The World Bank and the International Monetary Fund (IMF) have said they would establish an initiative to help developing nations strengthen their tax systems ahead of the Financing for Development conference scheduled for Ethiopia.
According to a recent joint statement carried by their official websites, the two bodies vowed to deepen the dialogue with developing nations on international tax issues with an aim to help increase their weight.
They also said they wanted their voices to be heard in the international debate on tax rules and cooperation. The two international financial institutions also planned to develop diagnostic tools to help member countries evaluate and strengthen their tax policies.
During the gathering scheduled for Monday to Thursday, heads of state and multilateral institutions and representatives from private sector would discuss how to scale up financial strengths to meet the Sustainable Development Goals.
Chinese Finance Minister, Lou Jiwei, is expected to represent President Xi Jinping at the event.
