Germany to press for tax cooperation, debt transparency at IMF/G20 meetings

FILE PHOTO:  Finance Minister Olaf Scholz addresses a news conference to present the budget plans for 2019 and the upcoming years in Berlin
FILE PHOTO: Finance Minister Olaf Scholz addresses a news conference to present the budget plans for 2019 and the upcoming years in Berlin, Germany March 20, 2019. REUTERS/Fabrizio Bensch/File Photo

April 5, 2019

BERLIN (Reuters) – German Finance Minister Olaf Scholz will urge financial leaders next week to agree on a minimum level of corporate taxation globally and increase debt transparency in developing countries, a senior German government official said on Friday.

The talks in Washington will be dominated by political risks such as trade disputes and Britain’s departure from the European Union, said the government official who spoke on condition of anonymity.

Scholz, who is likely to face calls to increase fiscal stimulus to counter the effect of a slowing economy, will tell allies that Germany’s large current account surplus will shrink gradually due to vibrant domestic demand and higher state spending, the official added.

Finance ministers and central bank governors of the world’s 20 biggest economies are due to meet in Washington next week with the state of the global economy and political risks to growth at the top of the agenda.

(Reporting by Michael Nienaber; editing by Thomas Seythal and Alexander Ratz)

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