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Clampdown on tax havens: Where does the International Finance Corporation stand?
October 21st, 2010
Should the World Bank’s private sector lending arm, the International Finance Corporation (IFC) set a clear policy regulating its investments in companies registered in tax havens? This question led a few weeks ago to one of the most heated discussions ever on the Executive Board of this institution. Last year, European NGOs asked their Executive Directors at the World Bank to set up binding guidelines to ban IFC investments in companies operating through tax havens. In response to pressure by civil society, the World Bank has taken swift action to start up this discussion; however, the Bank has not gone...
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