October 8, 2014
Clark Gascoigne, +1 202 293 0740 ext. 222
October 11th Forum to Focus on Illicit Financial Flows in the Context of the Post-2015 Sustainable Development Agenda
High Level Discussion to Be Live-Streamed During the 2014 IMF/World Bank Annual Meetings
WASHINGTON, DC – Global Financial Integrity (GFI) President Raymond Baker is to be featured on a World Bank panel on Saturday, October 11, 2014 focusing on the issue of illicit financial flows in the context of the Post-2015 Sustainable Development Agenda. Taking place as part of the 2014 IMF/World Bank Annual Meetings, the discussion will feature high level representatives from the Governments of Norway, Denmark, Bangladesh, the Philippines, and the World Bank in addition to Mr. Baker.
“Illicit financial flows are the most damaging economic problem facing the world’s poor,” said GFI President Raymond Baker, a longtime authority on financial crime. “Developing and emerging economies hemorrhage roughly a trillion dollars each year in illicit outflows, and roughly 80 percent of these outflows occur through the deliberate misinvoicing of trade transactions. Any sustainable approach to global development must address this problem. That is why we have called on the international community to ensure that the Post-2015 Sustainable Development Goals include a clear and concise target to halve illicit financial flows related to trade misinvoicing by 2030.”
Mr. Baker added: “We are happy that the World Bank has chosen to highlight this important topic during their influential annual meetings, and we look forward to discussing ways to curtail these devastating flows on Saturday.”
Hosted by the World Bank Group’s Integrity Vice Presidency, the forum—which will take place in Room L-101 of the IFC headquarters in Washington—will be streamed live on the World Bank’s website on Saturday, October 11th, 2014 from 1:00-2:30pm EDT (6:00-7:30pm BST).
The full list of panelists (in alphabetical order) currently includes:
- RAYMOND BAKER, President, Global Financial Integrity;
- HANS BRATTSKAR, State Secretary, Ministry of Foreign Affairs, Norway;
- MOGENS JENSEN, Minister for Trade and Development Cooperation, Denmark;
- MARIO MARCEL, Senior Director, World Bank Group;
- LEONARD MCCARTHY, Integrity Vice President, World Bank Group;
- DR. ATIUR RAHMAN, Governor, Central Bank of Bangladesh; and
- NENA STOILJKOVIC, Global Practices Vice President, World Bank Group.
Notes to Editors:
- Click here to read an HTML version of this media advisory on our website.
- Click here to learn more about the event on the World Bank website.
- Click here to watch the free live-stream of the event.
- The panel is currently scheduled to take place in Room L-101 of the IFC Headquarters Building in Washington, DC. Only registered participants of the 2014 IMF/World Bank Annual Meetings and credential journalists will be permitted access to the event in-person. Public registration for the meetings closed on September 22nd. Unregistered guests are encouraged to watch the live-stream of the event online and participate on Twitter using the #IllicitFlows hashtag. Journalists looking to attend the panel should contact Dina Elnaggar of the World Bank at firstname.lastname@example.org / +1 202 473 3245.
Global Financial Integrity
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The World Bank
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Global Financial Integrity (GFI) is a Washington, DC-based research and advocacy organization, which promotes transparency in the international financial system as a means to global development.
For additional information please visit www.gfintegrity.org.