Confronting debt, climate change and poverty : global financial architecture reform and the fiscal space of developing countries

A workshop held on 19 March 2024 addressed issues affecting developing countries' economic situation, and how it is shaped by policies and global governance. Key subjects include the International Monetary Fund and its policies, taxes and sovereign debt. Several experts addressed different facets of the subject to answer questions for the Committee on Development (DEVE): What aspects of the current system are being criticised? What are the proposals for change? And what can the EU and the European Parliament do to advance the Sustainable Development Goals (SDGs)? This publication includes three of the four papers that were presented during the workshop. The first paper brings insights about policies with the potential to reduce poverty and inequality (SDG1 and SDG10). The second and third briefings (explanatory 'primers') clarify key elements of the public discussion: the concept of fiscal space of developing countries and the debate over IMF Special Drawing Rights. The fourth paper, published separately, provides a comprehensive analysis of the debate about the reform of the global financial architecture, including the International Monetary Fund (IMF) and the World Bank.