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G20 – a chance for solutions, or a part of the problem?

As G20 leaders meet this weekend to debate the state of the global financial and economic system, there is no shortage of problems to discuss. For example, the world is facing a new wave of debt crises; continued large-scale corporate tax avoidance; and a desperate lack of funding for achieving the sustainable development goals, including for ensuring basic infrastructure for public services and combating climate change. The failure of the global system is also exacerbating existing inequalities, including gender inequality.  But the G20 is by no means a young and new initiative and while assessing the challenges ahead, it is also important to look back and discuss whether the global problems we are facing have arisen in spite of the G20 leadership, or – at least to some extent – because ...

blog
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 ...

blog
IMF and World Bank Spring Meetings: drifting off course as multilateralism faces headwinds.

Bodo Ellmers, Maria Romero

25 Apr 2017 09:05:58

The 2017 spring meetings of the IMF and World Bank, which also included the second edition of the Global Infrastructure Forum, took place against the uncertainty generated by geopolitical changes such as the election of President Trump in the US and the formalisation of the UK’s exit from the European Union. A draft budget proposal by President Trump, released in the run-up to the Spring Meetings, overshadowed last week's discussions as it suggests that instead of getting a capital increase, the World Bank will experience a substantial cut in its funding from its main shareholder. Meanwhile, civil society organisations (CSOs) voiced their concerns about how far the Bretton Woods Institutions are from serving development objectives. Systematic and concerned focus on private finance. ...

press
Trade Unions and campaigners around the world accuse the World Bank of encouraging dangerous hidden debts, boycott consultation on Public Private Partnerships (PPPs)

• The boycott was launched after the World Bank ignored repeated calls for the Bank to stop promoting PPPs that contain dangerous hidden debts. • Most governments leave these costs out of the accounting books, which can lead to crippling hidden debt – especially damaging for world’s poorest countries. • See ‘Notes to Editors’ for examples of disastrous PPPs. 27 February 2017 Trade unions and campaigners from around the world are boycotting the latest World Bank consultation on PPPs, ...
331 CSOs, including Eurodad, have sent a letter to decision-makers ahead the fourteenth session of the United Nations Conference on Trade and Development (UNCTAD), taking place in Nairobi next week. The letter urges UNCTAD member states to preserve ...
The CSO Financing for Development group has published an open letter to challenge the current attempts by UN Economic Commission for Europe (UNECE) to define international standards on public-private partnerships (PPPs). Please find the full ...
In a submission this week, Eurodad together with more than 50 members and partners from the North and South commented on the draft framework suggested by the World Bank Group on disclosure in public-private partnerships (PPPs).  Read the full submission ...
This article was originally published in GREAT Insights Magazine, Volume 4, Issue 5. August/September 2015. Policy debates on development finance have been dominated by how to ‘leverage’ international private capital flows for development projects, ...

blog
Financing for development or for private interests?

Mathieu Vervynckt

13 May 2015 10:32:54

This blog was first published in Dutch on Vice Versa Magazine How can investments in and for the private sector contribute to development cooperation? This is more or less the key question on the agenda during the current Financing for Development (FfD) negotiations in New York. According to the European Union (EU), the answer lies with the risky use of public resources as a catalyst for private investment. However, this outsourcing of development cooperation to the private sector is accompanied by a serious lack of evidence about the real development impact, transparency, accountability and developing country ownership.   In a way, you have to give the EU credit. By means of a well thought-through communication strategy, the EU has managed to place private finance at the heart of the ...