World

UN Conference in Ethiopia Calls for Global Finance Reform

U.N. Secretary-General Ban Ki-moon gestures during a press conference at the United Nations headquarters in Geneva, Switzerland Friday, Dec. 12, 2008. Ban says the latest "very sobering" assessment of the World Bank underscores the world's economic problems. The world should act with great urgency and compassion to ease economic distress. (AP Photo/Anja Niedringhaus)
U.N. Secretary-General Ban Ki-moon gestures during a press conference at the United Nations headquarters in Geneva, Switzerland Friday, Dec. 12, 2008. (AP Photo/Anja Niedringhaus)

ADDIS ABABA, Ethiopia (AP) — A U.N. conference has agreed to reform global finance to spur development and to channel funds to fight worldwide poverty.

The agreement reached in Ethiopia late Wednesday by the third International Financing for Development Conference to finance development projects is to be adopted by world leaders in September.

The conference agreed on 17 development goals including ending hunger and poverty, gender equality, tackling climate change and improving education.

“This agreement is a critical step forward in building a sustainable future for all. It provides a global framework for financing sustainable development,” said U.N. Secretary General Ban Ki-moon. “The results here in Addis Ababa give us the foundation of a revitalized global partnership for sustainable development that will leave no one behind.”

But some aid groups say they are disappointed over the failure of the conference to create a U.N. global tax body.

ActionAid said that developing countries lose billions of dollars a year to tax dodging and are not being given an equal say in fixing unjust global tax rules. It said the lost money could be used by governments to provide basic services.

“The decision is an appalling failure and a great blow to the fight against poverty and injustice,” the group said.

The aid group Oxfam International said it regretted “unresolved rigged tax rules,” adding that developing countries’ call for true global tax reform and tax cooperation should not be ignored.

“Developing countries held firm in Addis on the need to set up an intergovernmental tax body that would give them an equal say in how the global rules on taxation are designed,” said Winnie Byanyima, head of Oxfam International. “Instead they are returning home with a weak compromise meaning rigged rules and tax avoidance will continue to rob the world’s poorest people.”

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker