Development Finance International

OIF Ministers meeting in Washington issued a strongly worded communiqué urging that the forthcoming Financial Transaction Tax be used to fund global development and the fight against climate change, and that as many G20 members and other countries as possible should adopt an FTT. They also made strong recommendations on debt workout procedures, and on the need to strengthen representation of low-income countries in the Financial Stability Board. To see the communiqué, click here. Elsewhere in the meetings, Argentina, Brazil, South Africa and the Gates Foundation also declared their support for an FTT, adding momentum to its forthcoming adoption.