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7th September 2017

Hello, and welcome back to a bumper edition of the newsletter after the (European) summer break. We hope you like the new format - please do send your feedback as well as ideas and content for future newsletters to the Eurodad comms team: 

Top story

As Hurricane Irma devastates the Caribbean, some of the worst-affected countries are already struggling with massive debt repayments which will only be made worse if they have to borrow to finance much-needed reconstruction, according to Eurodad member Erlaasjahr, who make the case for immediate debt relief to facilitate rebuilding efforts. Read more here.

Antigua & Barbuda is already among the most severely indebted island nation s in the region with public debt at around 100% of Gross National Income. It's estimated that between 2011 and 2015, an average 12.2% of annual export earnings went on servicing debt to external creditors, and a payment of nearly US$3 million is due to the IMF today (September 7).  IMF support for reconstruction is available via the Fund's Rapid Financing Instrument (RFI) - but this will only add to the overall debt. As Erlassjahr notes, "Debt relief qualifies as an immediate crisis response... The IMF needs to declare an immediate debt service moratorium as of today, thus making the almost US-$ 3m available for immediate disaster relief.

News and Reports

Economic reform must not be an excuse for undermining human rights by Mark Perera
August marked the 35th anniversary of an event that sparked a debt crisis across the developing world. Read more.  
Public-Private Partnerships as the Answer . . . What was the Question? by Manuel F. Montes 
Industrialization, inequality and sustainability: What kind of industry policy do we need? Policy Brief from the South Centre

Is the Philippines heading into a debt crisis? Article in ASEAN Today

Members' reports

'Double standards: How the UK promotes rip-off health PPPs abroad’ by Jubilee Debt Campaign UK

'Stemming the Spills: Guiding Framework for National Tax Spillover Analyses' by ActionAid 

In the news

Eurodad was mentioned by the Sunday Observer:
'More of the same: Are the World Bank and AIIB locked in a failed development model?'

Lessons from 12 August 1982

María José Romero was quoted by IBON in the IBON Primer on Public-Private Partnerships (PPPs) 

"The continued lack of a regime for debt crisis resolution means countries would probably face the same chaotic and protracted process as Mexico did in the 1980s."
Mark Perera, Senior Policy and Advocacy Officer, Eurodad
Useful resources
Financing Infrastructure in Developing Countries through Public-Private Partnerships by Bread for the World 

Mozambique should not pay the hidden debt by Joseph Hanlon

Changing the rules of aid – understanding ODA modernisation - animated presentation by Development Initiatives 

Achieving Sustainable Development - free online course by the Trinity College Dublin

IMF watchdog calls for fund to be more consistent on international issues by Public Finance International

Smart Laundromat: The inside story of CBA money-laundering scandal by Michael West

The Global Partnership for Effective Development Co-operation is carrying out Needs Assessment Survey to better identify crucial needs for increasing the effectiveness of their development cooperation and partnerships. Participate here.
Job opportunities

Senior Policy and Advocacy Officer / Policy and Advocacy Officer 

The purpose of this role is to help ensure that Eurodad's work on improving the effectiveness of aid is based on robustly researched analysis, with a strong advocacy focus. Application deadline: 8th October.

Read more and apply here.


Wealth of Nations: Journalist reporting on illicit finance in Africa

Wealth of Nations is recruiting journalists based anywhere in Africa and motivated to understand how their country could be losing money via illicit means. Application deadline: 9th October.

The Global Initiative for Economic, Social and Cultural Rights: Human rights and social services campaigner

The campaigner will lead the campaign and the communication, support the advocacy, event organization, research and fundraising related to the role of private actors in public services. Application deadline: 13th September

ITUC: Finance Officer 
The International Trade Union Confederation is looking for a Finance Officer (Temporary contract - 18 months) to be in charge of accounting, finance and project finance. Application deadline: 24 September 

Soros Justice Fellowships
The Soros Justice Fellowships fund outstanding individuals to undertake projects that advance reform, spur debate, and catalyze change on a range of issues facing the U.S. criminal justice system. 

Upcoming events

11th September, l’Aquilone (Boulevard Saucy, 25 - Liège)

Comité pour l'abolition des dettes illégitimes (CADTM) will hold a meeting on Mexican debt: 'Le Mexique a prouvé qu’il est possible de répudier une dette' 

20th September, 10.00–11.30 am (BST)

Development Initiatives is organizing a webinar 'How is aid changing? An introduction to ODA modernisation'. More informaton and registration here. 

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This newsletter has been produced with the financial assistance of the European Union under the 'Raising public awareness of development issues and promoting development education in the European Union (DEAR)' programme. The contents of this publication are the sole responsibility of Eurodad and can under no circumstances be regarded as reflecting the position of the European Union.