Human rights, development & financial governance groups join in statement on rights, poverty, transparency & financial integrity
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Author: Arvind Ganesan, Human Rights Watch; Thomas Pogge, Yale Univ.; Raymond Baker, Global Financial Integrity
In early December of last year,...40 organizations and individuals met at Yale University to discuss illicit capital flows out of developing countries, lack of transparency in the global financial system, and the impact these conditions have on human rights around the world... The result of this discussion -- called the New Haven Declaration -- is being released today. Its message is clear, that "human rights and international financial integrity are intimately linked" and that poverty increases when money flows out of nations illicitly instead of being invested in the basic needs of people in their countries... The Washington NGO Global Financial Integrity estimates that $1 trillion in illicit money is spirited out of developing countries every year, utilizing the global shadow financial system... Human Rights Watch has documented how billions of dollars in illicit outflows have damaged, for example, Angola, Equatorial Guinea and Indonesia, shifting abroad funds that could otherwise be used for education and health services.
Author: Global Financial Integrity
Global Financial Integrity (GFI) released today a statement-dubbed the New Haven Declaration-which debuts a new partnership between humans rights and financial transparency advocacy groups...
[Text of declaration:] We call upon the United Nations, the G8, G20, WTO, IMF, World Bank, and other international fora, as well as on national governments, world leaders, faith groups and civil society organizations to recognize the linkage between human rights and financial transparency. We further call for decisive steps to ensure that developing countries can retain their resources for sustainable growth and poverty alleviation... [signatories include Amnesty Intl., Human Rights Watch, Oxfam, Global Financial Integrity, Center for Applied Philosophy & Public Ethics, Open Society Institute Justice Initiative, Tax Justice Network, National Council of Churches]