Mr. Gurría underlined that business ethics should be at the center of any new road-map for the global economy. Markets should not only be more stable, but morally acceptable as well. He said that it is time to reunite ethics and economics through a solid, transparent and updated set of rules.
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Can 2009 bring a ray of light to lift the gloom and end the severest financial and economic crisis in decades? The OECD is working with the world’s governments and international organisations to stop recent market and policy failures from happening again.
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Israel has officially joined the OECD Working Group on Bribery, an important step in its accession to OECD membership. Israel becomes the 38th signatory and first Middle-Eastern country to join the OECD’s Anti-Bribery Convention.
Official Development Assistance (ODA) is rising, but only slowly. In 2007, the DAC members’ total net ODA was USD 103.5 billion, representing a real increase of 2% over 2006. This iswell below the rate of growth needed to meet the commitments made by DAC donor countries.
OECD will support the global concerted effort to re-launch the world economy with analysis and recommendations for more effective regulation and policies for a return to sustainable growth.
OECD is preparing a two-pillar action plan for governments, as part of a global response to the world financial crisis, calling for tighter regulation and oversight of financial markets and improved national policies to promote economic growth.
Some 16 new bilateral agreements on exchange of information for tax purposes signed this week between OECD countries and the British Virgin Islands, Guernsey and Jersey mark an important step forward in efforts to bring greater transparency to cross-border financial transactions.
Fiscal policy, says the latest Latin American Economic Outlook (LEO 2009) from the OECD’s Development Centre, can be a powerful tool for economic, political and social development in Latin America if taxes are raised efficiently and fairly.