FTC Speaks at World Bank-IMF Civil Society Policy Forum

March 26th, 2021

One of the biggest questions facing governments and civil society organizations over the past year has been clear: Has the financial response to the COVID-19 pandemic been fair and equitable, or has it exacerbated existing fault-lines?

Earlier this week, the FTC joined coalition members like Christian Aid and Tax Justice Network Africa, as well as a number of others, to co-host a panel at the World Bank-IMF Civil Society Policy Forum on just this topic. The high-level panel discussion (which can be watched in its entirety here) ranged wide, touching on regions around the world, and revealing some of the main findings of the FTC’s forthcoming Covid Bailout Tracker. But one thing became clear: Pandemic recovery packages, like loans and stimulus packages, have increasingly exacerbated existing class, gender, and other divisions, mostly benefitting large corporations instead of the poor or small- and medium-sized business enterprises

FTC will be sharing further details on the topic in our forthcoming Covid Bailout Tracker, which will be launched in April, but below are a series of clips from our successful panel highlighting some of the topline findings—and why a #PeoplesRecovery is needed now more than ever.

    1. Ruud de Mooij (Advisor for Fiscal Affairs Department, IMF) on broader fiscal impacts and trends:

    2. Chenai Mukumba (Policy Research and Advocacy Manager, Tax Justice Network Africa) on the fiscal impacts in Kenya and Sierra Leone, and the differences in the formal and informal economies:

    3. Isobel Frye (Director, Studies in Poverty and Inequality) on fiscal impacts during the pandemic on vulnerable South African populations, including women and younger citizens:

    4. Ricardo Barrientos (Senior Economist, ICEFI – Central American Fiscal Studies Institute) on the fiscal responses, tax policies, and effects on vulnerable populations in Central America:

    5. Towfiq Islam Khan (Senior Research Fellow, Centre for Policy Dialogue – Bangladesh) on fiscal response to the pandemic in Bangladesh, including governmental capacity, and affects on existing inequality:

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