DOCSLIB.ORG

International Financial Transparency

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
International Financial Transparency Working Paper 17/2020 29 July 2020 International financial transparency Aitor Pérez International financial transparency Working Paper 17/2020 - 29/7/2020 - Elcano Royal Institute International financial transparency Aitor Pérez | Senior Research Fellow, Elcano Royal Institute | @aitor_ecoper Index Summary........................................................................................................................... 2 Introduction ....................................................................................................................... 3 (1) History and definition of financial transparency .......................................................... 4 The origins of financial transparency: the fight against drug trafficking ....................... 4 Raising awareness of certain risks of financial globalisation ....................................... 7 The blacklist of tax havens ........................................................................................... 7 9/11 and financial transparency .................................................................................... 7 The agenda against corruption and the recovery of public assets .............................. 8 Tax information in times of crisis .................................................................................. 8 The Financial Transparency Coalition .......................................................................... 9 Illicit financial flows and the 2030 agenda .................................................................. 10 Definition of international financial transparency........................................................ 12 (2) Measuring international financial transparency ........................................................ 12 Estimates of hidden financial flows ............................................................................ 12 The Financial Secrecy Index ...................................................................................... 15 Proposal for an indicator based on FATF peer reviews ............................................. 17 (3) Statistical analysis ..................................................................................................... 22 Lack of compliance with international financial transparency rules ........................... 22 Why are some countries more transparent than others? ........................................... 23 The relationship between corruption, offshore finance and financial secrecy ........... 25 Other obstacles to progress on financial transparency .............................................. 28 (4) Conclusions ............................................................................................................... 31 References ..................................................................................................................... 33 Summary International financial transparency is based on governments obtaining financial information on their citizens and businesses and exchanging it with other governments. The process is carried out according to rules agreed by intergovernmental institutions in order to combat illicit financial flows. Indeed, some of the main international organisations and forums have been regulating various aspects of financial transparency for 30 years. This working paper analyses the 2 International financial transparency Working Paper 17/2020 - 29/7/2020 - Elcano Royal Institute conceptual framework and metrics of this international agenda and delves into the connections of financial transparency to other variables such as economic development, democratisation and offshore finance. Despite the growing importance of this issue in the context of globalisation, its links to major transnational issues such as tax evasion, corruption and terrorism and its inclusion on the 2030 Agenda, there are significant disparities in the compliance of individual States with international financial transparency standards. This paper advocates clear concepts and ways of measuring transparency and illicit financial flows as a first step to improving the communication of the agenda and ultimately making it more effective. Introduction Financial transparency in the era of globalisation is determined by cooperation between governments and their shared concern about illicit financial flows, including tax evasion, the proceedings of corruption and organised crime, and terrorist finance. The agenda has formed gradually at summits backed by the G7 and the G20, the Organisation for Economic Co-operation and Development (OECD), the Bretton Woods institutions and various United Nations agencies, and is scattered across different international agreements. In 2015 the issue became a priority for the