LONDON :Finance ministers from the Group of Seven rich nations said on Thursday they had to make more headway on the small print of a reform of global corporate tax rules in time for a summit of world leaders in October.
Diplomats are now pushing for a deal at the next Group of 20 summit in October on the technical parameters for the reform. The Treasury said Yellen also called for continued G7 efforts to enhance support for low-income countries hit hard by the COVID-19 pandemic and its economic fall-out. A source familiar with the discussions said G7 members voiced support for both the IMF's existing Poverty Reduction and Growth Trust and a new vehicle proposed by Georgieva, the Resilience and Sustainability Trust, to allow richer IMF members to donate or loan their reserves to more vulnerable countries.