Development Finance Watch - Mixed report card for EC position on financing for development

This email is not displaying correctly? View it in your browser. Issue 123, 1 August 2013 Next Development Finance Watch Newsletter will be coming out on 15 August. Stay tuned. Top Story EC position on financing for development: mixed report card The European Commission’s recent accountability report and communication on financing for development highlights the importance domestic resource mobilisation, tackling illicit financial flows and meeting aid promises, but contains no substantive new commitments, ducks issues of wider systemic reform and adopts an alarmingly one-sided endorsement of stepping up the use of public money to leverage private finance. Read more News G20 finance ministers: frenetic activity, little progress G20 finance ministers’ wrapped up their meeting in Moscow on 20th July, but their communiqué reveals only limited progress on tackling tax dodging, no attempts to put in place permanent solutions to sovereign debt crises, and a potential focus on volatile international capital for long term investment. It has little to say about global economic governance reform or tackling the underlying problems of the international monetary system. Read more News Belgium tightens laws on development finance and tax havens Eurodad and members have long questioned the impact of development finance institutions (DFIs) on development. One central problem is their weak or non-existant guidelines relating to fiscal contributions and investments through tax havens. The Belgian government is moving in the right direction with their reform of the Belgian DFI, BIO-Invest. Read more Report Tracking EU Development Assistance In May 2013, Eurodad member ONE launched its 2013 DATA Report, which examines progress on the Millennium Development Goals (MDGs). ONE followed this up with a Special Report Tracking Development Assistance, which holds European governments to account for their promises to the world’s poor, with a particular focus on sub-Saharan Africa. Read more Action Alert On 12 August, your government will send written input to a new EU Directive that could help to end tax haven secrecy. Most member states are disappointingly reluctant to contribute. Contact your government and ask them to support real action against tax havens by supporting full country-by-country reporting! Download this three-page advocacy note for more inspiration.  Featured Member Institute of Global Responsibility (IGO) is an independent non-governmental organisation based in Poland. It focuses primarily on development policy issues, development education and cooperation with partners in the global south. IGO conducts research and advocacy work on aid effectiveness. Quote “There are many alternative sources of fiscal space for recovery, even in the poorest countries, and all are supported by UN and IFI’s public statements. These include fighting illicit financial flows, restructuring debt and adopting a more accommodating macroeconomic framework.” From Isabel Ortiz's presentation at the Eurodad-Glopolis International Conference 2013. Facts & Figures Preliminary figures suggest that in 2012, 14 of the 15 EU Member States with data available on sub-Saharan Africa cut aid to the region. Their cuts totaled 19% – almost three times as deep as their overall aid cuts of 7%, according to Special Report Tacking Development Assistance launched by ONE. Eurodad in Action María José Romero spoke on the EU blending facility at the Euro-Latin American Parliamentary Assembly Eurodad Mentions Eurodad is mentioned in the EU Accountability Report 2013 on Financing for Development Eurodad is quoted in an article about EU support to the private sector published by EurActiv Eurodad is quoted in an article on Ecuador's debt released by the Huffington Post Eurodad New Staff Mathieu Vervynckt is joining Eurodad on Monday 5 August as Research Assistant, Events and Communications Assistant. Vacancies Eurodad currently seeks a Grants, Finance & Office Manager and a Finance & Accounting Officer. Find out more about these vacancies. 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  Follow us on Twitter | Like us on Facebook | Forward to a friend  Copyright © 2013 Eurodad, All rights reserved.  Articles are available for re-use in other publications, as long as reference is made to the original source.  Mailing address: Rue d’Edimbourg, 18-26. Brussels 1050. Belgium  Unsubscribe from this list | Update your profile information