A new agreement negotiated under the auspices of the G-20 and the Organization for Economic Cooperation and Development aims to crack down on tax havens by subjecting the world’s largest and most profitable multinational corporations to a minimum corporate tax rate of 15 percent. The deal has been agreed by 136 countries and jurisdictions, collectively representing more than 90 percent of the global economy. The OECD is hoping it will become effective by 2023. Many economists and commentators argue that such a deal is long overdue, given the ability of many gigantic corporations to avoid paying taxes on all or [...]
After two years of diplomatic deadlock, U.N. Secretary-General Antonio Guterres has appointed a new envoy for Western Sahara, a territory disputed between Morocco and the pro-independence Polisario Front, which represents the ethnic Sahrawi population of the territory. The recent designation of seasoned Italian-Swedish diplomat Staffan de Mistura marks a much-delayed and critical step forward in a standoff that, if left untreated, risks spreading instability elsewhere in the region. The temperature has been rising of late in this often-overlooked conflict. In November 2020, fighting flared up between Morocco and the Polisario Front. A month later, President Donald Trump threw fuel on the [...]
Last week, Turkish President Recep Tayyip Erdogan touched down in Luanda, Angola, for the first leg of a four-day, three-nation diplomatic tour of Africa. After meeting with Angolan President Joao Lourenco, the Turkish leader continued on to West Africa, where he met with his Togolese counterpart, Faure Gnassingbe, before concluding his trip in Nigeria with a bilateral meeting with President Muhammadu Buhari. Throughout the tour, Erdogan—who has now visited nearly 30 African countries—highlighted the importance of cooperation between Turkey and Africa, and emphasized the prospects for increased partnerships. He also signed a swathe of bilateral agreements, including one for the [...]
