UN Monitor: COVID-19 Round-Up

The Financial Accountability, Transparency and Integrity (FACTI) Panel, a joint General Assembly and ECOSOC initiative established in early 2020, will hold a virtual consultation with Member States on 24 April. The Panel has made available an overview of existing mechanisms and a concept note of their work. Among their priorities will be addressing financial secrecy.

The Panel’s “Overview of Existing Mechanisms and Understanding Priorities” document notes that “moving from secrecy to transparency can improve accountability, but different countries and societies have different accepted transparency norms”.  It also recognizes the need for “further work on tax avoidance and evasion; preparing consistent and reliable global data on taxation”.