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6 October - World Bank Must Adopt Coherent Policies to Help LICs Collect Tax

Thursday, 06 October 2016 00:00

Annual Meeting 2016Finance ministers from low-income Francophone countries met in Washington on 6th October 2016 to discuss financing for development with other Francophone countries. Under the aegis of the International Organisation of La Francophonie (OIF), DFI helped convene this meeting in the margins of the Annual Meetings of the IMF and the World Bank.

Chaired by Mr. Abdoul Aziz TALL, Minister in the Presidency for the Plan Senegal Emergent, and co-chaired by Mr. François Maurice Gervais RAKOTOARIMANANA, Minister of Finance and Budget of Madagascar; and Mr. Ousmane Alamine MEY, Minister of Finance of Cameroon, the meeting was an opportunity for LIC ministers to take stock of work in 2015-2016 among Francophone countries to analyse how to finance their development and on domestic resource mobilisation.

How to finance the SDGs was at the heart of discussions and ministers made a few recommendations to ensure enough resources are mobilised to finance their own national development strategies.

In a press conference, they called for (i) public finance to be a central investment resource; (ii) the reform of the global tax system in order to help them collect more tax; (iii) innovative finance to be used to combat climate change and (iv) for debt to be kept sustainable.

Conclusions are detailed in this ministerial communiqué and you can watch the video of the press briefing.

 

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