Finance for Development

Renewed demands by the G77 for a UN-led body to stamp out tax havens were lauded by Oxfam today.  G77 Ministers, who met on the side-lines of the UN General Assembly in New York, re-launched their proposal for a UN-led tax body, which was blocked at a UN meeting to discuss finance for development in Addis Ababa last year.

ONE and Oxfam welcome that the highest amount of funding ever has been allocated to refugees and development programs in the European Union's 2016 budget.

The European Court of Auditors' long-overdue report finally evaluates an important financing mechanism for development, but takes a purely financial perspective instead of looking at results delivered for beneficiaries.

Unresolved rigged tax rules and privatized development are the major drawbacks of the UN Financing for Development Conference outcome, says Oxfam.

The political will that delivered the Millennium Development Goals is absent from today’s development debate, yet even bolder political leadership is needed if we are to achieve the new Sustainable Development Goals.

This G7 finance meeting has again been a debate among exclusive club members without the equal participation of developing countries. It’s no wonder that tax issues relevant to poor countries were not addressed.