Report of a side event at FfD4, South Centre
Tag: finance (page 1 of 2)
Blueprint for EU budget threatens Europe’s role in global development
Blueprint for EU budget threatens Europe’s role in global development – Eurodad
Colonial histories of plunder and appropriation have under-developed the Global South, and ongoing imperialism in the global financial architecture has ensured that this under-development remains.
Structural Pillars of Financial Imperialism – A Publication by Regions Refocus.pdf – Google Drive
Aid agencies across Europe and North America are seeing their budgets slashed. Replenishments to multilateral agencies from the International Development Association (IDA) through Gavi to the Global Fund are under threat. The countries most at risk are those most reliant on foreign assistance to fund investments in areas from infrastructure through health and education: the least developed countries where aid has traditionally accounted for more than six percent of GNI but (even before the recent cuts) that has dropped closer to four percent.
Today we live in a world that is facing a precarious future, torn apart by inequality, conflicts and a deep ecological crisis. The changes in governments in 2024 – the biggest election year in history – gave little hope for the action needed to address these existential issues. The pendulum seems set to continue its swing to the right in 2025. Everybody is holding their breath when it comes to the foreign policy of the new US administration and how this will impact global affairs, as geopolitical divisions are likely to be accentuated. The global climate and economic justice agenda also stands to be affected by this.
FfD4: A beacon of hope for international financial architecture reform in 2025 – Eurodad
The international financial architecture is in urgent need of reform. In the words of UN Secretary-General António Guterres, it is “outdated, dysfunctional and unjust”. The main institutions were created 80 years ago in a transatlantic agreement, at a time when many of the world’s nation-states of today were still colonies. Moreover, the institutions have failed in their mission to prevent and mitigate crises and to mobilize sufficient financing for internationally agreed development goals.
Reimagining the International Financial Architecture | Global Policy Forum
Western financial policies have been squeezing economies worldwide. After being urged to borrow commercial finance heavily, developing countries now struggle with contractionary Western monetary policies.
Western Finance Ruining Economies of the Rest | Inter Press Service
How the crypto industry shapes democracy … worse than mafia practices of the past
The International Monetary Fund (IMF) and the World Bank recently held their annual spring meetings, which, according to the organisers, produced a “strong message of confidence and a willingness to cooperate.” But lofty rhetoric and good intentions will not be enough to create a truly inclusive and sustainable economy fit for the twenty-first century. For that, deep structural change is needed.
Article by Mariana Mazzucati
Mariana Mazzucato:
The UN has warned that ‘humanity’s very survival’ is threatened. Radical reform of international finance is required.
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