A small committee has been set up to investigate whether to reform the IMF‘s formula for allocating votes between countries on its Board. The quota formula includes items which are subjective and are biased against developing countries which want to see more weight given to national income and population. The committee will report to the Board this summer.
The IMF and the World Bank are increasingly engaged with the challenge of addressing how tax avoidance and evasion affect developing countries, but need to address the role played by multinational enterprises and tax havens in exacerbating inequality and undermining countries’ domestic revenues.
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