Development Finance Watch, Issue 85

Eurodad Newsletter November 10, 2011 - Issue# 85   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

Top Story » EU Transparency rules: needed in all sectors The European Commission released a proposal for country-by-country reporting on 25 October, this will help to address corruption surrounding extractive industries and logging. However this will not address the larger problem of tax dodging which is prevalent in these industries and widespread in all other sectors. European parliamentarians and member states could improve the proposal so that tax issues in all sectors are covered.   read more       News » Eurodad members assess the G20’s position on tax Martin Hearson of Action Aid wrote an article criticising the G20’s convention on fighting tax evasion. Pointing out that this merely updates an existing unsatisfactory treaty. His blog from Cannes, welcomed many of the recommendations in the expert report the G20 had commissioned from the IFIs. The coalition then produced a scorecard at the end of the summit comparing the G20’s conclusions with these recommendations which found that the leaders had ignored much of this advice.   read more     News » Why the G20 must set rules for private sector involvement in development The G20 are turning more and more to the private sector as the solution to public sector malaises, but there need be binding rules in place to ensure that private finance can contribute to sustainable and equitable development. G20 governments are increasingly pushing for greater private sector involvement in developing countries, ranging from infrastructure financing, investment in food and agriculture, or climate finance.   read more       News » Trading with the air we breath? CSOs gather in Paris to reclaim public control over basic commodities The impact of financial trading in commodity price volatility has become a hot topic over recent years. More than 60 civil society groups met in Paris last week to explore what is behind commodity price swings and to reflect on how to mitigate their impact on the most vulnerable sectors of society.   read more   Report» Escaping Poverty- Or Taxes? This is an independent DanWatch study conducted in accordance with Dan- Watch’s ethical guidelines and international principles on the conduct of journalists. DanWatch is fully responsible for the contents of the study. DanWatch is an independent non-profit research centre and media that investigates corporations’ impact on humans and the environment globally. Based on DanWatch’s findings IBIS has provided a number of recommendations for IFC that are attached to the end of the report.   read more

What's New   Issue #85   November 10, 2011 ACTION ALERT Better Aid For The World We Want Sign a petition asking governments to make every dollar of aid count, to support people’s organizations to do their work in development, and ensure that citizens’ voices are heard in development and aid decisions.     FEATURED MEMBER  The new economics foundation is an independent think-and-do tank that aims to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. QUOTE OF THE WEEK “If you talk about regulation as a strategy, it means reclaiming the democratic space. The excessive and abusive role of finance in our economies was allowed to happen because of the absence of regulation.” Myriam vander Stichele from SOMO at the meeting on Financialization of Natural Resources   FACTS AND FIGURES "57 % of the companies analyzied in IFC’s extractives portfolio have channelled their investment in developing countries through an intermediate holding company in a tax haven." Escaping poverty-or taxes?, DanWatch and IBIS report   EURODAD IN ACTION  Øygunn Sundsbø Brynildsen spoke at the seminar “Debt and the Arab spring –Norwegian claims on Egypt, Tunisia and Bahrain” organised by Eurodad members NCA and SLUG. Nuria Molina attendet and spoke at the roundtable discussion "Policies for promoting the private sector's role in development" organised by Friends of Europe in Brussels.   Bodo Ellmers attended and spoke at the seminar "Busan and Beyond - New Global Partnership for Development Effectiveness?" organised by Eurodad member Kepa in Helsinki.     FEATURED RESOURCE Please sign the Make Aid Transparent campaign. MEDIA MENTIONS Eurodad was mentioned by the Guardian and capacity4dev.eu on tied aid and procurement.   Nuria Molina participated in the debate on the EU development aid reform.   Marta Ruiz was quoted in The Daily Nation on the EU Transparency and Accounting Directives.     EVENTS What: Roundtable on practical options for a fair global debt workout When:  16 November Where:  Geneva, Switzerland   What: Lunch meeting for ACP parliamentarians on the JPA report on debt and development in ACP countries When:  18 November Where: Lome, Togo   What: Lunch Seminar "Capital flight from ACP countries and parliamentarians role in plugging the leaks" When:  18 November Where:  Lome, Togo   What: Roundtable on "Country-by-Country Reporting: How financial transparency by multinational companies could contribute to development" When:  21 November Where: Brussels, Belgium   What: CEUMC-ECDPM meeting on "The Extractive Industry Development Forum: How Financial Transparency and Economic Governance can Help Achieve Development Goals" When:  18 November Where:  Brussels, Belgium JOB VACANCIES Eurodad: Director, Brussels, Belgium   Oxfam Sounth Africa: Governance Manager, Johannesburg, South Africa Read the PDF version of this newsletter. FOLLOW US ON TWITTER! If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

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