Guillaume Long, Ecuador’s foreign minister, will travel to the Vatican on Thursday to propose a global end to tax havens. He issued as statement saying that “We need an ethical economy, an economy that puts people first. Tax havens are the opposite of an ethical economy. These concentrate wealth in the hands of few and undermine development. We have therefore launched the Ethics Pact in Ecuador and we hope to advance a global debate on how we can eradicate this immoral practice”.

His visit will be a week after Ecuadorean President Rafael Correa applied to the Constitutional Court for a referendum to prevent any holders of companies or capital in tax havens to be elected or public officials at all levels in a new “Ethics Pact.”

The proposal for the removal of these areas of tax evasion, will be presented at the United Nations General Assembly held in September in New York.

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