Last week, the IMF approved the creation of the Resilience and Sustainability Trust (RST), which aims to channel up to $45 of the $650 billion of SDRs allocated by the IMF in August 2021. A new brief by Eurodad argues that the RST is an imperfect attempt to remedy the inequitable way in which SDRs have been distributed and takes stock of the limits and opportunities of rechannelling SDRs outside the IMF. In a joint CSOs letter, we also urged the IMF and the G20, to both allocate an additional US$2.5 trillion in SDRs and take several steps to reform the current and proposed systems for rechanneling them.

Read Eurodad’s report

Forty years years ago, the Palme Commission’s groundbreaking report, Common Security: a Programme for Disarmament, helped inspire Gorbachev and Reagan to negotiate an end the Cold War.

The high-level advisory commission for Common Security 2022 revisited the premise that “international security must rest on a commitment to joint survival rather than a threat of mutual destruction” in a current geopolitical context.

The report urges world leaders to return to the path of disarmament and peaceful progress and cooperate to overcome contemporary security risks and causes of conflict, especially climate change and global warming, inequality, current and future pandemics, and authoritarian regimes shrinking democratic space.

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The Business Enabling Environment Project is nothing but a rebranding of the discredited and ineffective Doing Business report and rankings.

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Many approaches to global cooperation leave less economically developed countries reliant on the goodwill of more developed ones. Global Public Investment (GPI) is a new approach that aims to diversify decision-making and create mutual responsibility for how international public finance for sustainable development is mobilised and allocated.

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This was the first time since the pandemic that the Patriotic Millionaires had assembled together in person. The group, founded in 2010, is made up of high net worth individuals who believe – counterintuitively these days – that the really rich should pay more taxes. And after a dozen often frustrating years some of them now believe change is coming.

Read the article from The Guardian

An excellent book review of the World Bank’s ‘new’ perspective on ‘targeting’…

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The new Biden tax proposal would apply to Americans worth over $100 million. These wealthy — essentially America’s richest 0.01 percent — would be expected to pay an annual tax of at least 20 percent on their taxable income. But included in that taxable income would be any increase in the value of liquid assets — stocks and bonds, for instance — that top 0.01 percenters might own.

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From Progressive International:

The war in Ukraine, along with sanctions imposed by the United States and Western
countries against Russia, have caused global food, fertiliser, and fuel prices to ‘skyrocket’
and endanger the world food supply. This conflict is exacerbating the existing crisis of
global hunger and imperils the living standards and well-being of billions of people –
particularly in the Global South.

Read the article by Vijay Prashad