April 27, 2015


Latest News

Thursday, 16 April 2015 00:00

Ministers and Experts Meet 2015Chaired and convened for the first time by Senegal, the network of Francophone LIC Finance Ministers and Experts met on 16th April 2015 in Washington, DC, on the margins of the Spring Meetings of Bretton Woods Institutions.

The experts’ meeting reviewed the first results of the revenue study in LICs carried out by DFI and OIF, the OECD’s plan to publish public revenue statistics in Africa, as well as the terms of reference for a forthcoming study on PPP as a means of financing public investments.

The ministerial meeting was an opportunity for ministers to share their concerns with OECD, IMF and World Bank representatives on the topic of domestic revenue mobilisation, and on the measures proposed by the international community to fight tax optimisation and evasion.

Monday, 13 April 2015 00:00

GSW Report 2015 CoverThe new 2015 Government Spending Watch report (“Financing the Sustainable Development Goals: Lessons from Government Spending on the MDGs”) is launched April 13th. The report uses new and unique data-sets from 67 countries on MDG spending over 2012-14 period, new data-sets on debt and defence spending, combined with in-depth analysis of the latest financing trends in developing countries, to draw lessons and implications for the FfD agenda of the SDGs.

It finds that government spending is falling one third short of MDG needs. While the SDGs will require at least US$1.5 trillion extra in public financing annually – meaning a total of US$22.5 trillion in additional finance will need to be mobilised over the lifetime of the SDGs.

The report recommends that this US$1.5 trillion can be financing through a three-pronged approach:

Friday, 27 March 2015 14:48

ODI LogoDFI helped convene an international conference in Accra, Ghana, looking at how development finance can meet the challenges of the new era given its changing nature and the proliferation of new sources. Opened by H.E. Seth Terkper, Ghana’s Minister of Finance, and organised by the Overseas Development Institute (ODI) and a coalition of global partners, the event aimed at updating participants on key debates and policy processes related to financing the SDGs, providing an overview of recent and likely future trends in the purpose, use and impact of international public finance, and at providing alternative perspectives on international public finance and its use.

Friday, 06 February 2015 00:00

GuineaLiberiaSierra LeoneIn response to the 2014 Ebola epidemic, the IMF announced it is cancelling almost USD 100 million of debt payments from Guinea, Liberia and Sierra Leone who will use the funds to cover the cost of servicing their debt. The IMF is therefore establishing a new Catastrophe Containment and Relief Window (CCRW), a relief trust which will provide grants to countries suffering epidemics and other natural disasters. It urges other lenders to Guinea, Liberia and Sierra Leone to take similar action to ease financial burden.

While this move has been largely welcomed, concerns were raised about the announcement by the Fund to also offer the West African states $160 million of new loans, which will seemingly increase debt payments in the 2020s. According to Jubilee Debt Campaign, “the debt of Guinea, Liberia and Sierra Leone to the IMF will increase from $410m to $620m over the next three years, because of the $415m of new loans granted before the announcement”.

Details of this new mechanism can be found in the IMF’s press release and an analysis by Jubilee Debt Campaign is available here.  

Tuesday, 03 February 2015 00:00

ODI LogoNew research by ODI claims that the irresponsible use of sovereign bonds is jeopardizing sub-Saharan African economies by creating boom and bust cycles, a situation echoing the 1990s’ Asian financial crisis.

Highlighting the popularity of sovereign bonds in many low and middle-income countries, the study claims that using US Dollar as transaction currency threatens the countries’ ability to honour their repayments to investors because their own local currency has significantly depreciated in 2014. According to the research, this exchange rate risk of sovereign bonds issued by governments in sub-Saharan Africa in 2013 and 2014 is threatening losses of USD 10.8 billion.

The paper is split in two parts: Part I gives an overview of the current situation of sovereign bonds issued in sub-Saharan Africa. Part II considers the risks associated with sovereign bonds and their prevalence today.

Thursday, 22 January 2015 00:00

SudanA joint World Bank / DRI mission visited Khartoum, Sudan during the month of January, 2015. The objective of the mission was to develop a reform plan on debt management, and its recommendations were structured around three main areas: institutional framework, developing the domestic market, and operational risk. The mission prepared a project that will be submitted for peer review and then to the Sudanese authorities for comments. It is anticipated that the final report will be completed by March 2015.

Friday, 19 December 2014 00:00

African Dev Report 2014The African Development Bank has released the 2014 edition of its African Development Report. Launched in the Bank’s new headquarters in Abidjan, Côte d’Ivoire, this new installment focuses on the theme of “Regional integration at the service of inclusive growth".

Since the independence decade of the 1960s, regional integration has played an essential role in the continent’s development and this report aims to discuss its relevance, 50 years later, in a changed and globalised world.

In six chapters, this publication makes a critical examination of the developments over the last five decades in terms of economic and political integration by exploring the importance and role of regional economic communities; the impact of regional infrastructure; the implications of the interregional migration of factors of production; regional financial integration and the platforms required to raise its impact on regional commerce and economic growth; and how best to link Africa to global production and trade through regional value chains.

Tuesday, 16 December 2014 00:00

WateraidGSW is currently working on a piece of research on behalf of WaterAid to carry out an analysis of financial absorption in the water and sanitation sector. The study aims to shed more light on the paradox of why high levels of water and sanitation poverty and an under-resourced sector can co-exist with available but unused funds. Budget tracking studies of the water and sanitation sector reveal that budget execution rates for many developing countries are significantly lower than the allocations available at the beginning of the financial year.

The reasons for low financial absorption can vary considerably, and may include weak human resource capacity and skills at different stages of the delivery chain, high transaction costs caused by fragmented donor activity, the slow pace of fiscal decentralisation, or an inappropriate mix of recurrent and capital funding.

Friday, 12 December 2014 00:00

New RulesDFI assisted New Rules for Global Finance to organise two recent events in New York and Washington DC. The first was a public panel in Washington, sponsored by the Heinrich Boell Foundation, in which representatives of the US government, developing countries and civil society examined Turkey’s agenda for its Presidency of the G20 in 2015, where Senegal spoke on Francophone countries’ priorities.

The second was a side-panel during the FfD events in New York, on Public-Private Financing Partnerships, at which Senegal presented its experiences of PPPs, together with representatives of the World Bank, civil society and the private sector. For more details of both events, consult New Rules’ website.  

Wednesday, 10 December 2014 00:00

ODI Publication logoGates Foundation

DFI will partner with the Overseas Development Institute (ODI) in organising a conference financed by the Gates Foundation, to be held in Accra in March 2015. The conference will help to prepare the UN Financing for Development conference in Addis Ababa in July.

DFI’s role will be to help mobilise senior developing country policymakers, and to organise plenary and technical sessions where senior developing country officials explain their financing strategies, as well as role-playing sessions demonstrating the complexities of mobilising suitable financing. DFI participated in the recent CAPE conference at ODI on 12-13 November during which preparatory meetings were held for the Accra conference.

Tuesday, 09 December 2014 00:00


DFI assisted the Organisation Internationale de la Francophonie to prepare with the participation of several Francophone developing country participants in the opening informal sessions of the Financing for Development (FfD) negotiations in New York, which will culminate in the FfD Conference to be held in Addis Ababa on 13-16 July 2015. Ministers and officials from the Democratic Republic of Congo and Senegal spoke on debt relief, partnerships for development and international and domestic tax policy.

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