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Opinions of the Financing for Development conference in Addis Ababa

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Mixed opinions are being expressed about the third Financing for Development conference results.

On the bright side, Bill Gates says : “The Addis Ababa financing for development conference and the UN’s action two months from now on the SDGs are important steps in moving us closer to a world free of extreme poverty, hunger, and disease.”

Nevertheless, some of the opinions of what happened in the Financing for Development conference in Addis Ababa Ababa that took place between the 13th and 16th of July, point out to a more negativistic view, saying that no significant measures were taken in the outcome document, like the editor of AllAfrica suggests.

African countries are among the worst victims of tax and trade illicit flows, having  $50 to $60 billion outflow capital due to financial fraud, according to AfricaFocus Bulletins, slipping out of their borders more money illicitly than what enters as development aid and FDI.

Delegations from developing countries proposed the UN to change its UN tax experts committee into an intergovernmental agency to coordinate tax policy but US, EU and Japan all objected because this would complicate matters to the OECD’s BEPS initiative. Regarding this, Indian finance minister commented during the conference’s final plenary session that it was a "historic missed opportunity".