Pakistani's Prime Minister Nawaz Sharif is being asked to step down by a main political rival. This is after he has been included in the list of the Panama Papers that were leaked last week.
According to the latest reports, the Panama paper firm, Mossack Fonseca, has helped set up more than 1,000 offshore companies involved in tax evasion cases. It allegedly formed the companies since 2001 in the U.S.
The European Union pledged to impose sanctions against Panama and other tax havens if they fail to cooperate with investigations on money laundering and tax evasion.
Argentine President Mauricio Macri, who was named in the controversial Panama Papers, promised to declare all documents pertaining to his alleged involved in offshore holdings to prove his innocence.