United Nations General Assembly, with the inclusion of a target in the Sustainable Development Goals (SDG target 16.4), alongside numerous references in the Addis Ababa Action Agenda on Financing for Development (United Nations, 2015a). Despite its importance, there are significant disparities in countries’ compliance with international standards on financial transparency. This working paper argues that clear concepts and metrics can improve the communication of the international agenda on financial transparency and make it more effective. The first section paper provides an overview of the history of financial transparency, from the creation of the Financial Action Task Force on Money Laundering (FATF) in 1989 through to the adoption of the SDGs in 2015. It also discusses the most influential NGOs in the area, using their discourse to identify the key concepts touched upon in this paper: illicit financial flows and international financial transparency. The second section summarises the main measures that have facilitated analysis and debate on illicit financial flows –also produced by NGOs– and proposes new financial transparency indicators based on compliance with the 40 FATF recommendations, in line with its peer review system. The third section explores the relationships between financial transparency and other variables, such as economic development, democratisation, tax havens and offshore finance. 3 International financial transparency Working Paper 17/2020 - 29/7/2020 - Elcano Royal Institute (1) History and definition of financial transparency The concept of transparency is related to accountability and the correct functioning of democracy and the rule of law and its use in political theory and practice dates back to the Enlightenment.1 Financial transparency, understood as the access to and exchange of financial information on individuals and organisations by governments, is a newer and less well established subconcept. The issue has been placed on the international agenda by a series of civil society organisations (CSOs), under the umbrella of the Financial Transparency Coalition and gradually extended by governments (Government of France, 2017), international organisations (UNODC & OECD, 2016) and the media. The term captures a series of measures fostered by international cooperation initiatives, which, despite their different origins, share a common denominator: the production and exchange of financial information between countries to reinforce the capacity of States in a wide range of policy areas, including tax and the fight against terrorism. The origins of financial transparency: the fight against drug trafficking The first of these initiatives arose in 1989 and marked a turning point for banking secrecy laws. The G7 summit in Paris that year adopted an economic declaration, which, in addition to analysing the global economic context and debating trade and public debt, included an entire section on drugs. It saw major world leaders commit to work together nationally and internationally to fight drug trafficking and its financial flows. Eight measures were agreed, with varying scopes and levels of implementation, the last of which involved the creation of the Financial Action Task Force (FATF) to prevent the banking system and financial institutions being used for laundering money from drugs (G7, 1989). The task force adopted 40 recommendations on money laundering (FATF, 1990), which advocated limiting national banking secrecy laws and intensifying international cooperation on investigations, arrests and extraditions. They also set out more specific requirements for States, including creating an offence of money laundering, participation in various international cooperation instruments for drug trafficking and imposing requirements on banks to identify account holders and people making deposits, and keep records and documents that could be used for future investigations. Throughout the 1990s, FATF successively extended its mandate until consolidating its status as a permanent institution. It also broadened its scope to cover all organised crime and extended surveillance from the banking sector to Designated Non-Financial Businesses and Professions (DNFBPs), a group that includes lawyers, notaries and advisers, as well as certain businesses classed as risky, such as those involved in cash remittances and the exchange of precious metals and stones. In geographic terms, the mechanism for extending the scope of FATF was highly original. Instead of encouraging States to sign-up and reach a global scope, it promoted the creation of similar institutions 1 The concept of political transparency dates back to the 18th century, when it was first used by authors such as Kant and Rousseau. It entered
Load more

Recommended publications
  • Transnational Corporations Investment and Development
