The history of aid shows an inverse relationship between aid on the one hand and the policy space and the level of economic growth of recipient governments on the other. That is, when aid levels rise, there are more policy conditions imposed on recipient governments by donors, which reduces "policy space" or the autonomy of governments to design policies and respond to the policy priorities of citizens.
Europe must take its responsibility to implement a Financial Transaction Tax
(2 February 2010, Brussels) The European Federation of Public Services Unions (EPSU) is highly disappointed by the decision taken by the European Parliament Economic and Financial Affairs Committee (ECON) yesterday, 1 February, rejecting the compromise amendment that the majority of political groups had agreed to start to implement a Financial Transaction Tax (FTT) in Europe.
Social Protection is back on the international agenda. In the past decades, poverty reduction became a priority for development policies and development cooperation. It should be reminded that the early development discourse of the 1950s and 1960s never was about ‘poverty’ but in the very first instance about economic development. As for social development, the UN Declaration on social progress of 1969 clearly shows that the ultimate goal of development thinkers was a kind of welfare state similar to the ones of rich countries.
This is not a feel-good book. Georges Corm (GC) is an 'old-fashioned' economist who has spent a great amount of time working as a consultant. He also did some teaching and served as a minister of Finance in his native Lebanon. While drawing on these experiences, the argument in this book is not a 'technical' one; it is readable and aims at taking stock of the neoliberal turn and the shortcomings of its opponents.
The French, German and UK governments remain serious about securing some form of further tax on the financial sector in 2011. The French are linking this clearly to financing development and climate change as the most important development priority for their G8 and G20 presidencies. President Sarkozy is likely to reiterate this commitment at a press conference on January 24th, at Davos on the 27th, and in a speech to the AU on the 30th. Although by no means a done deal, this remains the most important opportunity for financing for development in 2011 and the strongest chance we have to reverse declining aid levels.
Wealth Inequality is a serious challenge, says IMF's Min Zhu in Davos.
On January 26 the World Economic Forum will start in Davos, two weeks ahead of its 'social counterpart' which will take place in Dakar, Senegal from 6 to 11 February.
In Davos four major points will be discussed:
- the new reality
- the economic outlook and inclusive growth
- the G20 Agenda
- a risk response network
With global unemployment at record highs for the third straight year since the start of the economic crisis, the ILO survey warns that weak recovery in jobs is likely to continue in 2011, especially in developed economies. Youth employment should become a global priority.
In his press conference on January 24, President Sarkozy presented his programme for France's chairmanship of the G20 this year. He once again pleaded in favor of a financial transaction tax and said he wants to introduce a capital flows code. He also wants to curb the specualtion on food prices and commodities.
Following a recent media report of misuse of Global Fund grants, the Global Fund is issuing the following statement:
The Global Fund has zero tolerance for corruption and actively seeks to uncover any evidence of misuse of its funds. It deploys some of the most rigorous procedures to detect fraud and fight corruption of any organization financing development.
The vast majority of funds disbursed by the Global Fund is untainted by corruption and is delivering dramatic results in the fight against the three diseases.
“Transparency is a guiding principle behind the work of the Global Fund and we expect to be held to the highest standards of accountability,” said Prof. Michel Kazatchkine, Executive Director of the Global Fund.
The news report that has caused concerns refers to well-known incidents that have been reported by the Global Fund and acted on last year. There are no new revelations in yesterday’s media reports.
According to Global Financial Integrity, problems of fraud and/or corruption have been discovered at the Global Fund, a financing mechanism for health problems in the third world. The problems were discovered by its own services of the inspector-general.
The Global Fund has been a darling of the world's most important philanthropists, like the Bill & Melinda Gates Foundation, Bono and Carla Bruni. It had an excellent reputation, as well for its results as for its way of working in the fight against aids, malaria and tbc.