ASAP, GFI, and Yale Inaugurate Prize Honoring Nobel-Winning Economist Amartya Sen
2014 Contest Solicited Essays on Connection between Illicit Flows, Global Poverty, Inequality
WASHINGTON, DC / NEW HAVEN, CT – Academics Stand Against Poverty (ASAP), Global Financial Integrity (GFI), and the Yale Global Justice Program awarded the inaugural Amartya Sen Prize over the weekend to Max Everest-Phillips, Hamish Russell, and Gillian Brock for their essays on illicit financial flows, poverty, and inequality.
Contributing to a Safer and More Secure World Demands That Financial Intelligence Units Work to Change the System from Within
GFI President Raymond Baker delivered the keynote address before the 22nd Plenary of the Egmont Group of Financial Intelligence Units in Lima, Peru.
European Parliament Passes Landmark Transparency Provisions for Oil, Gas, Mining, and Logging Companies
Canadian PM Harper Announces Intent to Adopt Similar Policies for Canadian Firms
G8 Urged to Make Disclosure Global Norm at Next Week’s Summit; Expand Country-by-Country Reporting to Firms in All Sectors
WASHINGTON, DC – Global Financial Integrity (GFI) lauded the European Parliament today for adopting new transparency rules for all EU listed extractive industries companies as well as all large, privately held extractive industries companies incorporated in the EU. Announced informally by European leaders in April, the rules were officially adopted by the Parliament Wednesday in what GFI referred to as a major victory for anti-corruption proponents. Also on Wednesday, the Canadian government announced that it intended to move forward to enact similar rules, a move lauded by GFI, a Washington, DC-based research and advocacy organization.
The French, it has oft been said, have a wonderful way with language. What sounds rather bland in English, rolls off the French tongue with a touch of elegance and élan. And so it is with the rather clumsy term the English-speaking world uses when referring to where many people hide their wealth from prying eyes: tax haven. The French have a far more pleasant term for these places: they call it a paradis fiscal, a fiscal paradise.
Fiscal paradise, doesn’t that sound much better? No references to unseemly topics like taxes, or worse, worrying about whether to pay them. By using the French term, all the tawdry dealings of the rich and powerful get a makeover that would make any Caribbean hotel spa proud. All that might be sinister or criminal about what is hiding behind the veil of a nominee trust or an anonymous shell company seems somehow rather innocuous when it happens in ‘paradise.’
Raymond Baker, the President of Global Financial Integrity, addresses the issue of illicit financial flows while speaking at Ryerson University in Toronto, Canada at “Beyond 2015: Towards a New Consensus on Global Poverty,” a conference marking the launch of the Canadian chapter of Academics Stand Against Poverty (ASAP).
Official Statement is Heavy on Promises, Short on Action
WASHINGTON, DC — The G20 Summit in Toronto June 27th-28th was heavy on promises and lean on concrete action items, notes the Task Force on Financial Integrity and Economic Development. While the G20 expressed a strong desire to “close the development gap,” increase transparency, and tackle corruption and money laundering, there was a notable lack of language indicating an understanding of the interconnected nature of these different problems.
G20 Pledges to Help Poor Meet MDGs: Financial Transparency Can Help
TORONTO, Canada – The world’s largest economies hinted today that they will consider increasing Official Development Assistance to poor countries as a way to help them meet the Millennium Development Goals. The Task Force on Financial Transparency and Economic Development calls on the G20 nations to institute financial transparency measures which will result in additional resources that can be used to meet those development targets.
WASHINGTON, DC – Global Financial Integrity (GFI) launched its “G20 Transparency” campaign today, an international grassroots sign-on drive to collect 100,000 signatures on a petition calling for greater transparency in the global financial system. The petition will be delivered to Canadian Prime Minister Stephen Harper prior to the G20 meeting in Toronto at the end of June.