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Failing its own principles: G-20 drags its feet on corruption

G20msgSTAFF REPORTER | Transparency International

BERLIN - G20 leaders are meeting in Buenos Aires this weekend at the annual summit of leaders of the 19 largest economies and the EU.

The G20 has been a frequent topic for Transparency International this year as we’ve put their uneven anti-corruption efforts under a magnifying glass.

In April we published a report that found the G20 dragging its feet on implementing its own principles for combatting the shell companies that fuel corruption.

Late last week, police raided the headquarters of Deutsche Bank, Germany’s largest lender, over suspicions that employees helped clients set up shell companies in tax havens to dodge anti-money laundering rules.

This highlights why we need coordinated global leadership on the issue from the G20, a group that is responsible for 85% of global economic output.

Yet, despite more than 60 anti-corruption commitments from G20 leaders, it is profoundly disappointing that there is little evidence of any real progress.

Last summer, in an unprecedented show of solidarity, the Business 20 (B20), which represents the private sector, and the Civil 20 (C20), representing civil society, released two historic joint statements highlighting the crucial role of anti-corruption in maintaining economic and financial stability.

As the G20 meets today in Buenos Aires, that message seems to be falling on deaf ears.

Which is why last week, in a last-ditch attempt to get G20 leaders to take the fight against corruption seriously, we and our Argentinian chapter, Poder Ciudadano, have lined streets in Buenos Aires near the summit venue and delegations’ hotels with posters saying ‘#G20TakeAction: Implement Your Anti-Corruption Commitments’.

Even G20 leaders cannot miss the message. Whether they pay attention is another matter.


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