Government Commission on capital flight from poor countries

Today the Government appointed a commission to examine the link between tax havens and captial flight from poor countries. The commission is to be chaired by Professor Guttorm Schjelderup.

The members of the commission will include corruption fighter Eva Joly and other Norwegian experts on international finance, anti-corruption issues, fund management and international development policy. The commission will meet for the first time in August and is scheduled to submit its recommendations to Minister of the Environment and International Development Erik Solheim next summer.

“Poor countries are being drained of enormous sums of money that are hidden away in tax havens. As a major aid donor, we cannot turn a blind eye to this. I am proud that the commission is now in place,” said Mr Solheim.

Total international development assistance is limited compared with the sums that disappear from poor countries, for example due to corruption and tax evasion.

“The commission will examine how we can prevent large sums of money being taken out of the countries and hidden away in tax havens. This is an important aspect of the fight against poverty,” said the minister.

The members of the commission are:

• Professor Guttorm Schjelderup, Norwegian School of Economics and Business Administration
• Director Jon Gunnar Pedersen, Arctic Securities
• Director Odd-Helge Fjeldstad, U4 Anti-Corruption Research Centre
• Senior Public Prosecutor Morten Eriksen, Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime
• Secretary General Marte Gerhardsen, Care Norway
• Investment Manager Lise Lindbäck, Vital Forsikring ASA
• Municipal Director Anne Fagertun Stenhammer, Faukse municipality
• Professor Alexander Cappelen, Norwegian School of Economics and Business Administration
• Professor Ragnar Torvik, Norwegian University of Science and Technology
• Special Adviser Eva Joly, Norad

The commission is not mandated to assess the administration of the Government Pension Fund - Global.

Press contacts:
Head of Information Trond Viken in the MFA (for Solheim og Schjelderup), mobile phone 992 18 303.
Information Adviser Gerd Stensby in Norad (for Joly), mobile phone 977 14 966.