Financial Transparency Coalition

The Swiss Bank Myth The Times of India, November 1, 2011 Curb fake currency to check inflation: RTI activist Rediff Business, October 31, 2011 140 governments pledge to tackle dictators’ loot in wake of Arab Spring Global Witness, October 28, 2011 G20: Protesters want focus on people, not finance The Associated Press, November 1, 2011

The World Bank’s private-sector entity - the International Finance Corporation (IFC) - seeks to increase tax payments to the government in developing countries through supporting their natural resource projects. This report documents that this aim can be undermined by IFCclients’ tax planning. IFC’s response is that “it is not likely to be true in almost all projects within the extractive industries”. IFC wants to “create opportunity for people to escape poverty and improve their lives” through private-sector development in poor countries. Oil, gas and mining companies are among those receiving support from IFC. For each project IFC mentioned, the ...

Read of the Week: The Uphill Battle Against Money Laundering The Council on Foreign Relations Blog, October 28, 2011 SC to hear plea for recovery of looted wealth today Dawn.com, October 31, 2011 The Corruption Trap INSEAD Knowledge, October 24, 2011 100Reporters Launches — Groundbreaking New News Organization with Focus on Exposing Corruption in Governments,

Corruption thrives on secrecy, when undisturbed by public access to information about government and business activities. Countering it requires public participation and transparency in anti-corruption efforts and in governance. This is recognised in the UN Convention against Corruption in Article 13 on civil society participation and access to information and in other UNCAC provisions. Additionally, Article 19 and other provisions of the UN Covenant on Civil and Political Rights, provide for a right to freedom of expression and to access to information held by public bodies and calls on states of their own accord to put information of public interest...