Development Finance Watch, Issue 98

Eurodad Newsletter June 21, 2012 - Issue# 98 European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

 

 

Top Story » Smart spending to support sustainable development: time for a positive G20 agenda on procurement   Eurodad in conjunction with Latindadd have produced a briefing on G20 agenda on procurement. Mexico has set out five priorities for this year’s G20 summit. They pick up existing themes of past summits, including food security, strengthening financial systems and improving the economic architecture, but add an additional cross-cutting priority: “Mexico is convinced that the aforementioned priorities have to be enclosed by a renewed political commitment to sustainable development and green growth.” read more   Blog » Money laundering tip: If they don’t serve the time you haven’t done the crime?   Donor governments and multilateral institutions have provided grants and loans to private companies operating in developing countries for decades. However, since the 1990s the scale of this support has increased dramatically. In 2010 external investments to the private sector by IFIs exceeded $40 billion. By 2015, the amount flowing to the private sector is expected to exceed $100 billion – making up almost one third of external public finance to developing countries. As global ODA stagnates, several aid agencies have suggested a dramatic scaling up of public finance devoted to supporting private sector investments.   read more   Article » Parliamentarians call for financial transparency Members of parliament from Africa, the Caribbean and the Pacific (ACP) and Members of the European Parliament supported key Eurodad demands on tax when they adopted a resolution on the social and environmental impact of mining in developing countries at the Joint Parliamentary Assembly (ACP-EU JPA), in Denmark end May. The resolution stresses the need to fight the culture of secrecy as well as tax evasion and money laundering.   read more   News » G20: Latindadd and partners call for financial trnsparency The G20 had raised high hopes of increased financial transparency and ’an end to tax havens’ but in reality the forum has lead to few concrete measures. Latindadd a network of 17 organisations from 10 Latin American countries together with Eurodad and India’s Centre for Budget and Governance Accountability made the following statement in the build up to the summit.   read more   Report » Is EIB money going to the poorest? Eurodad member Re:common and Counter Balance have released a new report about the EIB’s approach to microfinance in developing countries”   With this report Counter Balance takes a closer look into the microfinance activities of the European Investment Bank, a relatively new sector for the bank. While the EIB scores better than average on some indicators, it does not manage to escape the microfinance trap: social performance is generally subordinated to the goal of financial sustainability.   read more                 What's New   Issue #98   June 21, 2012 ACTION ALERT Petition to the G8/G20 Chairs to support an International Debt Court: Sing petition.     FEATURED MEMBER   Debt and Development Coalition Ireland, is composed of organisations and individuals who share a deep concern about the injustice of the debt crisis and a commitment to work together for an effective, fair and speedy solution to the crisis.     FACTS AND FIGURES ‘The higher the leverage ratio, the stronger the private sector influence and the lower the likely development additionally’ Eurodad’s report: “Private profit for public good? Can investing in private companies deliver for the poor?”     QUOTE ‘Foreign debt is still and again a big threath to African countries. The experiences of the highly indebted African countries before, during and after the HIPC and MDRI processes continue to push us to double our efforts to lobby and advocate for effective debt management and call for fair and transparent debt workout mechanisms’. Tirivangani Mutazu, Afrodad.     FEATURED RESOURCE Website: Red de Justicia Fiscal de América Latina y el Caribe   Report: A Partnership of unequals - Electricity exports from the eastern neighbourhood and western Balkans. By Bankwatch Network.     EURODAD IN ACTION Jeroen Kwakkenbos participation in the  private roundtable to discuss the study by Bigsten, Platteau and Tengstam, ‘The Aid Effectiveness Agenda: The benefits of going ahead’ on 14 June at ODI's offices in Brussels.   Javier Pereira presented at ‘The Netherlands as a tax haven: current research, policy and trends’ seminar organised by SOMO and the University of Amsterdam on 8 June in Amsterdam.     EVENTS What: Task Force for Financial Integrity and Economic Development Conference When: 17-18 October, 2012 Where: Tunis, Tunisia     MEDIA MENTIONS Eurodad was mentioned by Tax Journal on beneficial ownership.   Eurodad was mentioned by The Guardian on World Bank concessional loans and grants     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     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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