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Plummeting aid figures fail to meet spending target while leaving poorest behind

Brussels, 10 April 2019 - New preliminary aid figures released by the Organisation for Economic Co-operation and Development (OECD) today show spending in 2018 fell by 2.7 per cent compared to 2017, with the neediest countries being hit hardest. Last year’s Official Development Assistance (ODA) for all OECD’s Development Assistance Committee (OECD DAC) members equaled 0,31 per cent of gross national income, less than half of the 0.7 per cent longstanding spending target – a commitment made ...

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Eurodad response to selection of David Malpass as the new president of the World Bank Group

On Friday 5 April, David Malpass was selected as the new president of the World Bank Group. Mr. Malpass was the only candidate for the post, after having been nominated by US President Donald Trump. Commenting on the selection, Maria José Romero, Policy and Advocacy Manager at the European Network on Debt and Development (Eurodad), said: “It is a missed opportunity that the selection process wasn’t competitive nor transparent. On the contrary, since the World Bank’s founding, ...

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World Economic Outlook: Eurodad warns that new debt crises could derail the sustainable development goals

Washington DC, 9 April 2019 - The new World Economic Outlook released today indicates that the world economic situation is deteriorating. Many poor countries have already been struck by debt crises. Eurodad, a major network of European civil society organisations working on development finance, warns that progress against the sustainable development goals could be derailed or even reversed. Poverty and inequality could rise, if no counter measures are taken.“High debt levels became a key constraint ...

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European court rules that Belgium’s ‘sweetheart’ tax scheme is not state aid - exposes cracks in broken tax system

Brussels, 14 February 2019 - Today, the European Court of Justice ruled against the European Commission, which had alleged that the Belgian tax scheme, known as the ‘excess profit scheme,’ provided illegal state aid worth around €700 million to multinational corporations.The Belgian tax scheme allowed selected multinational corporations to discount large parts of their profits when paying corporate tax in Belgium. It has existed since 2005, and came into the spotlight in 2015, when the ...

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Eurodad reaction to the European Commission’s initiative on EU tax decision making

Tuesday January 15 2019 Today, the European Commission kick-started the debate on whether to change EU decision making on tax matters, suggesting a stepwise move towards qualified majority voting, including giving an active role to the European Parliament. At the same time, the Parliament, which currently has an advisory role on EU tax matters, adopted a strong and progressive report calling for the EU to get rid of tax policies that have negative impacts on gender equality. Tove Maria Ryding, ...

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IMF loan conditions make situation worse for crisis-hit countries, shows new study

Study shows IMF is increasing number of loan conditions – leading to more influence in countries’ economic policies Fiscal austerity is still a central feature of most IMF programmes Most countriesare repeat borrowers, revealing that conditionality is ‘not working’ Thursday November 29 2018 The IMF is attaching an increasing number of conditions to its loans to crisis-hit countries – and many of these promote harsh austerity measures which are damaging countries’ ability to provide ...

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Politicians and civil society debate the failure of public private partnerships (PPPs) and the implications for the SDGs

What: As the EU institutions discuss their long-term budgets, and how to deliver on the Sustainable Development Goals (SDGs), two important civil society reports exposing the failings of public-private partnerships in Europe and developing countries will be presented at the European Parliament. This will be followed by a debate on whether PPPs are an effective way of financing sustainable development outcomes, and the role of the EU and global institutions in promoting PPPs. The reports that will ...

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One year since Paradise Papers – EU has taken some action, but more must be done to end tax dodging

*** Online civil society press conference at this link  - Monday 5 November @ 15.00 CET *** Monday November 5 is the one-year anniversary of the publication of the Paradise Papers, which made front-page headlines around the world. In the immediate aftermath, the revelations caused political leaders to denounce tax dodging and promise improvements. However, one year after the scandal, most of the problems that led to Paradise Papers remain unaddressed. The European Network on Debt ...

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Report exposes how PPPs across the world drain the public purse, and fail to deliver in the public interest

Experts call for World Bank Group to end aggressive promotion of PPPs for public service provision Monday October 8 2018 A new report exposing how public private partnerships across the globe have drained the public purse and failed to deliver in the public interest will be launched at the Annual Meetings of the World Bank in Bali this week (Wednesday October 10 at 1.30pm). History RePPPeated: How public private partnerships are failing has been written by experts ...

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International experts call out Austria for blocking progress on transparency for multinational corporation practices

Ministry of Finance excuses crumble, as time runs out for citizens to see where multinationals are paying taxes Thursday 27th September 2018 In Vienna today, international organisations criticised the Austrian government for blocking progress on an important EU proposal for transparency about where multinational corporations make their profits and where they pay their taxes. While Austria claims to be pushing for action on corporate tax dodging during their Presidency of the EU (1), the Ministry ...