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TRANSPARENCY

Pieth supports recommendations from committee that he resigned from

Temas:

Swiss professor Mark Pieth, who resigned from the committee convened by Panama to propose reforms to its financial system after the Mossack Fonseca scandal, said the report delivered last month by the committee contains good recommendations.

"The challenge now is to implement them, that is the hardest part," said Pieth during the 17th International Conference Against Corruption, which is taking place in Panama. "I still think that assembling such a committee was a good idea, although I would have wanted it to be more international."

That objection was one of the reasons that motivated his departure from the committee. Joseph Stiglitz, a Nobel Laureate in economics, also resigned from the committee.

They were also concerned that the report would not be made public, something that President Juan Carlos Varela did a short time after receiving it.

After their resignations, Pieth and Stiglitz wrote their own report with global recommendations to combat the use of corporate structures and the financial system to hide assets.

In that report, they recommended the creation of public records that can be accessed by investigators and the implementation of global standards on transparency.

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