Nobel prize-winning economist steps down saying Panama government refused to guarantee report would be made public
The committee set up to investigate the lack of transparency in Panama’s financial system itself lacks transparency, Nobel prize-winning economist Joseph Stiglitz has said after resigning from the Panama Papers commission.
The leak in April of more than 11.5m documents from the Panamanian law firm Mossack Fonseca detailed financial information from offshore accounts and potential tax evasion by the rich and powerful.
Stiglitz and Swiss anti-corruption expert Mark Pieth joined a seven-member commission to investigate Panama’s notoriously opaque financial system, but both quit the group on Friday, saying Panama refused to guarantee the committee’s report would be made public.
“I thought the government was more committed, but obviously they’re not,” Stiglitz said. “It’s amazing how they tried to undermine us.”
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