Summary
On April 3, the Panama Papers hit media outlets around the world, and the fallout was swift. A prime minister lost his job, and other global leaders are under mounting pressure to account for their actions. But the effects of the leaks are not evenly spread; the documents contained far more information about the offshore activities of individuals in the developing world than in the developed world. Whatever the reasons for the imbalance, it will likely limit the papers’ impact. In the developing world, long histories of corruption have dulled the public’s sensitivity to scandal, and repressive governments leave little room for popular backlash. Continue reading