Stiglitz quits Panama's official money-laundering panel over internal sabotage

Nobel prize-winning economist Joseph Stiglitz has resigned from the Panamanian committee set up to probe the country's money-laundering industry in the wake of the Panama Papers leak, because the Panamanian government has reneged on its promise to publish the committee's findings and now says it will keep them secret.

"We can only infer that the government is facing pressure from those who are making profits from the current non-transparent financial system in Panama," Stiglitz said.

Commission member Alberto Aleman, former administrator of the Panama Canal, rejected assertions that the committee lacked transparency, and said the five remaining members, four of which are Panamanian, would continue their work.

"The report has to be delivered to the president of Panama, and then the president of Panama will decide when and how it will be made public," he said.

Exclusive: Stiglitz quits Panama Papers probe, cites lack of transparency
[Hugh Bronstein and Gram Slattery/Reuters]

(Image: Panama Papers, Sollok29, CC-BY-SA)

(via Naked Capitalism)