Fragile States, Capital Flight and Tax Havens
Discussions at the G8 summit in June put tax reform at the top of the agenda. But negotiations related to increasing financial transparency often remain isolated from discussions of reform in fragile and conflict-affected states, such as the Arab world’s poorest country, Yemen. International aid flows to Yemen are dwarfed by outward capital flows, with tax havens facilitating capital flight.
Building on the findings of a new Chatham House Report, Yemen: Corruption, Capital Flight and Global Drivers of Conflict, the panel will examine the structural problems inherent within the global financial system and the impact this has on fragile states’ development, drawing on Yemen as a case study. They will also discuss how policy-makers plan to translate the commitments made at the summit in Loch Erne into greater global tax transparency.