Editorial
In 2016, the world was treated to the release of what became known as ‘The Panama Papers’ — a literal treasure trove of documents which revealed the many ways in which the ultra-rich conceal their enormous holdings and duck paying taxes in their home countries, thereby depriving citizens of immeasurable amounts of money that would have gone towards the development of their people and respective countries. The papers, accessed by several organisations of investigative journalists, showed how lawyers, accountants and other business professionals based in Panama City designed and made use of offshore corporate entities to serve their clients in dodging all kinds of taxes. Documents numbered in the tens of millions and covered periods of more than twenty years. Particularly revealing was the number of ‘leaders’ of poor countries involved in the schemes — millions of ordinary people were shaken to the core, and they lost all confidence in those who, when campaigning, offered themselves to serve the people and make their lives better.
Now comes another disclosure, this time consisting of an even larger trove of documents with contents likely to have wide-ranging repercussions. The very labelling “The Pandora Papers” forewarns of what is likely to follow. People of St. Kitts and Nevis should take no comfort in the fact that our country has not been identified, at least not yet. But we are not in the clear. The island of Nevis in particular has been under international scrutiny for decades, and when the ‘bubble’ is pricked, it is very likely that there will be much weeping and wailing and gnashing of teeth. St. Kitts, too, will most likely come in for its full share. Remember, dear people, the many warnings which have been given about the Citizenship by Investment programme, as operated under the current government. That time appears to draweth nigh. So, too, does information about the money laundering scheme which was operated out of a certain consulate in Costa Rica. From ‘Panama to Pandora’ should open the eyes of us all.