Financial Transparency Coalition

It’s an interesting time for east Africa. Until recently, no one believed it had much energy wealth at all—6 billion barrels, tops, compared to its western counterpart, which boasts at least 60. But the times they are a-changin’. At the end of last month, Kenya sent the world and the markets a buzz when the government announced Canada’s Africa Oil Corp discovered oil in the northern region of Turkana. Given the geographical proximity and similarities, this discoverey also has implications for Ethiopia. And additional discoveries have already been made in neighboring Tanzania and Mozambique. The oil strike in Turkana does...

The Economist came out today with two great investigative articles on shell corporations. Shell, or anonymous, corporate structures are used to do business without the real actor behind the activity being known. While we usually associated shell corporations with, to quote one of the articles, "sunny places for shady business", the reality is that the United States and the United Kingdom are some of the world's worst offenders. Cottage industries have developed in many of the U.S. states where incorporation is easiest.

Tuesday's top news stories from Global Financial Integrity

Greece's problems are so deep and structural that we there is no one cause or aggravating factor that you can point to and solve the problem by eliminating. However, there is plenty that we can do for Greece. We make it too difficult for Greece to track down corrupt money and either prevent it from fleeing the country or from being brought back home.