The Analytical Trust Fund (ATF) for sub-Saharan executive directors at the Bank and Fund will hold its inaugural steering committee meeting in Nairobi in September. A majority of donors (the UK, Sweden, France, Norway and the Netherlands have backed the ATF) have now made their financial contribution. The African Economic Research Consortium (AERC) won the contract to assist the two sub-Saharan Executive Directors with research to support them in their roles. The ATF is the only concrete result of calls to strengthen the voices of developing countries at the Boards of the IFIs made at the Monterrey financing for development conference in March 2002. Dr. Domininque Njinkeu has been chosen by the EDs to act as their adviser, lending technical expertise to the consideration of concept proposals and work received from the AERC, and bringing to their attention issues of relevance to development in Africa.
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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