Financial Transparency Coalition

Tax Justice Network International and Tax Justice Network USA released the following reaction to Pittsburgh's G20 communique:

Reactions by Tax Justice Network USA / Tax Justice Network International

We are heartened by the G-20’s renewed commitment to cleaning up tax havens, building on the progress that it made at the London summit last April. However, we are concerned that the G-20 needs to do much more to translate this commitment into reform.

While the G-20 communiqué states (para. 15) that its “commitment to fight non-cooperative jurisdictions has produced impressive results,” in...

Global Financial Integrity just put out a statement lauding the G20's commitment to end banking secrecy, increase transparency in global finance and curtail illicit financial flows from developing economies. Check out the full text of the speech below:

Washington, DC -- The G-20 reaffirmed its commitment to pressing uncooperative secrecy jurisdictions to adopt more rigorous reporting standards, tackle banking secrecy, and increase overall transparency in global finance in a communiqué released at the conclusion of today's summit in Pittsburgh.

"Transparency and accountability in global finance are the cornerstones of a strong and robust world economy,"...

So far, these are the really significant pieces that I've pulled from the statement while skimming through it. In the Preamble section:

22. To take new steps to increase access to food, fuel and finance among the world’s poorest while clamping down on illicit outflows. Steps to reduce the development gap can be a potent driver of global growth.

In the "A Framework for Strong, Sustainable, and Balanced Growth" section:

14. We call on our international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within...