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ADB Launches Tax Hub to Enhance Domestic Resource Mobilization and International Tax Cooperation

News Release | 3 May 2021
MANILA, PHILIPPINES (3 May 2021)
The Asian Development Bank (ADB) today launched an Asia Pacific Tax Hub to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing, and strengthen coordination on tax policy and administration among ADB, its members, and development partners.
The hub will maximize regional and international resources to strengthen domestic resource mobilization (DRM) and international tax cooperation (ITC) in ADB’s developing member countries (DMCs).
“Domestic resource mobilization has emerged as a major strategic priority for our DMCs at this moment. It will be vital in the effort to address debt sustainability and to achieve the Sustainable Development Goals,” ADB President Masatsugu Asakawa said in a seminar at ADB’s 54th Annual Meeting. “The lack of a pan-regional tax community has been a unique and significant shortcoming for Asia and the Pacific. ....

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Commodity prices to stabilise after early 2021 gains - World Bank report

Energy prices are expected to average more than one-third higher this year than in 2020, with oil averaging $56 a barrel. Metal prices are expected to climb 30 per cent, and agricultural prices are forecast to rise almost 14 per cent. Almost all commodity prices are now above pre-pandemic levels, driven by the upsurge in economic activity, as well as some specific supply factors, particularly for oil, copper, and some food commodities.
“Global growth has been stronger than expected so far and vaccination campaigns are underway, and these trends have buoyed commodity prices. However, the durability of the recovery is highly uncertain,” said Ayhan Kose, World Bank Group Acting Vice President for Equitable Growth, Finance & Institutions and Director of the Prospects Group. “Emerging market and developing economies, both commodity exporters and importers, should strengthen their short-term resilience and prepare for the possibility of growth losing momentum.� ....

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World Bank says commodity prices will remain close to current recovery levels - Caribbean Times News, Trinidad news, Jamaica news, Haitian news, Guyana News,

World Bank says commodity prices will remain close to current recovery levels
WASHINGTON– The World Bank Tuesday said that commodity prices continued their recovery in the first quarter of 2021 and are expected to remain close to current levels throughout the year.
In its semi-annual Commodity Markets Outlook, the Washington-based financial institution said that the recovery is “lifted by the global economic rebound and improved growth prospects.”
However, the outlook is heavily dependent on progress in containing the coronavirus (COVID-19) pandemic and policy support measures in advanced economies and production decisions in major commodity producers.
Last week, the International Monetary Fund (IMF) noted that for Caribbean countries, labeled as “commodity exporters,” namely, Guyana, Suriname, and Trinidad and Tobago, economic growth is projected at six percent, up from the 4. 7 percent last year. ....

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Commodity Prices to Stabilize after Early 2021 Gains, Supported by Global Economic Recovery

Commodity Prices to Stabilize after Early 2021 Gains, Supported by Global Economic Recovery
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

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World Bank: Commodity Prices Steady On Recovery Path

World Bank: Commodity Prices Steady On Recovery Path
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