Australia delivered USD 5.44 billion in official development assistance (ODA) last year, or 0.36% of its gross national income. It is the eighth most generous country in the OECD’s Development Assistance Committee (DAC), which groups the world’s major donors. Australia’s goal is to reach 0.5% of GNI by 2017 – a goal the DAC encourages it to follow through on, given its good track record and relatively strong economy.
Development aid fell by 4% in real terms in 2012, following a 2% fall in 2011. The continuing financial crisis and euro zone turmoil has led several governments to tighten their budgets, which has had a direct impact on aid to poor countries. There is also a noticeable shift in aid away from the poorest countries and towards middle-income countries. A moderate recovery in aid levels is expected in 2013.
An aid recipient less than two decades ago, Korea is now a donor and sharing its experience of how to use development co-operation as a catalyst to promote long-term sustainable growth in other countries.
Development ministers from OECD and emerging economies met in London 4 - 5 December for the High Level Meeting of the OECD’s Development Assistance Committee(DAC).
Luxembourg allocated 0.97% of its gross national income, or USD 413 million, to official development assistance in 2011.“Luxembourg is the Development Assistance Committee’ s third most generous donor as a portion of its economy – after Sweden and Norway – and it has a high quality programme” says Brian Atwood, Chair of the DAC. “We commend Luxembourg’s commitment to keeping its ODA at 1% of GNI until 2014”.
Latin American governments must act now to strengthen growth and development and counter these risks, according to the 2013 Latin American Economic Outlook, jointly produced by the OECD Development Centre and ECLAC.
Tax revenues in Latin American countries are lower as a proportion of their national incomes than in most OECD countries, but are rising slowly. Revenue Statistics in Latin America shows that the average tax revenue to GDP ratio in the 15 Latin American countries covered by the report increased from 19% in 2009 to 19.4% in 2010, after falling from a high point of 19.7% in 2008.
Finland is making efforts to improve its development co-operation, sharpening the focus of its efforts and emphasising the importance of human rights.
The OECD and the African Tax Administration Forum (ATAF) have signed a Memorandum of Co-operation, agreeing to work together to improve tax systems in Africa.
The International Economic Forum on Africa - organised by the OECD Development Centre, in collaboration with the African Development Bank, the UN Economic Commission for Africa, the UN Development Programme, and the French Ministry of Economy and Finance. This year, the Forum will focus on African youth: training, employment and prospects for the future.