Limited fiscal space in many developing countries demands collective efforts and EU leadership to help improve their macro-economic conditions and attract more investments for a higher impact and sustainability for recovery from COVID-19.
On Thursday 29 of October at 16:00 pm (CET) we hosted a webinar event in cooperation with OECD on multilateral development finance in response to the COVID-19 crisis. The webinar investigated the dynamics of the Multilateral Development Finance framework in the wake of COVID-19, and made concrete recommendations on the most effective and impactful ways forward.
This paper looks at what development finance institutions (DFIs), including multilateral development banks, can do to support a gender-sensitive economic recovery from COVID-19.
COVID-19 has exacerbated factors influencing international support for peacebuilding, including a more volatile geopolitical order and changes in domestic priorities in donor countries. Peacebuilding and a conflict-sensitive approach have not yet been at the forefront of the international responses to COVID-19, undermining attempts to ‘build back better’ in a world where negative conflict dynamics are increasingly apparent.
Financial access in Africa has been on the rise in the last decade. It has a critical role to play in increasing the resilience of households and supporting their livelihoods. Maintaining this role is vital to tackle welfare and income losses stemming from the Covid-19-sparked economic crisis.
While the 2008/2009 global economic crisis had many negative consequences, one positive effect was that it massively accelerated international cooperation on tax matters. This is the kind of impetus that we also need for tackling the Covid-19 pandemic. The focus is not on generating more revenues, but rather primarily on achieving greater equity in the way that revenues are generated. This requires more public discussion of fair taxation. After all, the way that resources are mobilised and deployed to tackle the crisis will also have an impact on state legitimacy and social cohesion.