Economic Justice for All
The world needs more just economic systems now
Already before the global Covid-19 crisis, the issues of debt management and increasing the mobilisation of domestic resources for development were areas that needed urgent action at the national, regional and global levels. The number of developing countries with unsustainable debt levels were alarmingly high, and illicit financial flows were continuing to drain countries of hundreds of billions of dollars in lost tax income every year. The interconnected health-, social- and economic crises unleashed by the Covid-19 pandemic have turned a critical situation even worse. Existing inequalities, including economic and gender inequalities, are being exacerbated, and those most in need stand the risk of suffering the hardest impacts. Lack of financing for development, including for essential public services and protection of human rights, is a central part of the problem. The most important and sustainable source of revenue, namely tax income, continues to be undermined by international tax dodging by multinational corporations and wealthy individuals.
This project provides a unique and extremely timely opportunity to reinforce the capacity, interconnectedness and active role of civil society organisations working on debt and tax justice in developing countries around the world. Through a joint, targeted international effort, the aim is to turn political promises on financing for development into action, and strengthen public accountability and good governance at the national, regional and global levels. In the context of the global state of world, struggle for a more just world for all has never been more urgent or more relevant.
Debt Justice
Increasing external debt is threatening people’s rights in a growing number of countries, particularly in the Global South. Already elevated external sovereign debt burdens before Covid-19 were exacerbated with additional borrowing during the pandemic. Increasing debt-servicing costs and the impacts of multiple crises are pushing a rising number of low and middle-income countries to the brink of default.
Tax Justice
The Tax Justice Network estimates that US$ 483 billion are lost to tax avoidance and evasion by multinational corporations and wealthy individuals globally each year. Illicit financial flows (IFFs) cause countries to lose large sums of resources, which is why fighting IFFs has become a key global priority.
Countries
Kenya
TJNA works in Kenya aims to bolster efforts to curb tax evasion, tax avoidance, tax competition, IFFs and other harmful tax policies and practices.
Ecuador
Ecuador is subject to a strong fiscal austerity plan supervised by multilateral organizations, with the IMF at the helm. In this context, the formulation of fiscal and financial policy has followed an approach focused on guarantees for public debt creditors and macroeconomic stability, which, however, has not managed to secure rights for the country’s population.
Peru
Peru has been in the lowest tax collection rank in the Latin American region, based on an unfair and regressive tax regime. Moreover, Illicit financial flows are a major problem, with amounts equivalent to about 4.5 per cent of GDP per year related to international trade only. On the other hand, the application of fiscal rules in Peru has been important in last years in reducing the debt burden on the Peruvian economy, but without integrating a human rights approach as human development was not improved.
Morocco
During the last two decades, Morocco has devoted an important share of its budget to boost investments, which has had positive effects on growth and transformed the country’s infrastructure. However, the generated wealth has been unfairly distributed among citizens and the level of inequalities (wealth and revenues) between the top 10% and the bottom 50% has been growing significantly.
Zambia
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Grenada
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Bangladesh
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Nepal
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Philippines
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Partners
Donors
This website was created and maintained with co-funding from the European Union, Norad and Brot für die Welt. Its contents are the sole responsibility of the partners involved in this project and do not necessarily reflect the views of the European Union, Norad and Brot für die Welt.
Related Websites
End Inequalities
Features the work of a project that aims to contribute to reducing inequalities both within and between countries, including the specific and extreme problems of economic and gender inequalities in Indonesia and the India, as well as the global inequalities caused or exacerbated by tax dodging and illicit financial flows.
Civil Society Financing for Development (FfD) Mechanism
An international network of organisations engaged in the UN process on Financing for Development. The group works together to promote democratic global economic governance that works in the interest of people and planet.