July 17, 2024
 
 
 

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MM17For the past seven years, finance ministers from low-income Francophone countries have met in the margins of the Annual Meetings of the IMF and the World Bank to discuss financing for development. Under the aegis of the International Organization of La Francophonie (OIF), DFI helped convene the latest meeting in Washington on 20th April.

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PPPs DisasterA new briefing by the Jubilee Debt Campaign (UK) focuses on the failures of PPPs in the UK. Aimed at an international audience to inform civil society and decision makers across the world, “The UK’ PPPs Disaster: Lessons on Private Finance for the Rest of the World” sets the record straight about the true record of PPPs in the UK, by revealing the shortcomings of what is an unpopular financing mechanism.

 

 

 
 
 

Blended FinanceIn a report co-published with Oxfam International, Eurodad focuses its new piece of research on blended finance. Combining official development assistance (ODA) with other private or public resources, in order to ‘leverage’ additional funds from other actors, “blended” finance has become a common development finance term over the last few years.

However, there is a level of confusion around the way this development finance mechanism operates, coupled with a relative lack of data from blending projects. With an aim to shed light on this concept, the report clarifies what blending is, how it works and how it is used. It identifies areas that are crucial to maximize the development impact of blending projects, while providing an assessment of the associated quantitative and qualitative risks.

 
 
 

MozambiqueWorld BankA joint World Bank/DRI visited Maputo, Mozambique during the month of February, 2017. The objective of the mission was to assess the existing legal, institutional and technical environment in which debt management takes place in Mozambique using the DeMPA methodology. The mission met with government officials at the Ministry of Finance, Banco de Mozambique, Tribunal Administrativo, and the Stock Exchange and prepared a document that will be submitted for peer review and then to the Mozambican authorities for comments.  

 
 
 
Saturday, 28 January 2017 00:00

OxfamDFI helped to facilitate an Oxfam Southern Africa workshop which aimed at designing programmes to achieve fiscal justice at regional and national levels. DFI presented on global, regional and national trends in tax policies, budget financing (aid and debt), and spending policies, and assisted Malawi, South Africa, Zambia and Zimbabwe to identify their priorities for future country and regional work. Among the key priorities emerging were a regional index on fiscal justice and inequality, incidence analysis, tax incentives, gender budgeting, and extractives revenue-sharing.  

 
 
 
Saturday, 28 January 2017 00:00

SenegalDFI participated in a training and technical assistance mission at Senegal’s National Debt Committee in order to design a 5-year medium-term debt management strategy (MTDS), over the 2017-2021 period. The mission found that Senegal’s level of debt has grown at a steady rate since 2006. It also observed an increasing emphasis of commercial debt in its portfolio, despite the country’s priority to mobilise concessional resources to finance the projects laid out in the national development plan (Plan Sénégal Emergent).

The mission also found that the National Debt Committee’s significant technical capacity to develop a debt strategy was thwarted by a few issues: difficulties in following up the implementation of the strategy; a clash with other sectors’ strategic orientations fixed by the MTDS, communication and dissemination concerns, as well as problems with the publication of the strategy which remains to be approved by the political or ministerial authority.

 
 
 
Wednesday, 14 December 2016 00:00

TajikistanWorld BankA joint World Bank/DRI visited Dushanbe, Tajikistan, with an aim to develop a debt management reform plan and present it to the authorities. The Reform Plan included the following areas: medium-term debt strategy, debt sustainability analysis, developing the domestic market, debt data and recording. The Plan also included a logframe to implement the proposed actions as well as a training program.

The mission met with government officials at the Ministry of Finance, Central Bank, and other institutions involved in debt management. 

 
 
 
Saturday, 10 December 2016 00:00

OIFCote IvoireDFI facilitated the second OIF technical workshop on tax policy in Abidjan from 6 to 9 December. The workshop was organised in partnership with the government of Côte d’Ivoire, as well as CREDAF, the IMF, LSE, OECD, UEMOA, the University of Paris, UNDP, and the World Bank. Director-Generals and ministerial fiscal policy advisors from 14 Francophone countries attended the

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Thursday, 24 November 2016 00:00

Sao Tome and PrincipeWorld BankA joint World Bank/DRI mission visited Sao Tomé and Príncipe in order to assess the existing legal, institutional and technical environment in which debt management takes place in Sao Tomé, using the DeMPA methodology. The mission also assessed the degree in which the existing Reform Plan had been implemented and developed an updated debt management reform plan that included the following areas: medium-term debt strategy, capacity building, developing the domestic market, debt data and recording.

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Sunday, 06 November 2016 00:00

TogoDFI took part in the joint World Bank-IMF technical assistance mission to Lomé, Togo, in order to develop a medium-term debt management strategy (MTDS) for the 2016-2020 period. In support of Togo’s National Public Debt Committee, the mission showed that the country has a capacity to build a database in line with the required format which will enable the design of the strategy.

However, implementing the strategy is being thwarted by deficiencies in terms of institutional coordination. While systematically annexed to the budget law, the strategy is still not being used as a guiding document in the negotiation and mobilisation of loans, because of the lack of political and technical appropriation towards it.

 
 
 
Wednesday, 12 October 2016 00:00

GhanaJubilee Debt Campaign, along with the Integrated Social Development Centre, SEND Ghana, Vazoba, Kilombo, AANCLID and the Abibimman Foundation, have published a new report on Ghana’s debt situation.

The report reveals that the World Bank broke its own rules to guarantee 10.75% interest loans to Ghana. It shows how Ghana is in a new debt crisis just a decade after having significant amounts of debt cancelled by international lenders. While debt cancellation in 2004 and 2005 gave the country breathing space to increase spending on public services, the commodity price crash and currency shocks since 2013 have seen debts rapidly building up once again.

Read the full Jubilee Debt Campaign press release and the executive summary and full report here.

This issue has also been covered in The Guardian newspaper.

 
 
 
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