Conference: Corruption and Cross-Border Financial Flows: The Political-Economy of International Standard Setting

Abstract

Almost a year ago I became a member of a panel set up at the initiative of the UN General  Assembly and ECOSOC —the Economic and Social Council. It is called FACTI— Financial Accountability and Transparency Initiative. It focuses especially on the way the Sustainable Development Goals can be undermined by financial flows that leave many countries with little to show their own people for investments from abroad and for public infrastructure procurement at home.1 We have the assistance of a small secretariat, and we have been meeting via zoom both as a panel and with a wide range of interested individuals and stakeholders. The panel is an international group chaired by former presidents of Niger and Lithuania. We have only the power of the bully pulpit, but we hope to have an impact, given both the urgency of achieving the SDGs and weaknesses of the international integrity system.