In 2007, South Africa signed up to the OECD Anti-Bribery Convention and joined the Working Group on Bribery in International Business Transactions, a group made up of representatives from all 38 signatory countries which monitors the convention’s implementation and enforcement.(1026 words)
The financial crisis might not have been caused by taxation, but it nonetheless raises concerns about evasion, compliance and transparency in financial markets. The OECD Observer asked South Africa's minister of finance, Pravin Gordhan, who chairs the OECD's Forum on Tax Administration, to explain.(534 words)
OECD faces a huge challenge of image. You insist that the organisation, known for its in-depth analyses and reliable statistics, aims to represent all relevant economies. Emerging countries, however, cultivate the impression that the OECD, despite its co-operation and development efforts well beyond its membership, is still the voice of "rich nations" only.(115 words)
Long-term care spending to double; Crisis stretches health spending; Start-ups squeeze; Multinational guidelines updated; Soundbites; Russia moves towards Anti-Bribery Convention; Economy; Internet economy advances; New debt centre for South Africa; OECD and India enhance tax co-operation; Plus ça change...(1395 words)
The budget deficit for the OECD area as a whole probably peaked at around 7.5% of GDP in 2010. That’s the equivalent of some US$3.3 trillion. A decrease to around 6.1% of GDP is expected in 2011, which will still be high by historical standards. But while the need to restore public finances is a global challenge, the state of government balance sheets varies widely. Economic starting points, causes of deficits and budgetary strategies also vary. Some countries have started down the road of austerity, others are maintaining stimulus and plan to rein in their deficits from 2011.
In December 2010 we asked finance ministers from a broad selection of countries facing different fiscal challenges–France, Germany, Indonesia, Ireland, Korea, Mexico, New Zealand and South Africa–to answer this question: “What actions is your government taking to bolster public finances, while upholding growth and services?”(3389 words)
The staging of the World Cup in South Africa was a tribute to that country’s transformation since Apartheid in the 1990s. However, poverty persists. Some 54% of South Africans are poor, based on a national definition of poverty of living on $4 a day. And poverty and inequality still reflect race, as our graph shows. While widespread access to services such as housing, water and electricity has improved substantially, the link between race and poverty remains remarkably strong by international standards, as the income of black South Africans continues to lag behind whites and Asians in the country.(244 words)
Where are we in the current economic crisis?