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</o:shapelayout></xml><![endif]--></head><body lang=EN-CA link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>http://www.reuters.com/article/2015/07/15/us-development-goals-finance-idUSKCN0PP28320150715?feedType=RSS&feedName=worldNews<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>World | Wed Jul 15, 2015 1:59pm EDT <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>Related: <a href="http://www.reuters.com/news/world"><span style='color:blue'>World, </span></a><a href="http://www.reuters.com/subjects/united-nations"><span style='color:blue'>United Nations</span></a> <o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span style='font-size:24.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>Development finance talks in Ethiopia close to collapse: charities<o:p></o:p></span></b></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>By <a href="http://blogs.reuters.com/search/journalist.php?edition=us&n=katymigiro&"><span style='color:blue'>Katy Migiro</span></a> <o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>ADDIS ABABA (Thomson Reuters Foundation) - Talks between rich and poor countries in the Ethiopian capital, aimed at agreeing on the financing of the United Nations' bold new global development agenda, are on the brink of collapse, advocacy groups said on Wednesday.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>The G77 developing countries want the final document, due to be signed when the Financing For Development (FfD) conference closes on Thursday, to include the creation of a new U.N. tax body which they hope would set new global rules to stop tax dodging.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>The proposal is fiercely opposed by the rich members of the Organisation for Economic Cooperation and Development (OECD), which drew up the current tax rules.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>"Negotiations are on the brink of collapse," the European Network on Debt and Development said in a statement.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>"Rich country governments led by the U.S., the U.K. and Japan are jeopardizing the entire FfD agreement as they refuse to consider an inter-governmental tax body."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>Nearly $1 trillion in illicit finance - the fruits of tax evasion, crime and corruption - is estimated to leave poor countries each year, according to Global Financial Integrity, a policy research group.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>The G77 wants the current U.N. tax committee to be upgraded to a political body with more power and money and universal membership. <o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>A compromise proposal put forward by South Africa and the host nation, Ethiopia, was rejected on Wednesday morning, charities said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>A draft of the proposal, seen by the Thomson Reuters Foundation, said the two nations invited the U.N. Economic and Social Council, to which the current U.N. tax committee reports, to finales proposals for upgrading it to "a universal body with equitable participation of developing countries" by 2016.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>The OECD said in a statement that it had supported inclusive processes. Its "Base Erosion and Profit Shifting" reform initiative, due to be finalised in November, includes 60 countries - the 34 OECD members plus G20 nations and 20 developing countries representing geographical regions, it said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>"The discussion should not be about one body or another body, but rather making sure that it works for everybody," OECD Secretary-General Angel Gurría said.<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>"Any progress we make on this work will accrue to the benefit of developing and developed countries alike."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>A successful outcome in Ethiopia is seen as crucial for building momentum towards signing the Sustainable Development Goals in New York in September, and for reaching a climate change agreement in Paris in December. <o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>"Failure to agree is not an option,” Save the Children's policy, advocacy and campaigns director Brendan Cox said in a statement. "Too much is at stake."<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>(The story is refiled with ADDIS ABABA dateline)<o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif;mso-fareast-language:EN-CA'>(Reporting by Katy Migiro, editing by Tim Pearce; Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers humanitarian news, women’s rights, corruption and climate change. Visit <a href="http://www.trust.org"><span style='color:blue'>www.trust.org</span></a>)<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>