Issue 119, 23 May 2013
Dear Subscribers,
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Enjoy your read!
The Eurodad Team
Top Story
The good, the bad and the indecisive: EU leaders put tax centre stage at summit
Yesterday’s European Council – the regular meeting of EU heads of state – was dominated by discussion of measures to combat tax evasion. Though there was emphasis on the importance of the EU’s upcoming Anti-Money Laundering Directive – a key opportunity to finally uncover the secret owners of companies – there was an awful lot of delay on automatic information exchange, and a glaring avoidance of anything constructive on tax havens. Read more
News
New Eurodad briefing paper on promoting responsible sovereign lending and borrowing
How to make financing more responsible and ultimately a more effective driver of development has been a key concern for the development community in recent years. A new Eurodad briefing paper compares the UNCTAD Principles on Promoting Sovereign Lending and Borrowing with the Eurodad Responsible Finance Charter. It finds that the UNCTAD Principles, while less ambitious than the Eurodad Charter, offer a laudable step towards filling the gaping hole in the international financial architecture that has been caused by the lack of institutions to promote responsible financing. Read more
New report raises alarm bells about World Bank investments in Vietnam’s financial sector
In early May, the UK-based organisation Global Witness published its latest report, Rubber Barons, which includes alarming findings about the impact of investments by the World Bank’s International Finance Corporation (IFC) in Vietnam’s financial sector. The report illustrates some of the failures highlighted in the recent Compliance Advisor/Ombudsman’s audit report and supports calls made by civil society organisations (CSOs) for a review of IFC lending to financial intermediaries. Read more
EU finance ministers talk tough on tax evasion, but agree on little
Last week’s European Union (EU) meeting of finance ministers in Brussels for the Economic and Financial Affairs Council (ECOFIN) produced strong rhetoric about the importance of tackling tax evasion and tax fraud, but offered little in the way of concrete action. Important decisions to tackle financial secrecy were also delayed. Read more
Blog
How targeted government policy can help entrepreneurs in developing countries
A recent study co-sponsored by the United Nations Conference on Trade and Development (UNCTAD) and the German Federal Ministry for Economic Cooperation and Development (BMZ) highlights several policy decisions that governments can make in terms of public purchasing to foster the growth of domestic industries and services. The focus of this study is the Information and Communication Technology (ICT) sector. However, many of their recommendations are transferable to other sectors. Read more
Action Alert
Sign a petition calling for the IMF to cancel Pakistan debts!
Featured Member
IBIS is one of Denmark’s largest solidarity and development organisations. Through information, advocacy and campaigning, it aims to create greater understanding of the problems facing developing countries and highlights specific options for action for citizens and governments.
Featured Resources
AidWatch Policy paper History is made as EU meets the 0.7% aid target in 2015
ChristianAid’s Hunger and tax report: how tax dodging feeds world hunger
Jubilee Debt Campaign and Islamic Relief report: Unlocking the chains of debt – A call for debt relief for Pakistan
Facts & Figures
Pakistan’s debt payments will rise dramatically to US$6 billion a year over the next three years, mainly due to the repayment of IMF loans. This is more than the country's combined spending on education and health. Jubilee Debt Campaign and Islamic Relief report: Unlocking the chains of debt – A call for debt relief for Pakistan
Eurodad in Action
Eurodad's Tove Maria Ryding gave a presentation at a workshop on capital flight and the global south at the Spring Conference of the Federation of Young European Greens.
Eurodad Mentions
Eurodad is mentioned in CNCD’s report on international taxation issues (in French)
Eurodad is mentioned in an article on the G20 in the Spanish newspaper El País
Events
What: European Parliament Joint Hearing How can the EU deliver Better Aid?
When: 30 May, 15:00-18:30
Where: Brussels, Belgium
Vacancies
Eurodad seeks a new Senior Research Analyst, a new Communications and Funding Manager and a new Research, Events and Communications Assistant (Paid Internship)
The Financial Transparency Coalition is looking for a Lead on EU Advocacy
ActionAid is looking for an Advisor on Tax Justice based in Tanzania
If you have any feedback on articles, content suggestions for future issues or other thoughts, please write to: assistant@eurodad.org
Eurodad is a non-profit organisation based in Belgium. For a list of Eurodad member groups across Europe, or to join, visit our website 