    Volume 27 • 2020 • Number 2 TRANSNATIONAL CORPORATIONS INVESTMENT AND DEVELOPMENT Volume 27 • 2020 • Number 2 TRANSNATIONAL CORPORATIONS INVESTMENT AND DEVELOPMENT Geneva, 2020 ii TRANSNATIONAL CORPORATIONS Volume 27, 2020, Number 2 © 2020, United Nations All rights reserved worldwide Requests to reproduce excerpts or to photocopy should be addressed to the Copyright Clearance Center at copyright.com. All other queries on rights and licences, including subsidiary rights, should be addressed to: United Nations Publications 405 East 42nd Street New York New York 10017 United States of America Email: [email protected] Website: un.org/publications The findings, interpretations and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the United Nations or its officials or Member States. The designations employed and the presentation of material on any map in this work do not imply the expression of any opinion whatsoever on the part of the United Nations concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. This publication has been edited externally. United Nations publication issued by the United Nations Conference on Trade and Development. UNCTAD/DIAE/IA/2020/2 UNITED NATIONS PUBLICATION Sales no.: ETN272 ISBN: 978-92-1-1129946 eISBN: 978-92-1-0052887 ISSN: 1014-9562 eISSN: 2076-099X Editorial Board iii EDITORIAL BOARD Editor-in-Chief James X. Zhan, UNCTAD Deputy Editors Richard Bolwijn, UNCTAD
    [Show full text]
  • Vulnerabilities of Indonesia's Extractive Industry to Illicit Financial
    Vulnerabilities of Indonesia’s Extractive Industry to Illicit Financial Flows Jimmy Daniel Berlianto Oley, Yerikho Setyo Adi The SMERU Research Institute Universitas Gadjah Mada [email protected] [email protected] p-ISSN 2477-118X e-ISSN 2615-7977 ABSTRACT This article aims to explain the vulnerabilities of Indonesia’s extractive industry governance to the illicit financial flows. Earlier studies figured out that the company in extractive industry has been found to be one of the prominent actors of illicit financial flows. In the case of Indonesia during the period of 2004-2013, the data of Global Financial Integrity (GFI) illustrated that Indonesia is among the top 10 developing countries – which have the highest value of illicit financial flows. This article seeks to explain the nature of illicit financial flows on extractive industry, the causation of why Indonesia’s extractive industry is prone to the illicit financial flows, and finally the recommendation in addressing the issue. In doing so, the researchers conduct the qualitative desk research on explanatory methodology. The result explains that at least there are two natures Volume 4 Nomor 2, Desember 2018 | 75 Vulnerabilities of Indonesia’s Extractive Industry to Illicit Financial Flows of illicit financial flows on extractive industry, the behavior of rent- seeking and the dynamics of commodity prices. This article also found out that there are three main sources of regulatory vulnerability which may accommodate the rent-seeking behavior – which directly and indirectly influence the illicit financial flow, which are the different sets of revenue data, arm’s length measurement within the vulnerable enforcement, and regarding the cost recovery scheme.
    [Show full text]
  • TTB F 5000.24Sm Excise Tax Return
    OMB No. 1513-0083 DEPARTMENT OF THE TREASURY 1. SERIAL NUMBER ALCOHOL AND TOBACCO TAX AND TRADE BUREAU (TTB) EXCISE TAX RETURN (Prepare in duplicate – See instructions below) 3. AMOUNT OF PAYMENT 2. FORM OF PAYMENT $ CHECK MONEY ORDER EFT OTHER (Specify) NOTE: PLEASE MAKE CHECKS OR MONEY ORDERS PAYABLE TO THE ALCOHOL AND TOBACCO TAX AND 4. RETURN COVERS (Check one) BEGINNING TRADE BUREAU (SHOW EMPLOYER IDENTIFICATION NUMBER ON ALL CHECKS OR MONEY ORDERS). IF PREPAYMENT PERIOD YOU SEND A CHECK, SEE PAPER CHECK CONVERSION ENDING NOTICE BELOW. 5. DATE PRODUCTS TO BE REMOVED (For Prepayment Returns Only) FOR TTB USE ONLY 6. EMPLOYER IDENTIFICATION NUMBER 7. PLANT, REGISTRY, OR PERMIT NUMBER TAX $ PENALTY 8. NAME AND ADDRESS OF TAXPAYER (Include ZIP Code) INTEREST TOTAL $ EXAMINED BY: DATE EXAMINED: CALCULATION OF TAX DUE (Before making entries on lines 18 – 21, complete Schedules A and B) PRODUCT AMOUNT OF TAX (a) (b) 9. DISTILLED SPIRITS 10. WINE 11. BEER 12. CIGARS 13. CIGARETTES 14. CIGARETTE PAPERS AND/OR CIGARETTE TUBES 15. CHEWING TOBACCO AND/OR SNUFF 16. PIPE TOBACCO AND/OR ROLL-YOUR-OWN TOBACCO 17. TOTAL TAX LIABILITY (Total of lines 9-16) $ 18. ADJUSTMENTS INCREASING AMOUNT DUE (From line 29) 19. GROSS AMOUNT DUE (Line 17 plus line 18) $ 20. ADJUSTMENTS DECREASING AMOUNT DUE (From line 34) 21. AMOUNT TO BE PAID WITH THIS RETURN (Line 19 minus line 20) $ Under penalties of perjury, I declare that I have examined this return (including any accompanying explanations, statements, schedules, and forms) and to the best of my knowledge and belief it is true, correct, and includes all transactions and tax liabilities required by law or regulations to be reported.
