IMF Georgieva calls for closing tax loopholes to mobilize funds for inclusive growth

The head of the International Monetary Fund on Wednesday said closing tax loopholes and ensuring the richest paid their fair share of taxes could help mobilize urgently needed funds for sustainable and inclusive growth. Georgieva said IMF research showed that ending tax avoidance by corporations could generate an additional $200 billion a year for governments, while implementation of a global corporate minimum tax would boost revenues by an estimated $150 billion annually.

In addition, she said, the IMF estimated that setting a minimum floor for carbon pricing could raise boost revenues by $150 billion a year.