Actualité
11 October Washington DC – CRI 2022 – Failing to Fight Exploding Inequality
DRI and Oxfam launched the 2022 Commitment to Reducing Inequality (CRI) report, the first detailed analysis of 161 governments’ actions to fight inequality during COVID-19. COVID has increased inequality worldwide, with the poorest hit hardest by the disease and its economic impacts. CRI 2022 shows clearly that most of the world’s governments failed to mitigate this dangerous rise in inequality. Half of lower-income countries saw health spending fall as a % of their budgets, half of countries cut the % of social protection spending, three quarters cut the % of education spending. In addition, two-thirds failed to increase minimum wages in line with GDP, and 95% failed to increase taxes on the richest people and corporations. Only a small group of governments bucked this trend, taking clear actions to combat inequality, putting the rest of the world to shame. For the English report and database, see here. For other language versions of the report, here.
SOMALIA: Commonwealth Meridian – December 2020 to September 2022
This project, funded by the African Development Bank, was the first to be implemented by DFI as exclusive distributor for Meridian. Its main objectives were to install Meridian, migrate the debt database from CS-DRMS and train Somali debt managers to record, manage and report on their debt portfolio. The new database was drawn from CS-DRMS records and loan balances reconciled with creditors for the 2020 Paris Club exercise. Following two training courses held in Nairobi, DMU staff are using Meridian on the Ministry of Finance’s cloud space, to administer their portfolio and regularly produce a quarterly debt bulletin – one of the pre-conditions for HIPC Completion Point which Somalia reached in December 2023, with total debt savings of $4.5 billion.
BHUTAN: Commonwealth Meridian – April 2022
Bhutan has been using CS-DRMS since 2005. The project, funded by the Asian Development Bank, aimed to install Meridian in the Development Coordination and Debt Management Division of the Ministry of Finance, migrate the debt database and train users in the use of Meridian. The debt database (comprising external and domestic debt, on-lent loans and grants) was migrated, two training workshops (covering intermediate and advanced use of Meridian) were organised in Thimphu, and a study tour was organised to the Maldives to expose Bhutanese officials to a Meridian site already in operation. Various customised reports were also written for Bhutan’s reporting according to national legislation. At final reconciliation stage, it was discovered that some of Bhutan’s multi-currency loans from a multilateral creditor had not been entered into CS-DRMS according to standard methodology. Work is currently being completed on finalising their re-entry and validation.
LIBERIA: Commonwealth Meridian – August to December 2021
This project was funded by the African Development Bank, and due to a funding disbursement deadline was completed in 4 months. Its main objective was to install Meridian, migrate the debt database from CS-DRMS and ensure that staff of the Ministry of Finance and Development Planning can use the new system to manage Liberia’s debt reporting needs. The project was underpinned by two skills transfer and capacity building workshops (each two weeks long) for 15 participants. Although the project was successfully completed, the short implementation period meant that the project recommended continued further capacity-building efforts in a second phase, including extending the database to cover domestic debt, reinforcing staff capacity of staff and strengthening MFDP IT infrastructure.
10 June - DFI and World Bank/IMF Renew Partnership on Debt Management Facility
DFI has renewed its partnership with the World Bank and IMF to implement the Debt Management Facility, which began in 2008. The DMF provides advisory services, training and peer-to-peer learning to more than 80 developing countries around the world to strengthen their debt management capacity, processes, and institutions. DFI participates in workshops and missions to support the implementation of the programme, on such issues as Debt Management Performance Assessments (DeMPA), Debt Sustainability Analysis, Medium-Term Debt Strategies, design of Debt Management Reform Plans, and development of domestic debt markets. Since 2008, DFI has participated in more than 73 missions and workshops. For more details, see the DMF website.
- 8 October – Commitment to Reducing Inequality Index 2020
- 10-13 décembre, Kigali - Un atelier de l'OIF sur la politique de la dette s’accord sur les besoins urgents de plaidoyer et de renforcement des capacités
- 3-4 décembre, La Haye - Réunion face à face DFI-Oxfam sur le ERI
- 19 novembre, Genève - DFI demande un meilleur allégement de la dette à la conférence de la CNUCED
