IMF, OECD, World Bank, WTO Launch Platform to Boost Subsidy Information Access
The International Monetary Fund, the Organization for Economic Cooperation and Development, the World Bank and the World Trade Organization launched a Joint Subsidy Platform to "enhance transparency on the use of subsidies," the WTO announced last week. The platform will…
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help users access information on the nature, size and impact of subsidies with a goal of aiding dialogue on their use and design. The heads of all four organizations issued a joint statement saying governments "should not use subsidies to provide a competitive advantage to domestic industry and should seek to minimize the cost and distorting effects on trading partners. Doing this effectively, however, will require building a more common understanding across governments on the appropriate uses and design of subsidies."