African Union takes debt and tax demands to Bangkok
The AU will run four side events at this week's IMF and World Bank meetings, on tax rules, cross-border payments, its own financial institutions and debt.
Taiwo Banjoko
Nairobi — The African Union will use this week's annual meetings of the International Monetary Fund and the World Bank to press for changes to the global financial system and a better way of resolving debt, Capital FM reports.
The meetings run from 12 to 18 October in Bangkok. The AU says it will host four side events between 13 and 16 October.
The four subjects
- International tax cooperation. The AU wants African governments to have a hand in writing global tax rules, which it sees as central to raising more revenue at home.
- The AU's own financial institutions. The events will cover getting those bodies up and running.
- Instant cross-border payments. The aim is to make it quicker and cheaper to move money between African markets, and so to support trade within the continent.
- Debt resolution. African countries are looking for ways to manage what they owe while still paying for infrastructure, public services and development.
In a statement, the AU said the discussions build on its existing work to reform what it calls the global financial architecture.
This report is based on reporting by Capital FM, via AllAfrica.
