Development Finance International
15 April - DFI Advocates Sovereign Debt Resolution Procedure
In the CSO seminars’ programme during the BWI Spring Meetings, DFI proposed a motion that “The World Needs a Sovereign Debt Bankruptcy Procedure”, in an Oxford-style debate organised by New Rules for Global Finance, and won the motion by 80-20% and by convincing 20% of the audience to change their positions to favour the motion. A video of the debate is available on the New Rules website.
14 April - Developing Country Ministers Demand Tax Justice from G20, Washington
DFI/OIF supported OIF IDA borrowing Ministers of Finance to contribute to a discussion with the G20 Development Working Group on Financing for Development. Ministers focussed on debt problems for SIDS, the need to reduce the cost of remittances, and especially on the need for G20 Finance Ministers to take political decisions to reform global tax laws and stop insisting on tax exemptions for their companies and their ODA, in order to allow developing countries to get their fair share of global tax revenues.
13 April - The new 2015 Government Spending Watch report
The 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:
Read more...
13 April - ODI Launches Financing the Future Report, New York
An evening reception launched the ODI report on Financing the Future, advocating mobilisation of public finance for the SDGs, especially for low- and lower-middle income countries and social protection. Oxfam Executive Director Winnie Byanyima and Ulrika Modéer Swedish Secretary of State for International Development Cooperation made remarks supporting the report’s conclusions.
8-10 April - Development Cooperation to Support the SDGs, Incheon
DFI Director Matthew Martin participated as a resource person in several Financing for Development related events in a UN Development Cooperation Forum symposium in Incheon, Korea. He presented the case for closer monitoring of how private sector and blended private-public financing will contribute to reaching the SDGs, discussed lessons from DCF mutual accountability surveys for future assessment of MA, and presented a DCF policy briefing on which modalities of development cooperation can best reach the SDGs.
