Thursday, November 23, 2017

Nobel Laureate Stiglitz Leaves Panama Finance Committee

By on August 6, 2016

Panama President Juan Carlos Varela, right, shakes hands with Nobel economics laureate Joseph , as Mark Pieth, a professor of criminal law and criminology at the University of Base, looks on, in Panama City, Friday, April 29, 2016. The government of Panama has established a committee of independent experts to make recommendations on cleaning up the country's financial system, after leaks of documents from the Panamanian law firm Mossack Fonseca caused an international uproar over offshore accounts. The advisory group includes Stiglitz and Pieth. (AP Photo/Arnulfo Franco)

Panama President Juan Carlos Varela, right, shakes hands with Nobel economics laureate Joseph , as Mark Pieth, a professor of criminal law and criminology at the University of Base, looks on, in Panama City, Friday, April 29, 2016. (AP Photo/Arnulfo Franco)

PANAMA CITY – Nobel economics laureate Joseph Stiglitz has quit a committee set up by Panama’s government to study the country’s financial system following the leak of a trove of data about offshore accounts set up by a Panamanian law firm.

Panama’s foreign ministry said Saturday that Stiglitz resigned over “internal differences” that it did not explain. Swiss law professor Mark Pieth also resigned.

The committee of experts was set up in April following the international uproar over the leak of the so-called “Panama Papers” revealed details on offshore accounts that helped foreigners shelter their wealth.

The panel is supposed to give recommendations on making it more difficult for people to use Panama’s financial services sector for illegal activities.

Four experts continue to work on the committee.

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