Financial Transparency Coalition

NEW DELHI – While the Union budget disappointed those hoping for an amnesty scheme for black money transactions, top North Block officials virtually ruled out any such plan in the future.

The European presidency has just issued a note advocating a push to increase financial transparency in Europe through its Savings Tax Directive. As they say:

"The Presidency attaches crucial importance to gear up bilateral talks in order to reach political agreement upon the adoption of the Savings Tax Directive in the very near future."

Unsurprisingly, there are some rather large flies in this ointment. Austria and Luxembourg have long been holdouts on the European Savings Tax Directive, working hard behind...

Who is Mina Corp and why is the U.S. government doing business with it? Last week Andrew Higgins and Walter Pincus at the Washington Post wrote an article highlighting the U.S. military’s connection with this fairly mysterious company. The Subcommittee on National Security and Foreign Affairs of the U.S. House of Representatives' Committee on Oversight and Government Reform is investigating the contracts awarded to Mina Corp and its associated form Red Star Enterprises and is expected to publish a report on its findings sometime this month. While we wait for the report from Congressional investigators,...

Task Force member Global Financial Integrity has teamed up with several prominent American NGOs to call on the United States Government to take the lead on addressing transparency in the international financial system at this week's G20 Summit in Seoul. Here's GFI's full statement about the coalition:

United States: Promote Global Financial Transparency at G20 Summit

Greater Accountability Would Improve Development and Rights, Alleviate Poverty

WASHINGTON, DC—The United States should press for greater transparency and accountability in the global financial system at the G20 Summit meeting in Seoul, a coalition...