Foreign direct investment (FDI) into 17 OECD countries, including France, Germany, Japan, the UK and the US, fell by 50% in the first quarter of 2009 compared with the last quarter of 2008, according to estimates by the OECD released at the OECD Forum in Paris.
France should do more to ease the transition of unskilled young people into employment. The government should give priority to helping young people the furthest removed from the job market and to strengthening the social protection of the most disadvantaged, according to a new report by the OECD.
Governments must urgently adapt their labour market policies to help their most vulnerable citizens in the economic crisis.
A crackdown on tax havens and cross-border tax evasion will help developing countries to raise more revenues to pay for much-needed schools, roads and hospitals, according to OECD Secretary-General Angel Gurría. In an article published on the OECD’s website ahead of the 2009 spring meetings in Washington of the World Bank Group and the International Monetary Fund, Mr. Gurría said improving the effectiveness of developing countries’
The OECD welcomed today the formal endorsement by Uruguay of its tax information exchange standards.
“Governments need to take quick and decisive action to avoid the financial crisis becoming a fully-blown social crisis with scarring effects on vulnerable workers and low income households,” OECD Secretary-General Angel Gurría told G8 Labour and Employment Ministers in Rome today.
Moves by a number of financial centres over recent weeks in favour of transparency and exchange of information on tax matters have given a welcome boost to efforts counter international tax evasion, OECD Secretary-General Angel Gurría said.
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.