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Stiglitz: Panama is avoiding real change

Temas:

Nobel laureate in economics Joseph Stiglitz has said in an interview with Vanity Fair magazine that Panama is avoiding making changes in the wake of the scandal surrounding the leak of the internal documents of the firm Mossack Fonseca.

"It gradually became clear that the government, with the assistance of some Panamanian members of the committee, had another purpose instead of reforming the financial system in a transparent manner. What they really wanted was to obtain the positive glow of a public announcement while they avoided making real change," said Stiglitz in the article.

The American economist was named to a committee that the government formed shortly after the scandal to examine its financial system. But he resigned from the committee a short time later, saying the government refused to meet his demand that the report be immediately released to the public instead of being reviewed first by the government.

The American economist said there was a "conspiracy" between the Panamanian members of the committee and the government.

"There was a secret agenda," said the economist.

Stiglitz also noted that Panama had already made the regulatory changes required by international agencies to address issues within its financial industry, but he claimed that the problem is not in passing the laws, but in making sure they are followed.

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