Development Finance Watch, Issue 87

Eurodad Newsletter December 08, 2011 - Issue# 87   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

Top Story » Busan Partnership for Effective Development Cooperation: some progress, no clear commitments, no thanks to EU The Fourth High Level Forum on Aid Effectiveness (HLF4) has come to a close, resulting in the new Busan Partnership for Effective Development Cooperation, which is a mixed bag in terms of the results that civil society was advocating for. read more    Read the CSO statement on private sector declaration and watch Jeroen Kwakkenbos's interview     Report » PRESS RELEASE: European export support swells poor country debt and shrinks aid budgets, exposes new Eurodad research Campaigners are demanding tighter controls on the activities of so-called export credit agencies after a report released on Tuesday lifts the lid on how the shadowy government bodies force vulnerable developing nations ever-deeper into debt, while allowing European governments to count their own financial gain as development aid. read more   Download the report       News » Parliamentarians from four continents echo Eurodad demands on debt Members of parliament from Africa, the Caribbean and the Pacific (ACP) and Members of the European Parliament gathered at the Joint Parliamentary Assembly in Lomé, Togo, end of November, and adopted a resolution expressing strong concern about debt vulnerabilities in developing countries, and calling for policy reforms.   read more       News » The IFC’s incomplete approach to offshore abuse of aid The World Bank Group’s new policy on offshore financial centers will aim to improve the effectiveness of its private sector arm by helping countries tackle tax evasion but effective rules must be made for partner companies.   read more   News » Country-by-Country Reporting in the EU: debating the case for full transparency  EURODAD recently held a roundtable in the European Parliament on 21st November to launch its new report “Exposing the lost billions. How financial transparency by multinationals on a country-by-country basis can aid development’. This report explains why under current accounting regulations it is so easy for multinational companies to dodge taxes and proposes full country-by-country reporting as a key solution.   read more     Report » PRESS RELEASE: Details of Zimbabwe's $7bn debt revealed for first time Newly uncovered documents reveal that Zimbabwe’s £210 million debt to the UK includes loans from Tony Blair’s government to Zimbabwe’s police force while they were engaged in internal repression. Campaigners in Zimbabwe are calling for an audit of the country’s $7 billion debt to find out who did and did not benefit from past loans.   read more   Download the report

What's New   Issue #87    December 08, 2011 ACTION ALERT Stop the debt vultures In November a Jersey court awarded the debt vulture fund FG Hemisphere $100 million from the Democratic Republic of Congo, where millions of people live in extreme poverty. Ask the new Chief Minister of Jersey to end this parasitic practice. FEATURED MEMBER Broederlijk Delen is a Brussels based NGO that gives local groups in the South the opportunity to realize their own plans.   QUOTE OF THE WEEK "We affirm that the presence of CSO’s at the table is not enough when in decisions our voices are not heard." Tony Tujan at the 4th High-Level Forum on Aid Effectiveness in Busan, Korea.   FACTS AND FIGURES  Between 2005 and 2009, 85% of European bilateral debt cancellation was actually cancellation of export credit debt. Still, most of this was reported as development aid. "Exporting goods or exporting debts?" Report   EURODAD IN ACTION Bodo Ellmers, Jeroen Kwakkenbos and Clare Birkett attened the 4th High-Level Forum on Aid Effectiveness in Busan, Korea.  Øygunn Sundsbø Brynildsen and Nuria Molina spoke at the launch of the report “Exporting goods or exporting debts? Export Credit Agencies and the roots of developing country debt” in Brussels, Belgium.   Marta Ruiz spoke at the PES Progressive Convention in Brussels, Belgium.     MEDIA MENTIONS Eurodad was mentioned by: The Guardian and Voice of America on tied aid The IPS news on tax dodging and aid dependency Business Day on New Zealand's shadow economy AllAfrica on aid transparency     The Wall Street Journal and The Tax Journal on country-by-country reporting    The UN Dispatch on tax havens   The Zimbabwean, Voice of America and the NewsDay on Zimbabwe's debt audit   The Huffington Post on tax dodging   EVENTS What:  Political Cafe: Defuse the Debt Crisis When:  16 December Where: The Hague, Netherlands   NEW STAFF Carlos Villota has joined Eurodad as a new Events, Communications, Finance and Research Assistant. Welcome Carlos! JOB VACANCIES We are looking for a new Director and a part-time Finance Manager to join our team in Brussels.   Season's greetings from Eurodad team. See you next year! The next Development Finance Watch will be issued on 12 January 2012. FOLLOW US ON TWITTER!   Read the PDF version of this Newsletter. If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

We encourage our readers to circulate this newsletter to interested colleagues. If you have problems downloading from the web and would like to receive mentioned documents as an e-mail attachment, please contact assistant@eurodad.org.   Eurodad’s articles are also available for re-use in other publications with reference to the original source. EURODAD is a non-profit organisation (ASBL/VZW) based in Belgium. For a list of EURODAD member groups across Europe, or to join, see: www.eurodad.org/members

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