims to protect health expenditure An IMF blog from March last year claimed that: “A number of studies have found that IMF support for countries’ reforms, on average, either preserve or increase public health spending.” However, the evidence provided was weak. Of the six ...

blog
IMF conditionality: still undermining healthcare?

Jesse Griffiths, Gino Brunswijck

12 Apr 2018 16:16:07

The article was initially published in the Global Health Check. Last year, the IMF tried to counter long-running accusations that its programmes damage health outcomes in developing countries, but the independent evidence points in the opposite direction. The question is whether the IMF will use this year’s reviews of its lending to switch approach and start helping Sustainable Development Goal (SDG) three to “ensure healthy lives and promote well-being for all at all ages.” The IMF claims to protect health expenditure An IMF blog from March last year claimed that: “A number of studies have found that IMF support for countries’ reforms, on average, either preserve or increase public health spending.” However, the evidence provided was weak. Of the six studies referenced, ...

blog
Financing for Development: Time for the UN to Take Centre Stage Again

Jesse Griffiths

23 Jan 2018 15:58:56

This article was originally published in Triple Crisis.Little progress has been made since the last conference of the United Nations Financing for Development (FfD) process, held in Addis Ababa in July 2015, which agreed the Addis Ababa Agenda for Action (AAAA) – the framework for how the world would finance the Sustainable Development Goals (SDGs). Since Addis, however, there has been little headway and last year’s UN FfD Forum was disappointing, with few concrete outcomes achieved. As the FfD Forum outcome document highlighted, that current policies are not delivering the economic step-change needed to achieve the SDGs. Given the slow rate of reform since Addis, it is clear that global leaders need to work towards a major new set of concrete actions on financing ...

blog
Concern Over Using Aid To Promote Rich Countries' Commercial Interests

Jesse Griffiths

23 Jan 2018 15:26:17

This article was originally published in In Depth News. BUSSELS (IDN) – At first glance, the latest figures on Official Development Assistance (ODA) – or aid – make encouraging reading. According to the OECD’s Development Assistance Committee (DAC), which compiles the data and sets the rules on what counts as aid, global ODA increased by more than ten percent to $145 billion in 2016. But dig behind the headline figure and the picture is less rosy, with only six of the DAC’s 30 member countries meeting the UN target of 0.7 per cent of gross national income. The average is less than half that. Meanwhile, the DAC’s measure of aid that does actually reach developing countries shows a dramatic decline from $117 billion to $103 billion in 2015 (latest available figures). ...

blog
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, ...

blog
Hamburg summit: the end of the G20’s days as a “premier forum for international economic cooperation”?

Jesse Griffiths

11 Jul 2017 16:59:06

The strangest aspect of the G20 communiqué, and the part that has dominated media coverage, is the section on the Paris climate agreement.  The strangeness arises not because of the topic – the G20 has always played second fiddle to the UN on climate issues – but because, for the first time, a whole paragraph is devoted solely to one member, the USA, explaining why it doesn’t agree with the others, followed by a paragraph by the others explaining why they will go ahead without the USA anyway, including through agreeing a “G19” action plan on energy and climate for growth.   The climate change issue is a jarring symbol of the G20’s difficulty in reaching agreement. However, the Trump administration’s ‘America first’ stance and resulting lack ...