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Business Daily: UN Boasts Historic Cash Deal for the Poor

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16/07/2015

UN Boasts Historic Cash Deal for the Poor

BBC World Service - Business Daily, UN Boasts Historic Cash Deal for the Poor

A UN Conference declares a deal on development. Greek politicians say yes to bailout.

A UN Conference declares a deal on development, but a row breaks out between rich and poor nations over tax. Also, Greece says yes to  bailout, but doubts remain over the rescue.

A UN Conference in Addis Ababa offers a deal on its new Sustainable Development Goals, but a row breaks out over tax reforms needed to pay for them. Africa loses an estimated 50 billion dollars a year from illicit cash flows, much of it tax evasion by major multi-nationals, according to campaigners. Some of them believe the Organisation of Economic Cooperation and Development, which is spearheading the changes, is marginalising developing countries. We hear from them, from Mark Suzman, President of Global Policy at the Bill and Melinda Gates Foundation, and from Angel Gurria, Secretary General of the OECD, who denies the allegations.
We also speak to our correspondents in London and Athens about the latest Greek parliament vote, approving the EU offer of a bailout. It has deeply split politicians in Greece, and the pressure remains on governments in the rest of Europe to get their legislatures to approve the deal. The IMF has made clear its reservations, and the European Central Bank will be under pressure to find more money to keep Greek banks afloat.
(Photo: Schoolchildren in Ethiopia; Credit: Sean Gallup/Getty Images)

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