Although the estimations of illicit finance vary greatly, there is a consensus on the negative impact of international illicit flows on developing countries, and financial transparency is gaining momentum in the post 2015 development agenda. Europe Beyond Aid uses the Commitment to Development Index (CDI) to examine Europe’s collective pursuit of development friendly policies. The finance component of the CDI looks at rich countries’ policies with regards to supporting financial transparency home and globally.
Organised by the Center for Global Development (CGD) and the Elcano Royal Institute, the seminar will discuss the draft of a new CGD paper entitled: ‘Illicit financial flows: Policy responses in Europe and implications for developing countries’ written by Iliana Olivié and Aitor Pérez, analysts at the Elcano Royal Institute. It will further discuss the implications of European policy for the world’s poorest countries, the underlying policy framework, and policy recommendations for European institutions and member countries. The meeting will be chaired by Owen Barder, CGD Senior Fellow and Director for Europe.