Two months ago, the Government of India announced a massive demonetisation exercise that effectively nullified 86% of the currency in circulation. Economist and Former Member of the Planning Commission of India, Professor Abhijit Sen speaks to Benny Kuruvilla of TNI about its failed attempt at curtailing black money. Sen further elaborates on its body blow to Indian agriculture and employment- both in the informal and formal sectors. With challenges looming on the domestic and international economic front, 2017 does indeed look bleak for the Modi Government.
Since its beginnings in 1989, the international anti-money laundering regime has not worked as well as intended. After two decades of failed efforts, experts still ponder how to implement one that does work. A bolder initiative is required at the United Nations level, moving from recommendations to obligations, and fully engaging developing nations.
Desde que se creó en 1989, el régimen internacional de lucha contra el blanqueo de capitales no está funcionando tan bien como debería. Tras dos décadas de esfuerzos fallidos, los expertos siguen estudiando cómo poner en práctica un sistema que funcione.
Más allá de las conclusiones de la cumbre de Cartagena consagrada a la lucha contra el narcotráfico conviene preguntarse cuáles son sus orígenes, sus rutas de tránsito, los Estados más vulnerables y la forma en que gigantescas sumas de dinero se licuan en los circuitos financieros legales.
How effective is the Anti Money Laundering (AML) regime that has been built over the past two decades, and the more recent attempts by states and international organisations to control tax evasion, capital flight and curb tax avoidance and harmful tax competition?
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