Global Financial Integrity has released the following video along with a letter from GFI Director Raymond Baker. The video encourages individuals to combat one of the oft-neglected causes of poverty, illicit financial flows, by urging the G20 to create financial transparency. It’s one of the best videos of its type I’ve ever seen.
The letter says:
For over half a century – western aid organizations have admirably worked to alleviate poverty in developing countries. Despite these efforts, over 3 billion people-or half the world-live on less than $2.50 per day. Indeed, more people live in poverty today than at any other time in human history.
That’s because for every 1 dollar in foreign aid sent to developing economies, 10 dollars is flowing out illicitly. In fact illicit financial flows from developing economies total $1 trillion every year-10 times the amount of foreign aid received.
But there is hope! We can curtail the devastating effects of dirty money by urging the G20 to create financial transparency in the international banking system.
Today, Global Financial Integrity released a video urging people to do just that. The video, titled “Who Suffers?” explains this problem and urges people to take action by signing the petition to the G20 at www.G20Transparency.com. Please join us in our fight by forwarding this video to your friends and family.
Global Financial Integrity
Please do support this campaign.
Disclosure: Global Financial Integrity and Tax Research LLP are both members of the Task Force on Financial Integrity and Economic Development