This report, the latest in a series of annual reports by Global Financial Integrity (GFI), provides
estimates of the illicit flow of money out of the developing world-hereafter referred to as illicit
financial flows (IFFs) or illicit outflows-from 2004 to 2013, the most recent ten years for which data
Argentina’s ’vulture fund’ crisis threatens profound consequences for international financial system: UNCTAD
In a special essay analyses the Argentinian debt-restructuring crisis and reiterates its long-standing call for a sovereign debt workout mechanism. UNCTAD is the United Nations Conference on Trade and Development based in Geneva.
For many years, the UN Human Rights Council has been preoccupied by the question of public debt. Within this organ of the United Nations, an independent expert is charged with examining the effects of external debt on human rights. Cephas Lumina, who has occupied the post since 2008, has just completed his mandate.More
This is a suicidal term, preventing the government from using the legal tools that even the creditor friendly Papademos government activated in order to turn an insufficient voluntary participation to the bond swap into a coercive one.More
Over the years, trillions of dollars in both corporate profits and personal wealth have migrated “offshore” in search of rock bottom tax rates and the comfort of no questions asked. From offshore havens to financial centers, banking secrecy faces scrutiny.More
The fight against tax havens has progressed in the last few weeks much further than anybody could have imagined a couple of years ago. But the progress seems to be essentially rhetoric.More
The financial crisis has definitely put tax havens on the spotlight. In the run up to the G20 London summit on 2 April, secrecy jurisdictions are on the front pages of most newspapersMore
The World Bank and Eurodad have published the outcome report of the recent round-table on odious debt and responsible lending. The round-table represented the first open dialogue on the issue of illegitimate debt between CSOs and the World Bank. It also involved inputs from creditor and debtor governments, academics and other experts. The report covers some of the main discussions and debates on the definition of illegitimate and odious debt, proposals for how the issue could be tackled, (...)More
It seems that the World Bank has become impatient to get complete immunity in Bangladesh. Why? What it has done that it needs immunity to save its skin? Why is the government moving fast to give complete immunity to the World Bank? What makes the champion of transparency and development nervous of the court and public scrutiny? Is it only to keep reported internal irregularities under the carpet, or more? We are concerned for reasons I would like to explain.
The International Monetary Fund (...)