OECD

G20 Finance Ministers are expected to give the green light to a new round of negotiations on international tax reforms at a meeting in Fukuoka, Japan on 8 - 9 June 2019.

Cutting development aid costs lives, and it will exacerbate poverty, inequality and instability across the globe, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).

The failure of the OECD’s Development Assistance Committee’s to agree tough new rules governing aid invested in the private sector – so-called private sector instruments – was criticised by Oxfam and the European Network on Debt and Development (Eurodad) today.

The slight decrease in development aid spending in 2017 is bad news for the fight to end poverty and reduce inequalities, said Oxfam today in response to the publication of new aid figures by the Organisation for Economic Cooperation and Development (OECD).

At a meeting at the OECD in Paris on the future of development aid, governments of the world’s richest countries promoted the use of development aid to support private investment in poor countries, but failed to focus on the rules and safeguards needed to make sure it supports the people most in need.

Oxfam harshly criticized the United States, the United Arab Emirates, Panama and other countries for undermining a landmark global initiative to tackle corporate tax dodging unveiled today.

Rich countries are exaggerating how much they are spending to tackle poverty and inequality in poor countries.

The OECD's tax data shows that more and more governments are relying on taxes that fall hardest on the poorest in society while letting big business and wealthy individuals off the hook.

The DAC’s reform process offers an opportunity to develop rigorous and demanding criteria and standards to better regulate the use of aid in private sector investments. The following recommendations aim at ensuring the reform leads to a principled approach.