Financial Transparency Coalition

LONDON/MONROVIA – Far-reaching reforms of Liberia’s oil sector are urgently needed if its population is to benefit from future oil discoveries, says a report released today by Global Witness (1) and the Liberian Oil and Gas Initiative (LOGI) (2). As the country heads to the polls in October, and with major oil companies such as US giant Chevron trying to find oil in Liberia, these reforms must be a priority for any new government.

WASHINGTON – G20 ministers’ latest plan to help poor countries misses an opportunity to drive massive change because it neglects action against tax dodgers, says Christian Aid.

WASHINGTON – The United States’ dual pledge to implement the Extractive Industries Transparency Initiative (EITI) and to support legislation that would stop U.S. states from allowing secretive front companies to be set up represents an important step forward in the global fight against corruption and corporate secrecy, said campaign group Global Witness. Announced on Tuesday, September 20th by President Obama, these measures form key elements of the U.S. Open Government Partnership National Action Plan.

NEW YORK – The President announced his intention today to advocate for Congress to adopt laws requiring the disclosure of beneficial ownership for corporations at the time of company formation, an idea already proposed by Senators Carl Levin and Chuck Grassley in S. 1483, the Incorporation Transparency and Law Enforcement Assistance Act, as well as a U.S. commitment to implement the Extractive Industries Transparency Initiative (EITI), as part of the launch of the new government transparency initiative, the Open Government Partnership.