'Irresponsible arms transfers are undermining many developing countries’ chances of achieving their Millennium Development Goal (MDG) targets. This paper shows new evidence of how this is happening in parts of Asia, Latin America, and Africa – either by draining governments’ resources or by fuelling armed violence or conflict.

Either way, irresponsible arms transfers undermine governments’ development objectives and their citizens’ economic, social, and cultural rights.

Governme more...

The Caribbean has tried for years to shed its image as a refuge for tax dodgers and money launderers where travelers arriving with large amounts of cash were welcomed with open arms and even offered police escorts to their local bank.

But suspicions about the region's booming offshore banking and financial sector still run deep.

'If it was not for bank secrecy, the offshore havens in the Caribbean would be fishing communities again,' said Charles Intriago, a former U.S. federal prosecutor more...

Real estate is an important strategic sector in most economies–just think of the links to construction or the importance of property in the investment portfolios of pension funds. But it is also vulnerable to abuse for money laundering and tax fraud.

'In this paper, Jean-Michel Severino and Olivier Ray describe shifts in the objectives of overseas development assistance (ODA) over time and conclude that it is time to put the concept itself to bed - in favor of what they propose should be called “Global Policy Finance.”

Le Ministère public de la Confédération (MPC) suisse a décidé de ne pas donner suite à la dénonciation pénale déposée le 23 janvier 2009 dans le cadre de l'affaire Mobutu, en raison de la prescription.
Le MPC considère que les actes de blanchiment d'argent éventuellement commis en Suisse sont prescrits, le régime Mobutu ayant été renversé en mai 1997, moment à partir duquel les biens placés en Suisse par ses proches ont été saisis.

Même à supposer que le régime de Mobu more...

It started long back—the problem of fraudulent practices accompanying capitalism. Some may say that the problem of crony capitalism existed both in the West as well as in the East. And, what we saw as outcomes because of such practices are: South East Asian financial crises, dotcom bust, bubble burst, and the recent financial and economic crises, which have gripped the entire globe. Nobody can forgive what the nexus between Enron and Arthur Andersen did to the U.S. lassez-faire economy. Mainta more...

The potential failure of a large bank presents vexing questions for policymakers. It poses significant risks to other financial institutions, to the financial system as a whole, and possibly to the economic and social order. Because of such fears, policymakers in many countries - developed and less developed, democratic and autocratic - respond by protecting bank creditors from all or some of the losses they otherwise would face. Failing banks are labeled 'too big to fail' (or TBTF). This import more...

'Global trade has declined considerably in the wake of the global financial crisis due to decreased demand and increased protectionism. Arvind Panagariya advises the G-20 nations on how to reinvigorate trade to stimulate economies through specific recommendations aimed at restoring the flow of goods and finances.'

'Will the G-20 be able to offer recommendations for the outdated governance systems of the IMF and the World Bank? Domenico Lombardi suggests a focus on the Bretton Woods model could provide the needed guidance.'

'Almost all of the G-20 countries have agreed to some type of fiscal stimulus plan to get their economies back on track but how strong are the plans and what measures are included? Eswar Prasad and Isaac Sorkin analyze the G-20 stimulus plans in detail in new research.'