global South

The global debt crisis and the role of private creditors

Sharing responsibilities as well as benefits? The global debt crisis and the role of private creditors

The results of the G20 initiatives to relieve the debt of the Global South, which has been hard hit economically by the pandemic, are sobering. Many eligible countries are reluctant to enter into negotiations. They fear that debt relief will cut off their long-term access to private capital markets and cause them to lose the confidence of private investors. These concerns have been reinforced by creditors, especially from the private sector. And the G20? Despite its commitment to private sector participation in the Common Framework for Debt Treatments, it has so far not found the political will to make such participation mandatory. However, this would be a key step to shield debtor countries from uncooperative creditors and achieve substantial debt relief.

In the run-up to the joint meeting of G20 health and finance ministers this October we have invited international experts from academia, government, and financial institutions to discuss the following questions among others:

  • Is there empirical evidence that debt relief excludes countries from much-needed development finance?
  • On what grounds could the participation from the private sector in official debt relief initiatives, comparable to other creditors, be expected?
  • In what ways can the G20 compel private sector participation and equal burden-sharing?

Further event details will be forthcoming, but please stay apprised of updates here: https://ny.fes.de/

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com. For more information on the NGO Committee on Sustainable Development-New York, please visit ngocsd-ny.org.

UNCTAD Civil Society Forum

The hosting of UNCTAD 15 in October of 2021, by a Small Island Developing State (SIDS) offers a critical opportunity to ground the discussions in the present and future realities and prospects of the most vulnerable countries and their populations.

The theme of UNCTAD 15, From Inequality and Vulnerability to Prosperity for All, provides a platform to re-energize and refocus development efforts and commitments. It also presents a unique opportunity for member states to respond strategically by reinforcing the value of multilateralism and providing a renewed mandate for a strengthened UNCTAD.

This Civil Society Forum is intended to contribute to the transformative discourse that needs to take place to address some of the systemic and structural inequalities in the trade and development space. The Day 3 agenda includes:

Closing

14:45-15:00 (CEST) • 08:45–09:00 (AST)

Speakers:

  • Ms. Kozel Peters-Frazer, Caribbean Policy Development Centre and host country civil society coordinating organization
  • Ms. Arlette Verploegh, UNCTAD
  • Ms. Shantal Munro-Knight, Barbados UNCTAD15 Civil Society Forum Lead

Solidarity and system change are the only way forward to overcome the global economic, health, and human rights crisis: feminist perspectives from Asia and the Pacific

15:05–16:20 (CEST) • 09:05–10:20 (AST) | side event organized by Asia Pacific Forum on Women, Law and Development

Exploring the divide between the global north and south

15:05–16:20 (CEST) • 09:05–10:20 (AST) | side event organized by Tax Justice Network Africa

Sustainable solutions to debt crisis, the role of UNCTAD 

16:25–17:40 (CEST) • 10:25–11:40 (AST) | side event organized by the Global Policy Forum

How do we build a just recovery from the COVID crisis?

16:25–17:40 (CEST) • 10:25–11:40 (AST) | side event organized by Friends of the Earth International

Discussion on the Civil Society Declaration

17:40–19:40 (CEST) • 11:40–13:40 (AST) | The session will provide for discussion and confirmation of the Civil Society Declaration. The Caribbean Policy Development Centre is the host country civil society organization.

Access the sessions here: wtvglobal.6connex.eu/event/UNCTAD15-Barbados/login

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit congocsd.wordpress.com.

South-South Sharing of Experiences in Macro-Financial Policies for Structural Transformation

UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT

Meeting the 2030 Agenda and the Sustainable Development Goals (SDGs) is inextricably linked with the process of structural transformation. Macroeconomic and financial policies are a key area in which many developing countries face limitations in their capacity to effectively design, manage, coordinate, implement, and evaluate the policy levers of structural transformation. South-South sharing of experiences, including by drawing lessons from success stories such as China’s development strategy, can help to address this shortcoming and assist national capacity-building.

China’s successful development experience over the past 40 years has been based on a pragmatic, gradual and experimental approach to development. Many other developing countries adopted policy strategies that emphasize reducing state influence over key macroeconomic policy levers such as exchange rates and interest rates, combined with broad-based liberalization and privatization at the sectoral level. This latter approach did not result in structural transformation. As such, China’s experience may act as a reference point from which other developing countries can assess alternative economic policy options that are consistent with their own objectives for structural transformation and adapted to their own specific circumstances.

This webinar looks at macroeconomic and financial policies from a comparative cross-country perspective. It aims at fostering a better understanding of the key macroeconomic and financial policy challenges that developing countries face and the extent to which China’s development strategy, trajectory and dynamics can inform other countries’ macroeconomic and financial policy strategies.

