February 18, 2020
 
 
 



GSW

 

Annual Meetings 2018 Indonesia

Últimas noticias

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Pathfinders logoFollowing its participation at the Mexico City Grand Challenge meeting, DFI has been asked to lead the 2020-21 work Fiscal Compact to Fight Inequality Cluster of the Pathfinders Grand Challenge. This will involve writing and commissioning papers on success stories in progressive taxation, anti-inequality spending, and fighting inequality by fighting corruption, and coordinating inputs from a wide range of experts, governments and international organisations. The work will enrich DFI’s work on the CRII, allowing it to analyse in more detail the key success stories in government policies to fight inequality. The Grand Challenge will disseminate these success stories to other governments, encouraging the spread of similar policies across the world.

 
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RwandaSenior Officials of 12 OIF LICs and LMICs and 4 regional organisations, as well as representatives of Francophone parliamentarians and civil society organisations, held a workshop in Kigali during 10-13 December to discuss their countries’ debt problems and identify urgent advocacy and capacity-building steps to reduce them. The workshop was hosted by the Government of Rwanda, and facilitated by DFI and OIF, with inputs from Afrodad, Cleary Gottlieb, the Commonwealth Secretariat, Eurodad, the IMF, UNCTAD, and the World Bank.  The workshop identified the top priority needs of countries on designing debt policies and strategies; transparency and accountability; mobilising new external finance; domestic and regional market borrowing; and debt restructuring and renegotiation. These needs will be communicated to all participating organisations at a senior level to ensure Francophone countries benefit from the maximum assistance. Participants also agreed on a series of advocacy points about changes needed in the international system to help them avoid or resolve debt crisis, which will be discussed with global leaders during 2020.

 
 
 
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netherlands-flag-smallDFI and Oxfam met in the Hague to agree a three-year work programme for the Commitment to Reducing Inequality Index, to produce the deliverables needed under the Open Society Foundation grant and as part of their joint partnership. We discussed improving and broadening the methodology to compile and analyse the CRII; as well as key performance indicators at the global, regional and national level, and improvements in communications and fundraising efforts. The outcomes from the meeting will be compiled into a strategic plan early in 2020.

 
 
 
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UNCTADDFI presented on a panel on How to Do Debt Relief Better at the UNCTAD Debt Management conference in Geneva on 19 November. The presentation covered two key issues: why more debt relief is needed; and how to do it better than in the past. DFI urged that debt relief should build on the principles established by the HIPC initiative, but also: be based on SDG funding needs; comprehensively include all types of creditors (including bondholders, China, PPP funders and domestic creditors); and occur more rapidly and with less conditionality. To read the presentation, click here.

 
 
 
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OIFMinisters of Finance of OIF LICs and LMICs, meeting in Washington DC on 17 October under the joint chairmanship of Madagascar, Benin, and Rwanda, discussed their heavy debt burdens with senior officials of the IMF, World Bank, UNCTAD and Paris Club. In a subsequent press conference, they demanded urgent measures to prevent a widespread new debt crisis, including increasing flows of concessional funds, enhancing their capacity to design higher-return projects, increased transparency on lending terms by the international community, making more use of contingent loans and guarantees to reduce debt service costs, and reinstating a HIPC++ framework to provide coordinated, comprehensive and rapid debt relief to countries to help finance the SDGs. To read a copy of the communique click here.

 
 
 
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ComsecDFI presented a report to Commonwealth Finance Ministers and Senior Officials on 16 October in Washington. The report analysed recent trends in debt of all Commonwealth countries, concluded that there is an urgent need to take measures to reduce the debt burden of Commonwealth Low and Middle-Income Countries and Small Island Developing States, and outlined a series of measures which could be taken. To read the report, click here.

 
 
 
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DFI was asked by the Pathfinders Grand Challenge on Inequality and Exclusion to present to Ministers of member states and leaders of other organisations on the key political and economic success stories of making taxation more progressive in recent years. The presentation covered success stories in making tax systems more progressive, solidarity contributions, leveling the playing field for all companies and individuals, fair taxation of unearned income and of wealth, and combating tax dodging and evasion. To access the presentation click here.

 
 
 
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Meridian LogoA mission staffed by a DFI consultant visited Cameroon to assist the government in beginning the migration of its database from CS-DRMS to the new Meridian debt management system. The mission trained Caisse Autonome d’Amortissement staff in how to validate their database and remove any errors from it before migration. Cameroon has an extremely large and complex database so this process is expected to take up to six months, after which another mission will go to Cameroon to complete the validation and migrate the database.

 
 
 
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Meridian LogoA mission by a DFI consultant visited Nigeria to assist the government in upgrading their CS-DRMS system from version 1.3 to version 2.3, in reconciling data between the two system versions to make sure version 2.3 could run smoothly, in configuring the system to fit their hardware and software needs, and in training Debt Management Office staff in how to use the new version of the system. The mission also migrated various Nigeria-specific customised debt strategy and transparency reports to the new version 2.3.

 
 
 
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DFI presented at the Commonwealth Debt Forum in London, on The Changing Face of Financing and its implications for debt management. The presentation focused on the key new types of financing for low and middle-income countries: domestic debt markets; global bond markets; public-private partnerships; and new forms of less concessional South-South cooperation. It provided ideas on how mobilise the best examples of such financing; and how to restructure such financing in the event of a debt crisis. The presentation can be opened here. The rest of the conference covered natural disasters, transparency, contingent liabilities, and green and blue bonds, and provided the forum for launching the new Commonwealth Meridian debt management system of which DFI will be the sole distributor for non-Commonwealth countries. The conference can be found here.

 
 
 
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Norwegian Church Aid logo enDFI  icon presented the CRI with Oxfam, Norwegian Church Aid and the Fight Inequality Alliance in a series of Fight Inequality events in Oslo. These included a public campaigning event where Norwegians were urged to join the Fight Inequality campaign, a seminar at NORAD where the Commitment to Reducing Inequality Index (CRI) was discussed, and meetings with the Prime Minister and the Minister of Development.

 
 
 
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