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Articles, Economic justice, Sustainable development, social justice and sustainable peace

Financing for Sustainable Development Report 2021: The yawning gap between development finance needs and political ambition

By Bodo Ellmers
In the lead-up to the UN’s Financing for Development Forum that takes place virtually from April 12-15, the 2021 edition of the Financing for Sustainable Development Report has been released. The report is published by the so-called Inter-Agency Task Force (IATF), which comprises numerous UN entities, but also the International Monetary Fund, the World Bank and the World Trade Organization. It is widely considered the most comprehensive source of data and analysis on development finance topics.Read more

Articles, Economic justice, People-centered Multilateralism

Financing Sustainable Development in the Era of Covid-19 and Beyond

By Bodo Ellmers
In the early days of the COVID-19 pandemic, the United Nations (UN) estimated that developing countries needed an extra US$ 2.5 trillion in external finance to cope with the consequences of the crisis. This vast sum is needed because additional spending needs – for example on health services and social protection – coincide with a simultaneous collapse of all traditional sources of development finance: tax revenue, export earnings, migrant remittances, foreign direct investment and, to a lesser extent, also official development assistance (ODA). Read more

Economic justice, People-centered Multilateralism, Publications

Options for Strengthening Global Tax Governance

by Wolfgang Obenland

The importance of global cooperation on tax issues is becoming more and more evident. The sums lost amount to hundreds of billions annually. While steps to curb the losses are underway, gaps in global tax governance remain both in the institutional setting and with regard to substantive issues. For example, there is still no body with universal membership that could discuss issues that are of particular importance to countries in the Global South. In order to fill these gaps, either existing institutions need to be further developed, or new ones established, or both. In any case, a new body would have to perform certain functions and meet particular criteria with regard to composition. A new paper formulates options for achieving this. Read more …

Articles, Economic justice

Frozen in diplomacy

By Jens Martens, Global Policy Forum

The debt crisis in Greece dominates the news in Europe but a significant related event lacks public attention – the 3rd International Conference on Financing for Development (FFD3). This is being held in Ethiopia from 13 to 16 July and is designed to come up with proposals on how to shape international financial relations more equally and to finance efforts to advance sustainable development. FFD3 deals with vital issues such as the mobilization of domestic resources and reform of tax policies, the role of private finance, debt and debt sustainability, trade, and reforms in the international financial system. Read more…

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