BANGKOK — Finance Minister Taiwo Oyedele, who chairs the G-24 group of developing countries, said this is the wrong time to impose new or heavier taxes on vulnerable people and productive sectors. He said countries should first look for savings and revenue at home, adding that debt is future taxes. Oyedele said developing nations pay about $500 billion more for their debt than developed countries. The G-24 called on the IMF and World Bank to provide more affordable concessional financing. Iyabo Masha, director of the G-24 Secretariat, said Senegal, which is close to a deal with its creditors, could serve as a template.
Oyedele Warns Against New Taxes on the Poor as G-24 Seeks Cheaper Loans
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