A new IMF working paper on the New Partnership for Africa’s Development (NEPAD), calls the agreement “visionary”. The paper urges “the active selling of reforms”, saying that “efforts underway to establish national and regional communication centers are steps in the right direction.” The Fund’s response to NEPAD includes the HIPC debt-relief initiative, increasing work on transparency/accountability and intensified support for capacity building – highlighting the opening of the African Regional Technical Assistance Centre in Dar es Salaam. For their part, African governments will need to “use PRSPs to translate NEPAD’s framework into operational blueprints.”
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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