Learn About Illicit Financial Flows
Key Terms

G8 Leaders Tackle Tax Havens and Global Inequality

June 13, 2013

By John Bugnacki

John Bugnacki is a Communications Intern with Global Financial Integrity.

Since the 1960s, President John F. Kennedy, the OECD, and European leaders of the G8 have all committed to tackling tax havens, with a mixed record of successful reform. However, leading up to this week’s meeting of the G8, David Cameron is calling for the organization’s leaders to commit to addressing the global shadow financial system that has allowed illicit financial flows to stream into tax havens.

In this week’s issue of the Economist, Paul Collier of Oxford University, an adviser to Cameron, argues that transparency reforms are a positive step forward for global development, “Instead of preaching to poor countries or promising to double aid, which we never did anyway, the idea now is for the G8 to put its own house in order, in ways that are good for us and also good for Africa.”

Share

Disclaimer: Unless specifically stated to be the views of the Financial Transparency Coalition, the opinions expressed on this blog are solely the opinions of the individual blogger and are not necessarily those of the Financial Transparency Coalition.

Latest Press Releases

G20 Introduces “Transparency” Behind Closed Doors

Financial Transparency Coalition · September 21, 2014

WASHINGTON, D.C.—The G20’s recent focus on financial transparency is a welcome development, but instituting bare minimum requirements, or plans that allow for ...

Press Release: No Role for Public Scrutiny in OECD Plan to Curb Corporate Tax Dodging

Financial Transparency Coalition · September 16, 2014

WASHINGTON, D.C. — The Organization for Economic Cooperation and Development’s (OECD) new recommendations to fight multinational corporate tax avoidance look robust from ...

US$401.6 Billion Flowed Illegally out of Brazil from 1960 to 2012, Finds New GFI Report

Global Financial Integrity · September 8, 2014

RIO DE JANEIRO, Brazil / WASHINGTON, DC – More than US$400 billion flowed illegally out of Brazil between 1960 and 2012— draining domestic ...