G20 Focuses on Paris Attacks and Economic Stability

FOR IMMEDIATE RELEASE November 16, 2015

Washington DC -  In a meeting overshadowed by the Paris terrorist attacks, G20 Heads of State finished their annual meetings in Antalya, Turkey. ‎The leaders focused on a range of issues focused around "economic inclusion."

"G20 leaders endorsed important policies to address corporate tax avoidance," noted Eric LeCompte, Executive Director of the religious development group, Jubilee USA Network.

The package of tax reforms supported at the meeting is called the Base Erosion and Profit Shifting (BEPS) measure. Tax and transparency issues have been a focus of G20 meetings over the last four years.

In recent years, the G20 has also urged support for "quota" reforms to give developing countries greater voting shares at the International Monetary Fund (IMF). These reforms are held-up because the US Congress has yet to enact the new rules. The G20 stated they were "deeply disappointed with the continued delay" in implementing reforms agreed on during the 2010 G20 summit.

"IMF quota reform is long overdue and Congress should pass it immediately," said LeCompte, who serves on expert working groups in the United Nations that focuses on global finance policy. "The G20 is united on the need for these reforms."