People's Debate Episode 3 | Offshore Wealth of Developing Countries: Impediment Towards Inclusive Growth
Economics Study Center and the EMK Center organized the third episode of ‘People’s Debate’ on Saturday, 23rd October, 2021. People’s Debate was launched in 2019 which brought together experts, professionals, and youth and encouraged freedom of expression on pressing issues. The third episode will address the issue of capital flight, offshoring the wealth of developing nations, tax evasion, and the impediments it imposes on attaining inclusive development in such nations.
The recent leak of financial documents has exposed massive stores of illicit wealth belonging to world leaders and billionaires (including names from India, Pakistan, and Nepal). Vast holdings in offshore banks and tax havens have created a global system that benefits elites and powerful corporations through tax avoidance schemes. It leads to worsening wealth disparities, depriving the poorer populations of vital public services and basic infrastructures like schools, hospitals, and roads. With recent revelations, it has become more urgent than ever to discuss the necessary regulatory preconditions for strong financial and economic development in these countries. The panellists of this session shed light on what enables illicit financial flows from developing countries and their consequences, and how we can build sound policies for more equitable income distribution within the economy.
Date: Saturday, 23 October 2021
Time: 7 PM
Dr Iftekharuzzaman, Executive Director, Transparency International Bangladesh (TiB)
Dr Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD)
Asif Iqbal, Joint Director, Bangladesh Bank
Rabiul Islam, Research Economist, RAPID
Event Link: https://fb.me/e/1fKvL5qKK
The Financial Express
Daily Bonik Barta
The Business Standard