The Global Campaign for Education has used some data from the GSW initiative as a resource for its recent report A Taxing Business: Financing Education For All Through Domestic Resources . It identifies four major steps towards achieving increased domestic resources, primarily through improved taxation and revenue-generation from natural resources, and highlights the vast impact this could make on ensuring quality, public education for all.
The GSW website and database were launched in Brussels at an event held during the European Development Days. On the panel, DFI Director Matthew Martin began by detailing some of the key findings from the 2013 GSW report, as well as showcasing the GSW website and database, and after which he outlined some of the key steps moving forward for the initiative. Natalia Alonso, Head of Oxfam’s EU Advocacy office, briefed the audience on the campaigning work done by Oxfam surrounding government finance, before Patrice Sanon, Founder and Executive Director ODSAD (Burkina Faso) emphasised the importance of the website, and the crucial need to have up to date data to be able to successfully hold Governments to account. The panel discussion was then followed by a lively debate with many in the audience commending the initiative, as well as being eager to discuss its next steps. The full audio of the event is available here, along with additional pictures.
The World Bank’s World Development Report 2014: risk and opportunity – managing risk for development - argues that poor risk management reduces the chances of ending poverty and boosting shared prosperity, and demonstrates that an ability to manage risk can significantly contribute to development by saving lives, averting economic losses, creating opportunities, and helping people build better, more secure futures. The Overseas Development Institute held the UK launch of the report and you can watch the video and download the World Bank’s presentation here.
The OECD has published the 2013 edition of the Central Government Debt Statistical Yearbook. An analytical tool primarily for debt managers, this latest installment provides improved quantitative statistics on African central government debt issuance, as well as bilateral, multilateral and concessional. It is envisaged that future editions will include general government debt. Countries included in this fourth edition are Angola, Cameroon, Gabon, Kenya, Madagascar, Malawi, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Tanzania, Tunisia, Uganda and Zambia.
A joint World Bank-DRI mission visited Yerevan, in Armenia from Oct 29th to November 8th, 2013, to assess debt management activities in the country based on the DeMPA methodology developed by the World Bank. The mission met with staff from various institutions involved in debt management such as the Ministry of Finance, the Central Bank and presented its preliminary assessment to the authorities. The mission will finalise the report and submit it the Armenian authorities.
DRI coordinated for the World Bank Debt Management Facility (DMF) a regional MTDS training workshop in Dakar, Senegal, facilitated by World Bank and DRI consultants. The 25 participants from 11 Francophone countries and institutions asked to prepare their databases before the event according to specific data requirements. They were then able to finalise their own country databases, ready for the introduction to the toolkit developed to assist governments to develop an MTDS. The training also familiarised them with the analytical tool through a series of exercises enabling them to quantify and measure the performance of alternative debt management strategies under different shock scenarios.
DFI joined a joint World Bank/IMF mission to Praia, Cape Verde. The mission took place at the request of the Ministry of Finance, and focused on providing technical assistance in debt management strategy formulation. The mission shared the Bank-Fund framework for Medium-Term Debt Management Strategy (MTDS) development, and jointly with a government team, applied it to Cape Verde. In the process, the team provided training on basic cost-risk analysis, data preparation, and preparation of a debt management strategy document.
GSW was asked to attend the UN Women Expert Group Meeting (EGM) in Mexico City entitled ‘Challenges and Achievements in the implementation of the MDGs for Women and Girls’, to present findings of a paper into ‘gender responsive’ expenditure tracking, commissioned by UN Women. The GSW and other papers presented formed the basis for an overall EGM report, of which the main recommendations will be presented at the 58th session of the Commission on the Status of Women (10th-21st March 2014).
A joint World Bank-DRI mission visited Sarajevo, in Bosnia and Herzegovina to assess debt management activities in the country based on the DeMPA methodology developed by the World Bank. The mission met with staff from various institutions involved in debt management such as the Ministry of Finance, the Central Bank and presented its preliminary assessment to the authorities. The final report will shortly be finalised and submitted to the Bosnian State authorities.
DFI was on the panel at the launch of the Global Governance and Impact Report at the BWI Spring Meetings chaired by U.S. Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee. The result of a collaboration between 10 organisations and individual contributors, this comprehensive report analyses the governance and impact on sustainable development of the G20, IMF, World Bank, FSB, OECD and UN.
DFI pursued its support for the network of low income Francophone countries with the latest OIF ministerial meeting at the BWI Annual Meetings. A wide range of development financing issues was discussed – LIC representation in the G20, debt relief, sustainability and architecture - but the ministers' main concern was the potential risks to their tax revenues caused by G8 and G20 decisions. They therefore urged the G8, G20 and the OECD to permanently include LIC countries in the formal decision making process so that their needs are taken into account. With support from OIF and regional organisations, LIC countries are planning to undertake their own studies analysing the potential negative impact of other countries' tax policies on their revenues. DFI will report on these studies on this website. The next meeting is scheduled around the BWI Spring Meetings in April 2014.