Financial Transparency Coalition

LONDON—A May 2010 report from Christian Aid, Blowing the Whistle: Time’s Up for Financial Secrecy, reveals how the same tax-haven secrecy that allows football club owners to hide their business practices – and even their identities – is also facilitating massive tax dodging in developing countries.

Joint press release by Federal Chancellor Angela Merkel, OECD Secretary-General Angel Gurría, WTO Director-General Pascal Lamy, ILO Director-General Juan Somavia, IMF Managing Director Dominique Strauss-Kahn and World Bank President Robert B. Zoellick on the global economy.

The final communiqué released following the conclusion of the G20 Finance Ministers and Central Bank Governors' meeting on April 23, 2010.

By Richard Murphy -- Development Finance Institutions (DFIs) are state owned companies located in European countries that invest their capital in developing countries for the express purpose of advancing development in those places by promoting investment in local business. In this respect their activities can be compared to that of the European Investment Bank (EIB) and International Finance Corporation (IFC) – a part of the World Bank. All these institutions are closely related in the way they operate, including the use of tax havens in their investment operations or those of their beneficiaries. Therefore, the concerns raised and proposals...