    [Show full text]
  • The Power of States and Business: Explaining
    Ref. Ares(2017)5230581 - 26/10/2017 The power of states and business: Explaining transformative change in the fight against tax evasion and avoidance The Power of States and Business v2.0 19 September 2017 Document Details Work Package WP3 Lead Beneficiary University of Bamberg Deliverable ID D3.2 Date 05, 03, 2017 Submission 07, 28, 2017 Dissemination Level PU – Public / CO – Confidential / CI – Classified Information Version 1.0 Author(s) Lukas Hakelberg University of Bamberg Political Science [email protected] Acknowledgements The project “Combatting Fiscal Fraud and Empowering Regulators (COFFERS)” has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 727145. Document History Date Author Description 03-05-2017 Lukas Hakelberg First draft 19-09-2017 Lukas Hakelberg Second draft Page 2 of 52 The Power of States and Business v2.0 19 September 2017 Contents Document Details 2 Acknowledgements 2 Document History 2 Contents 3 Executive Summary 4 1. Introduction 5 2. Power in International Tax Policy 7 3. Post-Crisis Initiatives Against Tax Evasion and Avoidance 15 3.1 The Emergence of Multilateral AEI 16 3.1.1 Points of Departure: Savings Directive and Qualified Intermediary Program 16 3.1.2 Setting the Agenda: Left-of-Center Politicians and Major Tax Evasion Scandals 17 3.1.3 Towards New Rules: Legislative Initiatives in Europe and the US 20 3.1.4 The Role of Domestic Interest Groups: Tax Evaders and Financial Institutions 22 3.1.5 Reaching International Agreement: From Bilateral FATCA Deals to Multilateral AEI 25 3.2 Incremental Change in the Fight against Base Erosion and Profit Shifting 28 3.2.1 Points of Departure: Limiting Taxation at Source Through Transfer Pricing 28 3.2.2 Setting the Agenda: Starbuck’s and the Inclusion of Emerging Economies 30 3.2.3 Towards New Rules: The BEPS Report’s Ambiguous Recommendations 32 3.2.4 The Role of Interest Groups: In Defense of the Arm’s Length Principle 33 3.2.5 Reaching International Agreement? Ongoing EU-US Bargaining over BEPS 36 4.
    [Show full text]
  • Tax Haven Networks and the Role of the Big 4 Accountancy Firms
    -RXUQDORI:RUOG%XVLQHVV[[[ [[[[ [[[²[[[ Contents lists available at ScienceDirect Journal of World Business journal homepage: www.elsevier.com/locate/jwb Tax haven networks and the role of the Big 4 accountancy firms Chris Jonesa,⁎, Yama Temouria,c, Alex Cobhamb a Economics & Strategy Group, Aston Business School, Aston University, Birmingham B4 7ET, UK b Tax Justice Network, Oxford, UK c Faculty of Business, University of Wollongong Dubai, UAE ARTICLE INFO ABSTRACT Keywords: This paper investigates the association between the Big 4 accountancy firms and the extent to which multi- Tax havens national enterprises build, manage and maintain their networks of tax haven subsidiaries. We extend inter- Varieties of capitalism nalisation theory and derive a number of hypotheses that are tested using count models on firm-level data. Our Corporate taxation key findings demonstrate that there is a strong correlation and causal link between the size of an MNE’s tax Poisson regression haven network and their use of the Big 4. We therefore argue that public policy related to the role of auditors can Big 4 accountancy firms have a significant impact on the tax avoidance behaviour of MNEs. 1. Introduction 2014 which has provided a number of clear insights. These documents showed that PwC assisted MNEs to obtain at least 548 legal but secret Given the impact that the recent financial crisis of 2008 has had on tax rulings in Luxembourg from 2002 to 2010. The rulings allowed the public finances of developed economies, the use of tax avoidance MNEs to channel hundreds of billions of dollars through Luxembourg, measures by multinational enterprises (MNEs) has come under in- arising from economic activities that took place in other jurisdictions creasing scrutiny from various governments and civil society organi- and with effective tax rates so low that they saved billions of dollars in sations across the world.