Register here: us02web.zoom.us/webinar/register/WN_ryV6dH_4SsKEuaGb7o44tw

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org. For more information on the NGO Committee on Sustainable Development-Vienna, please visit ngocsdvienna.org. For more information on the NGO Committee on Sustainable Development-NY, please visit ngocsd-ny.org.

Reclaiming and Transforming Multilateralism: Towards a Peoples’ Multilateralism

Alongside the High-Level Political Forum 2021, ActionAid’s Youth Working Group will launch its popular education and advocacy series called “Reclaiming and Transforming Multilateralism: Towards a Peoples’ Multilateralism.” The report was authored by Diyana Yahaya, edited by Nancy Kachingwe, and commissioned by Katherine Robinson.

This series of primers are intended to raise awareness and increase participation amongst the youth movements and young human rights defenders, including young womxn and feminist activists, on the importance of multilateral spaces in safeguarding and expanding their rights, advancing social justice, defending democratic space, and fostering cooperation and solidarity between states as well as between peoples’. With a focus on global multilateral spaces and institutions, it explores the current state of multilateralism, attacks on and the corporate capture of multilateral spaces; and how we can reclaim and transform multilateralism in a way that puts human rights, environmental, social, and gender justice at its center.

Join this panel of feminists from across the Global South in reimagining a just future. Register here!

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CoNGO Notes: For more information on the NGO Committee on Social Development, please visit ngosocdev.org. For more information on the NGO Committee on Intergenerational Solidarity, please email the vice chair at susanne.seperson@gmail.com. For more information on the NGO Committee on the Status of Women-NY, please visit ngocsw.org. For more information on the NGO Committee on the Status of Women-Vienna, please visit ngocswvienna.org. For more information on the NGO Committee on the Status of Women-Geneva, please visit ngocsw-geneva.ch

Biden and Economic Imperialism | Biden y el imperialismo económico

Biden has been hailed as an antidote to Trump who will “restore America’s place in the world.” Centuries of US imperialism show he actually represents a continuation of neoliberal exploitation and settler colonialism.

A panel of American and global South activists will analyze Biden’s role in upholding US imperialism beyond the military, focusing on his economic policies–including around trade, investment, finance, climate, and food systems–which underpin US empire in profound ways.

Critically assessing the implications of Biden’s first 100 days, this event will engage participants around what’s at stake for our anti-imperialist activism.

We at Regions Refocus invite you to join us with your questions and thoughts, and we welcome messages at team@regionsrefocus.org.

Register here!

Panel:

US Dollar Hegemony and Special Drawing Rights | Hegemonía del dólar estadounidense y los derechos especiales de giro: Francisco Pérez (Center for Popular Economics, USA)

Biden’s Climate Plan and Green Imperialism | El Plan Climático de Biden y el Imperialismo Verde: Max Ajl (Observatory for Food Sovereignty and the Environment, Tunisia)

Agribusiness and US-India Trade Relations | Agronegocios y Relaciones Comerciales EE.UU.-India: Sagari Ramdas (Food Sovereignty Alliance, India)

Extractivism and the US-Mexico-Canada Agreement | El extractivismo y el Tratado entre México, Estados Unidos y Canadá: Manuel Pérez-Rocha (Institute for Policy Studies/ Mexican Action Network on Free Trade, Mexico)

COVID-19 Vaccine Justice | Justicia de Vacunas COVID-19: Salimah Valiani (Independent Researcher)

Moderator | Moderador: Camden Goetz (Regions Refocus, USA)

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CoNGO Notes: For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org.  For more information on the Decolonization Alliance, email lbautista@umcjustice.org. For more information on the NGO Committee on the Rights of Indigenous Peoples, please visit facebook.com/NGOCoRIP.

COVID-19 Response & Recovery Efforts in the Global South

On the occasion of the launch of Southern Voice’s COVID-19 Digital Knowledge Hub, we are convening a conversation focused on COVID-19 responses and recovery, as seen from the Global South. We will also take the opportunity to rally experts from the global community, particularly from New York and Geneva.

Register here: https://unfoundation.zoom.us/webinar/register/WN_J8M-KESHRsG3Mc8eIMsIDw?mc_cid=c522e0c192&mc_eid=5a0d18791c

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CoNGO Notes: For more information on the NGO Committee on Ageing-Geneva, please visit ageingcommitteegeneva.org.

[Webinar] Care & Labor Rights: Challenges from the Capitalist Pandemic

Save the Date, virtual meeting details TBA. Interested attendees are encouraged to check organizer websites or contact co-conveners in the meantime.

Care & Labor Rights: Challenges from the Capitalist Pandemic

This webinar by Development Alternatives with Women for a New Era (DAWN) and the Women’s Working Group on Financing for Development is part of a series of action-oriented dialogues on the macro agendas and the current crises: Macro Solutions for Women, the People and the Planet.

