Financial Transparency Coalition

My week in DC is not yet over: I have some meetings still to do, but my on-line week nearly is. I admit it’s too early to appraise all that has happened. But I’ll offer first thoughts. First highlight: World Bank MD Ngozi Ikonjo-Iweala calling for mass civil society action against illicit financial flows. Has the Bank got the issue? I think so. Second, constructive dialogue with the Oxford team. I hope we can build on it. Third, clear rejection of the view put forward by some economists that data prevents analysis of this issue or that there is even...

Ngozi Ikonjo-Iweala is MD of the World Bank. She’s spoken here and is saying that the importance of the issue we’re talking about – illicit financial flows – has not yet struck home. It’s time for it to take centre stage. She has directly endorsed action. Direct action, on the street, she says. She’s directly thanked the small coterie of us from civil society who are working on this issue – and has said this is the #1 issue for civil society and development now. There must be, she says, people on the streets demanding change. Placards are needed. And we must...

LONDON (Reuters) - The financial crisis will widen the gulf between countries in governance and corruption, a leading expert says, with some states hastening reforms but others using economic distress to justify doing nothing.