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World Bank Director: Panama Papers Revelations Hurt Economies

The Panama Papers revelations are hurting public trust and may make ordinary citizens more reluctant to pay the taxes needed to fund roads, schools and other government functions, says the second-ranking official at the World Bank. World Bank Managing Director Sri Mulyani Indrawati calls on policymakers to cooperate by crafting some stronger laws. Information leaked from a law firm based in Panama showed the efforts of wealthy people around the world to hide money and avoid...

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