Saudi Central Bank – SAMA’s Post

Among the many observations formulated by Draghi earlier this week, one really struck me from a #lawmaking perspective. The topic is definitely not new and those who operate daily in the private sector are well aware of its multiple drawbacks. So, Draghi directly highlights that: ❗️ ❗️ ❗️  while 80% of the Commission Work Programme items are relevant to #SMEs, only around half of impact assessments substantially focus on those companies ❗️  (which, by the way, constitute a crucial pillar in the EU economy); 🔴 Companies in general have to comply with the accumulation of or frequent changes to #legislation over time, translating into #legaluncertainty, #overlap, and #inconsistencies; 🔴 Companies face an ''extra burden'' due to different national transposition of directives or to #goldplating. That is serious. I look forward to seeing if Draghi's proposals to require the Commission to streamline the acquis communautaire at the start of each mandate and define a clear impact assessment methodology will find support. #EU #competitiveness #Draghireport #foreisight #EUpolicy https://lnkd.in/e5W8HUAH

The multilateral development system, which encompasses more than 200 organisations like the World Bank, IMF, and UN, is crucial for fostering collective action on global challenges.     ↗ 2022 marked the 7th consecutive year that OECD Development Assistance Committee (DAC) members increased their contributions to multilateral organisations.    Their aid was comprised of USD 50.6 billion in core contributions—funds that can be used flexibly, while earmarked contributions—funds designated for specific projects or purposes—reached USD 48 billion.     DAC members can enhance the multilateral development system's efficiency and effectiveness by pursuing reforms and prioritising funding quality, coherence, co-ordination, transparency, and accountability.    As the Summit of the Future kicks off this month, read our 🆕 analysis of multilateral development finance and system reforms ➡ https://brnw.ch/mdfr24     #OurCommonFuture #FfD4

How can multilateral organisations drive progress on the Sustainable Development Goals (#SDGS)? Multilateral organisations hold key roles in the development finance landscape. In 2022, they committed a total of USD 231 billion from their core resources to support developing countries. Among these organisations, multilateral development banks, led by the World Bank Group, mainly provide non-concessional development finance. In contrast, other multilateral institutions, such as the United Nations agencies, typically offer concessional support. Learn more 👉 https://lnkd.in/eadaUjeg #HSC24 Mary Beth Goodman Jieun Kim Olivier Cattaneo Haje Schütte

Today at OECD - OCDE #OECDForum: Partners from Open Government Partnership, UNODC, The World Bank and Transparency International are reflecting on various international conferences. Paula Pérez of OGP mentioned that we see momentum sustaining on global topic like #BeneficialOwnership #transparency, but it needs technical support and political buy-in for this to to translate into action in countries. For example, the OGP National Action Plans are a tool which can help with this. Open Ownership provides technical assistance to countries across the world that want to implement reforms on beneficial ownership transparency. Read some of the latest updates in our newsletter: https://lnkd.in/gf9Ef4dw

This week, in our weekly insight: Are financial markets nervous about the Cabinet uncertainty? Last week demonstrated how fragile and uncertain the first "coalition" government of South Africa will be as the Government of National Unity (GNU) struggled to cross the first main hurdle towards successful cooperation consolidation and fought to reach a consensus on a new Cabinet. To read more, click on the secure link below: https://zurl.co/4Xvg

The new #AMIF report on how #financialinstruments can help integrate migrants in France is out! Check out their recommendations & lessons learnt. https://lnkd.in/eGisZzEW European Commission | European Investment Bank (EIB) | ADIE | Initiative France | IMF Créa-Sol 

The 12th Edition of the Pan-African Conference on Illicit Financial Flows (PAC2024) kicked off today in Tunis, focusing on the theme "Africa’s Tax Agenda in Combatting Illicit Financial Flows: From Words to Action." https://ow.ly/5zkz50Sqn0L The theme highlights the progress made by African nations in combating illicit financial flows (IFFs) and emphasizes the need to move from discussions to practical implementation. It acknowledges the evolving dynamics of taxation policies at national, regional, and international levels while addressing the persistent challenges faced by the continent. PAC2024 aims to underscore the commitment of all stakeholders to tackle these challenges, reinforcing the determination towards achieving inclusive growth and sustainable development, as outlined in Africa’s Agenda 2063. The event will showcase the substantial strides taken by African countries in this area and the continued effort required to combat IFFs effectively.

At the recent AGOA Private Sector Forum, Anne Aliker, Head of Client Coverage, Corporate and Investment Banking at Standard Bank, underscored the significance of international trade and infrastructure investments, pointing to the substantial potential for strategic partnerships and economic advancement. Aliker highlighted the African Growth and Opportunity Act (AGOA) as a key driver of growth for both African countries and the United States. This legislation allows qualified African nations duty-free access to the U.S. market for a wide array of goods, fostering increased economic interaction across the continents. To read the full article follow this link: https://lnkd.in/dEJVWkCF #DailyNews #TopStories #LocalNews #CityNews #WorldNews #InternationalNews #GlobalNews #Politics #PoliticalNews #Government #Elections #BusinessNews #Economy #MarketUpdate #FinanceNews #TechNews #TechUpdate #Innovation #EntertainmentNews #CelebrityNews #MovieNews #MusicNews #SportsNews #SportsUpdate #LiveScores #GameDay #HealthNews #Wellness #MedicalNew #HealthUpdate #Environment #ClimateChange #Sustainability #GreenNews #LifestyleNews #TravelNews #FoodNews

#Cameroon 🇨🇲 #Armenia and Cameroon have joined the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (#MCAA), as announced by the OECD in March 2024. 🤝 The MCAA facilitates the exchange of financial account information among participating countries, operating under the OECD Common Reporting Standard (CRS). 📅 Armenia plans to commence information exchange under CRS starting September 2025, while Cameroon aims to follow suit in September 2026. These developments mark significant strides toward enhanced international cooperation in combating financial crime and promoting transparency. #FinancialTransparency #OECD

Our latest Weekly Investor Research is out now. In this week’s edition: ➡ The US Presidential debate and the first round of the French general elections are just starters for the political trends impacting the west. ➡ The President of South Africa appointed its national unity government, which is likely to lead to positive policy developments, while Mexico’s President-elect appointed market-friendly ministers to her cabinet. ➡ Sri Lanka agreed a debt restructuring with official creditors and China’s Exim Bank, another important milestone for EM frontier reforms. Read more from Ashmore’s Head of Research, Gustavo Medeiros: https://lnkd.in/e83ANmQ6 #EmergingMarkets #SouthAfrica #SriLanka #Mexico