Prime Minister Imran Khan has welcomed United States President-elect Joe Biden’s intentions to bring transparency to the global financial system.
Sharing a Foreign Policy article, PM Imran Khan said he welcomed Biden’s intent of a policy targeting dirty money. “Developing countries are being impoverished by their corrupt elites who launder money to richer countries and offshore tax havens,” he said.
In an essay for Foreign Affairs, Biden said he would “lead efforts internationally to bring transparency to the global financial system”.
The Democrat outlined going “after illicit tax havens, seize stolen assets” and making “it more difficult for leaders who steal from their people to hide behind anonymous front companies”.
His choice for National Security Advisor, Jake Sullivan echoed the same sentiments when he told Politico that his loftiest goal was “to rally our allies to combat corruption and kleptocracy, and to hold systems of authoritarian capitalism accountable for greater transparency and participation in a rules-based system.”
In September, while addressing to the United Nations International Financial Accountability, Transparency and Integrity (FACTI) panel, PM Imran called upon countries he termed “tax havens” to “adopt decisive actions” and return wealth looted from developed countries.
“We welcome the interim report of the FACTI panel. The figures […] mentioned in the report are staggering,” the premier had said.
He said that $1tn is taken out each year “by these white-collar criminals”.