Development Finance Watch, Issue 92

Eurodad Newsletter March 23, 2012 - Issue #92 European Network on Debt and Development DEVELOPMENT FINANCE WATCH

Top Story » EU transparency proposal threatened by imaginary EU Country-by-country reporting rules are now being discussed by member states and the European parliament. But one of the clearest flaws in the European Commission’s (EC) proposal to increase corporate and government accountability has been ignored. Namely, the EC has included an exemption meaning companies would not have to disclose payments in countries where criminal law prohibits such disclosure. read more News» Making budget support more effective for poverty reduction – letter to Catherine Ashton Eurodad in conjunction with Oxfam and Actionaid have sent a letter to Baroness Catherine Ashton raising our concerns that budget support might turn into an increasingly political instrument. read more News» European NGOs meet to prepare for the World Bank and IMF Spring Meetings Last week the European network of IFI (International Financial Institution) watchers – the EuroIFInet – met in Brussels for its yearly meeting to prepare NGO actions for the Spring Meetings of the World Bank and the IMF, which as usual are taking place in Washington DC from 20th to 22nd of April. read more News» The creeping futility of the global forums peer reviews Eurodad partners Tax Justice Network (TJN) has released a new briefing on the futility of the global forums peer's reviews. The OECD’s Global Forum peer review, the main mechanism for assessing the effectiveness of Tax Information Exchange Agreements (TIEAs), is seriously flawed and therefore contributes to failure in reducing rampant tax evasion. read more Blog» Pressure mounts to strengthen EU country-by-country reporting Various influential voices have been arguing that the European Commission’s (EC) proposal for country-by-country reporting of payments to governments by extractive and forestry companies should apply to more sectors and other types of information. These suggestions are welcome because such measures would hold corporations accountable and help identify tax dodgers. read more

What's New   Issue #92   March 23, 2012 ACTION ALERT Take action to support automatic tax information exchange Call on G20 leaders to end the tax haven secrecy that allows companies to hide their profits and dodge paying taxes in the country where they operate. Tell world leaders to end tax haven secrecy at the next G20.   FEATURED MEMBER Ekvilib Institute  is a non-profit and independent organisation, active in the fields of social responsibility, human rights and development cooperation.   QUOTE OF THE WEEK ‘Kosovo needs clean energy, not new coal. The World Bank, along with USAID propose to close 450 MW of old inefficient coal power, rehabilitate one 600 MW coal plant, and construct a new 600 MW lignite plant. No Coal Plant is Needed. A New Coal Plant Will Drastically Increase Electricity Rates. Efficiency & Low Carbon Energy are the Low-Cost, High Job Growth Option. New Coal Will Harm Human Health and EU Accession. Kosovo’s Clean Energy is the solution.’ Agron Demi, GAP and Krenar Gashi, INDEP FACTS AND FIGURES ‘Climate investments account for 8.8% of total EIB portfolio, amounting to € 3.2 billion. Only three projects with a total value of €125 million take place in low-income countries. All of these projects are large energy generation projects’. Upcoming Eurodad briefing on the private sector’s role in climate finance   EURODAD IN ACTION Carlos Villota and Jeroen Kwakkenbos attended the EuroIFInet annual international meeting in Brussels.   Jeroen Kwakkenbos attended the OECD DAC Network on Development Evaluation workshop on budget support hosted by the Belgian government. FEATURED RESOURCE Christian Aid: Tax and malnutrition in Guatemala  podcast.   EVENTS What: A reception to introduce Jesse Griffiths, the new Eurodad Director When: 4 April, 2012 Where: Mundo B, Brussels, Belgium   What: Euromediterranean meeting on debt and audits When: 7 April, 2012 Where: Brussels, Belgium   What: World Bank Spring Meetings 2012 When: 17-23 April 2012 Where: Washington DC, USA   JOB VACANCIES Eurodad seeks a Policy and Advocacy Officer. Bretton Woods Project: Programme manager: IMF and finance London, UK FOLLOW US ON TWITTER AND LIKE US ON FACEBOOK!     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

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