Wednesday, 29 July 2020 @ 9 am NY/ 10 am Montevideo/ 2 pm London/ 15 hrs Brussels/ 16 hrs Nairobi/ 20 hrs Bangkok

Speakers:

Corina Rodriguez, Executive Committee Member, DAWN

Shahra Razavi, Director, Social Protection Department, International Labour Organisation

Laura Alfers, Director, Social Protection Programme, Women in Informal Employment: Globalizing and Organizing (WIEGO)

Concept Note

The COVID-19 Pandemic has starkly exposed the multiple inequalities that are intertwined in the world of work. First, it has forcefully revealed something that feminists have been repeating for a long time: the role of care is central  to sustain life in our societies. In a context of a health crisis,  where “staying at home” is one of the main strategies to face the emergency, care arrangements  have become more complex while  sexual division of labor continues to weight on women. Furthermore, there is an added pressure in the form of forced teleworking, which leads to situations where the boundaries between paid work and unpaid care work become blurred, working conditions become precarious and rights are easily violated.

Secondly, those in the informal economy bear heavier burdens in this crisis. Not working and staying at home has meant losing jobs and  livelihoods for the majority of informal workers and their families. Physical distancing is difficult to apply to those working in public spaces, such as street or market vendors, paid domestic workers or others in manufacturing or retail trade. The majority of workers in the informal economy are having less access to income resulting in increasing poverty and plunging workers and households into more precarious living conditions. The dimensions of this crisis are severe: The International Labour Organisation (ILO) reported that informal workers in Asia and Latin America endured an income decline of 81 percent during the first month of lock-downs. The situation of migrant workers has been particularly affected, given the higher exposure to occupational health and safety risks, no appropriate protection, exclusion from social protection measures directed towards nationals, as well as the restriction of movement and the accelerated destruction of jobs.

The context has also exposed the weakness of social protection systems to deal with the situation, and in most cases the applied immediate public policy responses have been insufficient.

Third, in the current context, it is important to analyse those groups of workers that are exposed in a differentiated form. On the one side are those in “front-line” jobs: health workers, workers at essential retail shops, paid domestic workers. The “front-line” is a predominantly feminized “front-line” workforce. In tandem, workers in platform jobs, many of which have seen an increase in the demand for their services but also higher levels of exploitation of their working conditions.

While some countries and some working sectors are coping more successfully with the emergency situation, most, especially those countries in the Global South, face a more serious form of exploitation already imposed by the pre-existing global financial capitalist model.

Can the harshness of the exposure of deepening inequalities serve as a spark to ignite and accelerate processes of transformation towards a “new normal” that is indeed new and different from the old normality? What feminist strategies can we draw on to activate an agenda of transformation in the world of work that serves women, people and the planet? What new challenges do we face and how should we adapt our analysis, our advocacy, our activism? What space can we create so that the post-COVID-19 pandemic does not continue to be a capitalist pandemic?

This webinar aims at reflecting on these questions and will be organized with four 10-12 minutes presentations, followed by a session of Q&A.

Objectives

  • To draw key elements of the agenda of transformation in the world of work from a feminist perspective;
  • To Identify common strategies across movements working on informal economy, care and work with different groups and constituencies (migrants, domestic workers, grassroots women, rural women, women in health sector);
  • To map advocacy spaces and mechanisms within the UN that may be used to activate our agenda of transformation of the world of work;
  • Facilitate cross-movement building and solidarity among civil society groups and activists mobilizing for care, workers rights, gender equality.
DAWN is a network of feminist scholars, researchers and activists from the economic South working for economic and gender justice and sustainable and democratic development. DAWN promotes critical analysis on global issues (economic, social and political) affecting the livelihoods, living standards, rights and development prospects of women, especially poor and marginalized women, in regions of the South. DAWN seeks to support women’s mobilization within civil society to challenge inequitable social, economic and political relations at global, regional and national levels, and to advance feminist alternatives.

The Women’s Working Group on Financing for Development (WWG on FfD) is an alliance of women’s organizations and networks who advocate for the advancement of women’s human rights and gender equality in the Financing for Development related UN processes.

Co-Conveners:

Rosa Lizarde, Global Director, Feminist Task Force; rosa.lizarde@feministtaskforce.org  

Emilia Reyes, Program Director, Policies & Budgets for Equality & Sustainable Development, Gender Equity: Citizenship, Work & Family; emilia@equidad.org.mx

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CoNGO Notes: For more information on the NGO Committee on the Status of Women-Vienna, please visit ngocswvienna.org. For more information on the NGO Committee on the Status of Women-Geneva, please visit ngocsw-geneva.ch. For more information on the NGO Committee on the Status of Women-NY, please visit ngocsw.org. For more information on the NGO Committee on Financing for Development, please visit ngosonffd.org.