IMF and World Bank annual meetings 2023

October 27, 2023

The IMF/World Bank annual meetings were held from 9 to 15 October 2023. Improving Tax Capacity in Developing Countries On 15 October 2023, a fiscal forum was held on improving tax capacity in developing countries. The address by Katherine Baer

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G20 Leaders’ Declaration

September 10, 2023

The Declaration issued by the G20 leaders at their meeting on 9 and 10 September 2023 included the following points: Global Economic Situation The Declaration noted the recent global crises that have posed challenges to long-term growth and

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ASEAN Requests a Review of the Global Minimum Tax

August 27, 2023

On 19 August 2023, at the ASEAN Economic Ministers' meeting, the Chair of the ASEAN Investment Area (AIA) Council called for a review of the global minimum tax that is being implemented under Pillar Two of the OECD two-pillar international tax

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OECD: Mitigating the Risks of Illicit Financial Flows in Oil Commodity Trading

August 09, 2023

On 8 August 2023 the OECD issued policy guidance for policymakers and practitioners on managing the problem of Illicit Financial Flows (IFFs) in oil commodity trading. The Policy Guidance on Mitigating the Risks of Illicit Financial Flows in Oil

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WTO: World Trade Statistical Review 2023

August 06, 2023

On 31 July 2023 the WTO published the World Trade Statistical Review 2023. The report looks at the patterns of world trade in 2022 and gives some insights into the outlook for 2023. The regularly updated statistics on world trade provide a

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WTO Trade Policy Review of EU

June 07, 2023

The WTO is reviewing the trade policies and practices of the EU on 5 and 7 June 2023. The WTO Secretariat has produced a report as a basis for the review. During the period under review the EU made progress on major policy initiatives including

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WTO: Strengthening LDC economies

June 02, 2023

On 31 May 2023 the WTO member states discussed a number of initiatives that aim to strengthening the economic output of less developed countries. The meeting of the Sub-Committee on Least-Developed Countries (LDCs) heard from Angola, Rwanda and

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IMF: International Organizations Launch Joint Subsidy Platform

May 25, 2023

On 25 May 2023 a new Joint Subsidy Platform was launched by the IMF, OECD, World Bank, and WTO. The platform at www.subsidydata.org aims to facilitate dialogue on subsidies by providing easier access to information on the nature and size of

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WTO: Building on Research for Better Trade Outcomes

May 18, 2023

A WTO blog by the Deputy Director General (DDG) Anabel Gonzalez published on 16 May 2023 noted that decisions on allocation of political and economic resources must be based on sound research and analysis. Currently it is difficult to implement

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IMF: Economic Growth in Sub-Saharan Africa Vulnerable to Geopolitical Tensions

May 03, 2023

An IMF country focus published on 1 May 2023 noted that if geopolitical tensions continue to escalate, sub-Saharan Africa could experience an economic decline of up to 4% of real GDP after ten years. This estimate is based on a scenario where the

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WTO: Lessons learned from the pandemic

November 26, 2022

On 21 November 2022 the WTO’s Committee on Market Access held the fifth of a series of experience-sharing sessions on trade in goods related to the pandemic. The session looked at the main lessons learned from the pandemic and was preceded by a

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UK: Talks on Free Trade Agreement with the Gulf Cooperation Council

August 24, 2022

On 22 August 2022, UK and Gulf Cooperation Council (GCC) negotiating teams met for the first round of negotiations on a free trade agreement. The talks are expected to continue for around two weeks and cover all areas of the FTA focusing on the main

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UK: Negotiations for Free Trade Agreement with India

August 23, 2022

Following the conclusion of a fifth round of talks between India and the UK on a free trade agreement (FTA), a factsheet was issued by the UK’s Department of International Trade on 19 August 2022. The fifth round of negotiations involved

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WTO: Latest Issue of World Tariff Profiles

August 08, 2022

On 29 July 2022 the World Trade Organization (WTO) issued the latest edition of its annual publication World Tariff Profiles. The publication sets out global tariff and non-tariff information on more than 170 countries and is issued in

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IMF Report Looks at the US Economic Situation

July 14, 2022

On 12 July 2022 the IMF published a report following consultations with the US under Article IV of the IMF’s articles of agreement. The US has recovered quickly from the economic shock caused by the pandemic although the recovery of demand,

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WTO: Role of Trade in Achieving SDGs

June 11, 2022

On 8 June 2022 the World Trade Organisation (WTO) submitted a report to the UN’s High-level Political Forum (HLPF) on Sustainable Development. The WTO contribution to the 2022 UN High-Level Political Forum considers the role of trade in

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WTO: International Trade Cooperation to Strengthen Preparation for Future Pandemics

June 04, 2022

On 3 June 2022 the World Bank and the WTO launched a document entitled: Trade Therapy: Deepening Cooperation to Strengthen Pandemic Defenses. The publication notes that trade has an important role to play in the response to health crises such as

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WTO: Trade Policy Review of New Zealand

June 01, 2022

On 1 and 3 June 2022 the WTO is carrying out a trade policy review of New Zealand. A report has been issued by the WTO Secretariat as a basis for the review. The report notes that New Zealand considers trade as very important for its prosperity.

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