Financial Transparency Coalition

Two weeks ago, the twenty most powerful leaders of the world headed to Cannes, France for the G20 Summit. It was the G20’s sixth meeting in a series of ongoing discussions about the world’s financial markets. While the meeting did not reach any concrete policy decisions on a host of important issues plaguing our financial world, some of the accomplishments of the meeting included a few pointed and poignant statements from some of the world’s most powerful. One of these statements came from Indian Prime Minister Manomohan Singh, who urged the world’s twenty most powerful countries to agree to...

WASHINGTON, DC – Global Financial Integrity (GFI) praised the G20 today for its commitment to tackle the issue of illicit financial flows and crack down on tax haven secrecy. In the final declaration and its appendices published at the conclusion of a two-day summit in Cannes, the 20 largest economies committed to “deal effectively with tax havens and non cooperative jurisdictions including the fight against illicit capital flows considering their impact on development.”

CANNES / WASHINGTON – Global Financial Integrity (GFI) today joined over 40,000 people from around the world calling on G20 leaders to end tax haven secrecy when they meet this week in Cannes, France.

WASHINGTON, DC - Three years after the near collapse of the international banking system and as it faces new instability, the governments of the Group of 20 leading economic powers (G20) must focus on the underlying, systemic causes of the current financial crisis. A first step should be the enforcement of measures to ensure financial transparency.