FX.co ★ G-20: unanimous decision about infrastructure center’s establishing

Following the results of the G-20 meeting, it was decided to establish a special infrastructure center. This decision was adopted unanimously, as it was said in the final communique of the summit. A new structure will allow the countries to conduct tax information exchange, which will be almost automatic. Following agreements, the infrastructure center will have started its work by 2017. By this time, politicians hope to eliminate existing administrative barriers and to make necessary changes to the legislation. One of the crucial aspects of cooperation was the agreement for "the principles of providing beneficial ownership transparency in order to ensure financial accountability of legal bodies." It is worth noting that implementation of beneficial ownership transparency is one of the priorities of the G20 on a par with fighting corruption, compliance with behavior standards in public sector, and bribery control. In addition, the leaders intend to fight against poverty and to achieve stable growth of economic indicators in developing and low-income countries. In particular, it is slated to reduce the cost of international money transfers. As for the plans regarding the countries participating in the summit, they are also enormous. "We have set an ambitious goal to lift the G-20’s GDP by more than 2 percent by 2018. This level is above the estimate provided in the basic scenario set out in the "World Economic Outlook" by the IMF in October 2013," Brisbane's plan of actions reads.