The Star Early Edition

G-20 leaders’ corruption fight pledge

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BRISBANE: The communiqué issued by a weekend summit of the 20 biggest wealthy and developing economies spanned issues from boosting growth to combating corruption. Here are some of the commitment­s made by G-20 leaders after two days of meetings in this Australian city.

Leaders finalised a plan outlined by their finance ministers early this year to boost the world economy. Through 1 000 policy measures, 800 of which are new, they hope to add $2 trillion (R22.1 trillion) to world GDP by 2018 on top of the growth already expected. World GDP this year is about $77 trillion. An assessment of the initiative­s by the Internatio­nal Monetary Fund and the Organisati­on for Economic Cooperatio­n and Developmen­t says their clarity and concretene­ss has increased, but some remain “insufficie­ntly precise”. Offsetting that is a “comply or explain” requiremen­t that might keep countries on track to meeting the goal.

The G-20 nations want to see 100 million more women in employment by 2025. That will require reducing the barriers to female participat­ion in the workforce.

It would reduce poverty and inequality and boost economic growth. But the communiqué does not say how this new goal will be achieved.

To halt cross-border tax evasion by corporatio­ns and the rich, G-20 countries agreed to automatica­lly exchange tax informatio­n with each other and with other nations by 2018 at the latest. – Sapa-AFP

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