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The European Union is a major player in global development, co-ordinating coherent actions amongst its 27 member states and providing direct support to developing countries.
Small and medium-sized businesses (SMEs) requesting loans between 2007 and 2010 faced higher interest rates than for large companies. Loan conditions for SMEs included shortened maturities and increased demands for collateral, suggesting that banks considered smaller firms to be a higher risk.
Ministers from Financial Action Task Force (FATF) member countries will meet in Washington DC on 20 April to extend the FATF mandate for another 8 years, continuing to safeguard the integrity of the international financial system.
The economic crisis has led to a surge in government deficits and pushed public indebtedness to 100% of GDP for the OECD as a whole in 2011. New research shows that bringing debt down to prudent levels will require sustained fiscal consolidation in most OECD countries.
Composite leading indicators (CLIs) continue to point to a positive change in momentum in the OECD as a whole but with some divergence between major economies.
Middle Eastern and North African countries should reform the governance of their state-owned enterprises to bring about greater public accountability and improve their efficiency, according to a new OECD report.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has just completed peer reviews of 11 jurisdictions. This brings to 70 the number of peer review reports completed since March 2010.
To reduce corruption and restore confidence in public institutions in the wake of the Arab Spring, governments in the Middle East and North Africa should improve the management and oversight of state-owned enterprises, which often play a major role in their economies.
Major donors’ aid to developing countries fell by nearly 3% in 2011, breaking a long trend of annual increases. Disregarding years of exceptional debt relief, this was the first drop since 1997.
OECD Secretary-General Angel Gurría has welcomed the measures announced by Eurogroup finance ministers meeting in Copenhagen to protect the euro area economies.