The world’s leading economies must act now to stop the price of basic foods from surging further out of the reach of poor people. They must also commit to a Financial Transaction Tax (FTT) to help millions of people hit by the economic crisis and climate change.
A broad coalition of NGOs, political organizations and trade unions today (7 September), called on EU Finance Ministers to recognize the merits of an European-wide Financial Transaction Tax (FTT), particularly as austerity measures begin to be felt throughout the EU.
The fact that the IMF is proposing that adaptation efforts are funded by grants rather than loans is positive. But this will only work if developed countries ensure the money is there to resource this vital assistance to vulnerable countries.