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The agenda for action to tackle illicit financial flows has passed an important threshold. While the G-8 meeting which concluded today did not agree everything that had been hoped, there was tangible progress in two out of the three main areas.
International tax has continued to rise up the political agenda, and the crucial UK-hosted G-8 meeting is now approaching. We’ve updated our draft declaration that we would like to see from that summit, to reflect discussions that have taken place since then, and many valuable comments from a wide range of contributors.
With the Spice Girls back together, temporarily we must hope, for the closing ceremony of the Olympic Games, David Cameron could have been forgiven for making the most of the public’s desire to celebrate the success of the Olympics. Instead he risked being the party pooper, by convening a summit in Downing Street about hunger with Vice President Michel Temer of Brazil.
Just ahead of the G8 summit on May 19 at Camp David, a new report by the ONE Campaign highlights the opportunity to focus on real and sustained investments in African agriculture that could impact the lives of millions. The report includes very timely recommendations for the heads of the G-8 and other world leaders:
Early results from our global opinion survey on the selection system, criteria and candidates for the new head of the IMF are now available. If you haven’t yet taken the survey and do so now, you will get access to the results as of yesterday. Not surprisingly, there is overwhelming agreement that the selection system should be open, competitive and merit-based, without regard to nationality (more on that below).
I heartily applaud the release of the G-20 Principles for Innovative Financial Inclusion (click and scroll down to see them). At a time of increased focus on financial sector regulation to reduce risk, it is crucial that we not lose sight of the fact that increasing access to appropriate financial services remains essential to reducing poverty and achieving sustained growth.
Last week, the leaders of the Group of 8 pledged 20 billion dollars in agricultural aid, with the purpose of boosting agricultural productivity -- especially in Africa. But will $20 billion over a three-year period help to feed many of the 1.02 billion people on earth who suffer from food insecurity?