Online Event: 'Financing for Development: Global Economic Solutions Now!' at the Global People's Assembly

The Civil Society Financing for Development Group participated in the Global People's Assembly this past September 22, 2021 urging for a new global economic governance architecture that fosters systemic reforms while promoting human rights, gender equality, social equity and environmental justice.

At the 2021 FfD Forum, the world’s governments agreed to adopt an FfD outcome document filled with rhetoric and no action, sticking to business as usual in the midst of an unprecedented global crisis. National level decisions, while important, are insufficient to ensure the required policy and fiscal space needed for a decolonial, feminist and just transition for people and planet. We reject the problematic ‘private finance first’ attitude to development finance and rather unrealistic assumption that private finance will appear to fill the financing shortfalls. Instead, we call on governments to step up and demonstrate much-needed leadership in the following weeks within UN General Assembly (UNGA) to ensure progress on key systemic reforms on debt, illicit financial flows including tax dodging, trade etc. Governments should also agree on the next FfD conference at the UNGA, which could be in the form of an International Economic Reconstruction and Systemic Reform Summit, to work towards global consensus on a new global economic governance architecture that could foster systemic reforms while promoting human rights, gender equality, social equity and environmental justice.

The event featured presentations on upcoming civil society campaigns on global economic solutions to mobilize jointly around structural transformation. The time to act is NOW!

Speakers:

- Jason Braganza, Afrodad: Presentation of The Harare Declaration 2021

- Iolanda Fresnillo, Eurodad: Upcoming debt campaign actions

- Chenai Mukumba, Tax Justice Network-Africa: Campaign rejecting tax deal of G7/G20/OECD

-Luca De Fraia, ActionAid Italy: Integrated National Financing Frameworks (INFFs), aid effectiveness and critique of ‘private finance first’ approaches to development finance

- Patricia Miranda, Latindadd: Campaign on Special Drawing Rights (SDRs)

- Sanya Reid, Third World Network: Campaign on TRIPS waiver + ISDS moratorium

Moderator: Pooja Rangaprasad, Society for International Development (SID)

You can watch the full event here:

https://www.facebook.com/GlobalCalltoActionAgainstPoverty/videos/182416284022254/