Category: Global Partnerships

NEW YORK (IDN | GIN) – Canada has joined the IMF, World Bank and several other countries in cutting aid to Mozambique over concerns about the country’s finances.

CTV News reported on May 9 that Mozambique had more than $1.3 billion in undeclared debts, which raised concerns among donors over its financial management. Fourteen donor agencies and countries, including the U.K., Portugal and Switzerland, are freezing a portion of their development assistance.

Canada’s high commissioner in Mozambique said on Twitter on May 9 that general budget support has been frozen – that’s aid that goes directly to Mozambique’s government. Development assistance provided to NGOs and multilateral organizations like the UN remains in place.

In the midst of freezing aid, banks that saw dollar signs in the developing economies of Africa are being blamed for a looming fiscal crash in Mozambique over so-called “tuna bonds”.

Emblematic of the easy lending by western banks, 24 fishing boats meant to be a modern tuna fleet are gathering rust in the port of Maputo.

Analysis by Jaya Ramachandran

PARIS | NEW YORK (IDN) – Revitalizing the global partnership is Goal 17 of the 2030 Agenda for Sustainable Development – adopted by world leaders in September 2015 at an historic Summit at the UN headquarters in New York.

It urges developed countries to implement fully their official development assistance (ODA) commitments, including the commitment to achieve the target of 0.7 per cent of the Gross National Income (GNI) given as ODA to developing countries and 0.15 to 0.20 per cent to least developed countries.

“ODA providers are encouraged to consider setting a target to provide at least 0.20 per cent of ODA/GNI to least developed countries,” says one of the Goal 17 targets endorsed by the world leaders.