    [Show full text]
  • An Analysis of the Graded Property Tax Robert M
    TaxingTaxing Simply Simply District of Columbia Tax Revision Commission TaxingTaxing FairlyFairly Full Report District of Columbia Tax Revision Commission 1755 Massachusetts Avenue, NW, Suite 550 Washington, DC 20036 Tel: (202) 518-7275 Fax: (202) 466-7967 www.dctrc.org The Authors Robert M. Schwab Professor, Department of Economics University of Maryland College Park, Md. Amy Rehder Harris Graduate Assistant, Department of Economics University of Maryland College Park, Md. Authors’ Acknowledgments We thank Kim Coleman for providing us with the assessment data discussed in the section “The Incidence of a Graded Property Tax in the District of Columbia.” We also thank Joan Youngman and Rick Rybeck for their help with this project. CHAPTER G An Analysis of the Graded Property Tax Robert M. Schwab and Amy Rehder Harris Introduction In most jurisdictions, land and improvements are taxed at the same rate. The District of Columbia is no exception to this general rule. Consider two homes in the District, each valued at $100,000. Home A is a modest home on a large lot; suppose the land and structures are each worth $50,000. Home B is a more sub- stantial home on a smaller lot; in this case, suppose the land is valued at $20,000 and the improvements at $80,000. Under current District law, both homes would be taxed at a rate of 0.96 percent on the total value and thus, as Figure 1 shows, the owners of both homes would face property taxes of $960.1 But property can be taxed in many ways. Under a graded, or split-rate, tax, land is taxed more heavily than structures.
    [Show full text]
  • Download Article (PDF)
    5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016) TAX TRANSPARENCY – AN ANALYSIS OF THE LUXLEAKS FIRMS Johannes Manthey University of Würzburg, Würzburg, Germany Dirk Kiesewetter University of Würzburg, Würzburg, Germany Abstract This paper finds that the firms involved in the Luxembourg Leaks (‘LuxLeaks’) scandal are less transparent measured by the engagement in earnings management, analyst coverage, analyst accuracy, accounting standards and auditor choice. The analysis is based on the LuxLeaks sample and compared to a control group of large multinational companies. The panel dataset covers the years from 2001 to 2015 and comprises 19,109 observations. The LuxLeaks firms appear to engage in higher levels of discretionary earnings management measured by the variability of net income to cash flows from operations and the correlation between cash flows from operations and accruals. The LuxLeaks sample shows a lower analyst coverage, lower willingness to switch to IFRS and a lower Big4 auditor rate. The difference in difference design supports these findings regarding earnings management and the analyst coverage. The analysis concludes that the LuxLeaks firms are less transparent and infers a relation between corporate transparency and the engagement in tax avoidance. The paper aims to establish the relationship between tax avoidance and transparency in order to give guidance for future policy. The research highlights the complex causes and effects of tax management and supports a cost benefit analysis of future tax regulation. Keywords: Tax Avoidance, Transparency, Earnings Management JEL Classification: H20, H25, H26 1. Introduction The Luxembourg Leaks (’LuxLeaks’) scandal made public some of the tax strategies used by multinational companies.
