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Picture Credit: World Bank General Analysis on Financing for Development
Also See GPF's Pages on:
Financing for Development
Articles and Documents
2008 |2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | Archived Articles
Social Watch Report 2006 - Impossible Architecture (2006)
In this annual Social Watch publication, NGOs from all over the world report from their individual countries on progress and government action on social development. In addition to 42 national reports, the publication contains thematic reports mainly looking at development financing, including debt relief, international aid, domestic resources and global taxes. Rather than providing any “particularly original or revolutionary” ideas, the report offers “common sense” responses arguing for example that “taxes should be paid by all, and that those who have more and earn more should pay more.”
"The Coffers are Not Empty" - a policy paper by James Paul (GPF) and Jens Martens (WEED) that seeks to outline the recent trends of financing for development and to formulate a few recommendations for further studies and activities of the UN.2008
Alternative Financing for Development (February 7, 2008)
In this presentation at a conference on global development finance, the author criticizes development aid as being “part of a system that generates deepening inequality and dependence across and within countries.” The author uses Venezuela as an example of a new and improved approach to development, where the Bolivarian Alternative for the Americas (ALBA) promotes regional integration and political cooperation to help member countries develop without becoming dependent on donors in the North. (Pambazuka)2007
World Bank to Study Offshore (September 12, 2007)
Responding to pressure from the Norwegian government, the World Bank has agreed to publish a report on offshore financial centers as part of the Bank’s anti-corruption work. Preceding the World Bank decision, the TaxJusticeNetwork and other NGOs had actively campaigned Norway and other members of the “Leading Group on Solidarity Levies to Fund Development” to address the problem of tax evasion and offshore centers. The NGOs pointed out that every year, countries loose “hundreds of billions of dollars” through tax evasion and rich countries bear “at least as much [of] the responsibility” as poor countries do. (TaxJusticeNetwork)AU Plans African Investment Bank to Fund Development (August 3, 2007)
The African Union plans to set up an African Investment Bank and is gathering support from African nations which will be the main subsidizers of this institution. Maxwell Mkwezalamba, the AU's Commissioner for Economic Affairs said that the continent requires US$250 billion in the next ten years to double its economy and trade by 2015 and lift thousands of people out of poverty. He also stated that rich countries have not lived up to their promises in terms of economic aid. (Reuters)Going Global for Good (July 9, 2007)
UN Secretary General Ban Ki-Moon argues that whereas the first stage of globalization benefited mainly rich countries, the second and current stage “the Age of Mobility” of people, also brings riches to the poor. In 2006, migrants sent US$264 billion – “triple all international aid combined” – in remittances to their home countries. Still, Ban argues, migration has so far mostly “benefited richer countries and generated worries about brain drain in poorer ones.” (Washington Times)Financing for Development: From Monterrey to Doha (March 14, 2007)
In this article, Global Policy Forum’s Jens Martens summarizes the events leading up to the 2008 Second Global Conference on Financing for Development. He further speculates on possible issues on the agenda, such as financing the Millennium Development Goals, reforming international aid, and introducing international “solidarity levies” for development. The challenge, however, will be for governments “to agree on new initiatives beyond the minimal consensus” of the first financing for development conference. (World Economy and Development)The Millennium Development Goals Report (2007)
This report marks the halfway point between the introduction of the Millennium Development Goals (MDGs) and their 2015 target date. The United Nations report shows that a few countries have made significant progress in some key areas. However, the world’s governments have a long way to go. The UN urges governments to exercise strong leadership and to scale up public investment to reach the goals. The UN also emphasizes that rich countries must make resources available to poor countries in a predictable way, allowing them to plan ahead to make the MDGs achievable.2006
Donor Backing Grows for Global Vaccinations Scheme (May 16, 2006)
Three more countries joined the eight-country coalition supporting the International Finance Facility for Immunizations (IFFIm). The financial securities of these governments allow the IFFIm to borrow money from the financial markets to increase funds for immunization and development of new vaccines. Although this initiative, launched by the Global Alliance for Vaccinations and Immunizations (GAVI), does not raise additional funds, it enables the organization to improve poor people’s health immediately. Nevertheless, NGOs raise concerns about future lack of funds, once GAVI has to repay the borrowed money. (Reuters)Innovative Sources of Finance after the Paris Conference (April 2006)
With France and Chile implementing air-ticket taxes in 2006, the Friedrich Ebert Foundation provides an overview of the Paris conference outcome. Apart from the air-ticket tax, the report also analyzes other initiatives to raise additional money for development. A group of rich countries will set up an International Finance Facility (IFF) to frontload aid for immunization. But, unlike taxes on currency trade and carbon emissions, the IFF initiative will not increase development funds in the long term, nor will it have any positive spill-over on the international financial system or the environment.UN Unveils Plan to Release Untapped Wealth of...$7 Trillion (And Solve the World's Problems at a Stroke) (January 30, 2006)
By attacking global challenges such as malnutrition, global warming and financial crises before they actually occur, political leaders could unlock US$ 7 trillion. A UN Development Programme (UNDP) proposal encourages governments to internationally implement six specific financial tools to raise resources for development, including investments in vaccines and trade of pollution permits.(Independent)In the Public Interest – Health, Education, and Water and Sanitation for All (2006)
This Oxfam and WaterAid report argues that public provision of health and education services play a most important role in ending global poverty. Poor country governments must commit to bigger and better investments in health and education. Rich countries, for their part, must support these initiatives and increase both quantity and quality of aid, fully cancel debt for all poor countries that need it and stop demanding budget cuts in and privatization of public services through the international financial institutions.2005
Investing in Development: A Practical Plan to Achieve the Millennium Development Goals (January 17, 2005)
This report from the UN Millennium Project lays out a comprehensive strategy for combating global poverty, hunger and disease. With an investment of just 0.5 % of their incomes, the industrialized countries can cut extreme poverty in half by 2015 – but they have to act right now.2004
The Vanishing Corporate Profits Tax (August 2004)
The global economy allows transnational corporations to minimize their tax obligations. As a result, states suffer diminished tax incomes leading to lower social expenditures. This article suggests two remedies; one within the nation state – the creation of a unitary tax - and the other through a new global tax jurisdiction, which would enable a global development fund. (Transnational Institute)2003
African Stock Exchanges Attractive For Investors, Experts Tell Wall Street (April 16, 2003)
The United Nations Development Programme (UNDP) is trying to convince Wall Street investment managers that trading on African stock exchanges not only benefits the region, it also makes financial sense. The UNDP released a handbook with comprehensive data and market information on all 18 African stock exchanges.2002
Not Just Aid, But Stronger International Coordination Needed to Defeat Poverty (September 28, 2002)
The UN asks the World Bank and the IMF to follow up on goals set at the Conference on Financing for Development in Monterrey, calling for an international framework “to mediate a stable, effective and adequate transfer of real resources to developing countries.” (United Nations)2001
Financing Development through Redistribution (September 2001)
This paper argues that only a global redistribution of wealth and power can create the conditions for poverty reduction, and proposes ways of financing development. More specifically, the authors call for debt cancellation, the introduction of a currency transaction tax and increasing official development assistance to 0.7 % of GNP. (CIDSE and Caritas Internationalis)2000
Developing Countries and the New Financial Architecture (November 30, 2000)
This report evaluates the international financial system from the perspective of developing countries. It discusses measures for prevention of international financial crises and makes proposals for improving the financial architecture. (Institute for Development Studies)