    [Show full text]
  • Narrative Report on Ireland
    Financial Secrecy Index Ireland Narrative Report on Ireland Ireland is ranked at 47th position on the 2013 Financial Secrecy Index. This ranking is based on a combination of its Chart 1 - How Secretive? Moderately secrecy score and a scale weighting based on its share of the secretive 31-40 global market for offshore financial services. 41-50 Ireland has been assessed with 37 secrecy points out of a 51-60 potential 100, which places it into the moderately secretive 61-70 category at the bottom of the secrecy scale (see chart 1). 71-80 Ireland accounts for over 2 per cent of the global market for 81-90 offshore financial services, making it a small player compared with other secrecy jurisdictions (see chart 2). Exceptionally secretive 91-100 Part 1: Telling the story1 Chart 2 - How Big? Ireland as a financial centre: history and background Overview huge Ireland’s role as a secrecy jurisdiction or tax haven is based on two broad developments. The first, dating from 1956, is a regime of low tax rates and tax loopholes that have large encouraged transnational businesses to relocate – often small only on paper – to Ireland. The second is the role of the tiny Dublin-based International Financial Services Centre (IFSC), a Wild-West, deregulated financial zone set up in 1987 under the corrupt Irish politician Charles Haughey, which has striven particularly to host international ‘shadow banking’ activity2. Ireland’s secrecy score of 37 makes it one of the least secretive jurisdictions on our index: secrecy was never a central part of its ‘offshore’ offering.
    [Show full text]
  • FINANCE Offshore Finance.Pdf
    This page intentionally left blank OFFSHORE FINANCE It is estimated that up to 60 per cent of the world’s money may be located oVshore, where half of all financial transactions are said to take place. Meanwhile, there is a perception that secrecy about oVshore is encouraged to obfuscate tax evasion and money laundering. Depending upon the criteria used to identify them, there are between forty and eighty oVshore finance centres spread around the world. The tax rules that apply in these jurisdictions are determined by the jurisdictions themselves and often are more benign than comparative rules that apply in the larger financial centres globally. This gives rise to potential for the development of tax mitigation strategies. McCann provides a detailed analysis of the global oVshore environment, outlining the extent of the information available and how that information might be used in assessing the quality of individual jurisdictions, as well as examining whether some of the perceptions about ‘OVshore’ are valid. He analyses the ongoing work of what have become known as the ‘standard setters’ – including the Financial Stability Forum, the Financial Action Task Force, the International Monetary Fund, the World Bank and the Organization for Economic Co-operation and Development. The book also oVers some suggestions as to what the future might hold for oVshore finance. HILTON Mc CANN was the Acting Chief Executive of the Financial Services Commission, Mauritius. He has held senior positions in the respective regulatory authorities in the Isle of Man, Malta and Mauritius. Having trained as a banker, he began his regulatory career supervising banks in the Isle of Man.
    [Show full text]
  • Tax Heavens: Methods and Tactics for Corporate Profit Shifting
    Tax Heavens: Methods and Tactics for Corporate Profit Shifting By Mark Holtzblatt, Eva K. Jermakowicz and Barry J. Epstein MARK HOLTZBLATT, Ph.D., CPA, is an Associate Professor of Accounting at Cleveland State University in the Monte Ahuja College of Business, teaching In- ternational Accounting and Taxation at the graduate and undergraduate levels. axes paid to governments are among the most significant costs incurred by businesses and individuals. Tax planning evaluates various tax strategies in Torder to determine how to conduct business (and personal transactions) in ways that will reduce or eliminate taxes paid to various governments, with the objective, in the case of multinational corporations, of minimizing the aggregate of taxes paid worldwide. Well-managed entities appropriately attempt to minimize the taxes they pay while making sure they are in full compliance with applicable tax laws. This process—the legitimate lessening of income tax expense—is often EVA K. JERMAKOWICZ, Ph.D., CPA, is a referred to as tax avoidance, thus distinguishing it from tax evasion, which is illegal. Professor of Accounting and Chair of the Although to some listeners’ ears the term tax avoidance may sound pejorative, Accounting Department at Tennessee the practice is fully consistent with the valid, even paramount, goal of financial State University. management, which is to maximize returns to businesses’ ownership interests. Indeed, to do otherwise would represent nonfeasance in office by corporate managers and board members. Multinational corporations make several important decisions in which taxation is a very important factor, such as where to locate a foreign operation, what legal form the operations should assume and how the operations are to be financed.
    [Show full text]
  • Chapter 17: Tax Treaties
    Chapter 17 Tax Treaties www.pwc.com/mt/doingbusiness Doing Business in Malta Tax treaty policy Since the mid-seventies Malta has sought to expand its However, the tax levied on the companies under the Income tax treaty network. Most of Malta’s treaties are based Tax Act in such situations will be directly limited to 15% on the OECD model although some treaties (particularly as if the treaty rate applied to the company profits. Rather older ones) contain some material variations therefrom. than a refund on the payment of dividends the investors Some of them include special tax incentives for foreign can therefore qualify for the reduced rate at the company enterprises setting up manufacturing establishments in level at the time that the profits are derived and without Malta. These consist typically in low tax rates on dividends any obligation to distribute the profits to benefit from the arising in Malta supported by tax sparing provisions. Malta’s reduced tax rate. Maltese domestic law also provides that economic development, and particularly the growth in its no tax is payable by non-residents on interest and royalties financial services sector, expanded the scope for tax treaties arising in Malta, subject to certain conditions (see Chapter and in fact currently Malta has over 70 double taxation 11) and, as stated above, this rule applies irrespective of the agreements with almost all the important OECD countries. treaty provisions dealing with withholding taxes on these The current list of tax treaties is given in Appendix VII. categories of income. Similarly, no tax is payable by non- A tax treaty concluded by Malta becomes law by Ministerial residents on capital gains arising on transfers of company order and the provisions arising therefrom apply shares or securities, except where such gains are derived notwithstanding any provisions to the contrary under from the transfer of shares or securities in companies whose Maltese domestic tax law.
    [Show full text]
  • The Changing Faces of Development Aid and Cooperation: Encouraging Global Justice Or Buttressing Inequalities?
    REALITY OF AID 2018 REPORT The Changing Faces of Development Aid and Cooperation: Encouraging Global Justice or Buttressing Inequalities? The Reality of Aid The Changing Faces of Development Aid and Cooperation The Reality of Aid 2018 Report Published in the Philippines in 2018 by IBON International IBON Center, 114 Timog Avenue, Quezon City 1103, Philippines Copyright © 2018 by The Reality of Aid International Coordinating Committee Writer/Editor: Brian Tomlinson Copy editor: Erin Ruth Palomares Layout and Cover Design: Jennifer Padilla Cover Photos: UN Photo/Igor Rugwiza UN Photo/Arpan Munier UN Photo/Marco Dormino Printed and Bound in the Philippines by Zoom Printing Co. Published with the assistance of: Coalition of the Flemish North-South Movement All rights reserved ISBN: 978-971-9657-15-6 i Contents 1 The Reality of Aid Network 3 Acknowledgments 5 Preface 7 Political Overview The Changing Faces of Aid: Encouraging Global Justice or Buttressing Inequalities? The Reality of Aid Network International Coordinating Commitee 29 Part 1: Reports 31 Chapter 1: ODA and the Private Sector to role in achieving the SDGs 33 Development Finance Institutions: The (in)coherence of their investments in private healthcare companies Benjamin M. Hunter, King’s College London; Anna Marriott, Oxfam GB 45 ODA and private sector resources to achieve the SDGs: The Ugandan case Juliet Akello, Uganda Debt Network 53 The Shortcoming of Blended Financing in Development Cooperation within the Energy Sector in Cameroon: Show-casing the Dibamba Thermal Power Project
    [Show full text]