About: illicit financial flows

Botswana 29-09-2020

Africa loses $89 billion a year to illicit capital flight, UN report finds

African countries lose an estimated $88.6 billion each year, equivalent to 3.7% of the continent’s economic output, in illicit capital flight, according to the UN Economic Development in Africa Report 2020 published on Monday (28 September).
Botswana 02-06-2020

Africa hits back against EU’s name and shame game

The question of tax avoidance and financial information exchange remains a sore point for EU-African relations, and the European Commission’s annual lists of ‘non co-operative’ countries on tax and money laundering laws have done little to improve the situation.
EU-Africa 13-09-2018

Progress remains slow in bridging Africa’s tax divide

Increasing the tax take in African countries lies at the heart of the global development goals agreed by world leaders in 2014 and 2015. But progress towards meeting that goal has been slow.
EU-Africa 22-02-2018

Illicit financial flows cost Africa $50 billion a year, states new report

Illicit financial flows cost African countries at least $50 billion every year, more than the total development aid the continent receives, according to a new report by the OECD. EURACTIV.fr reports.
Euro & Finance 12-02-2016

Suspicious bank notes lead to Luxembourg

One third of all cash in circulation in the eurozone is now in the form of €500 notes. Suspicions have been raised over Luxembourg, which prints double its GDP in banknotes each year. EURACTIV France reports
Development Policy 11-09-2015

Piketty: EU must demand more transparency from companies in Africa

The European Union should require companies operating in Africa to disclose the taxes they pay there more transparently, to ensure they contribute fairly to government revenues, French economist Thomas Piketty said on Thursday (10 September).
Development Policy 10-07-2015

Tax evasion to dominate Addis Ababa development conference

Stopping tax evasion in the Global South is a crucial step in raising development finance, but the issue has divided the international community. EURACTIV France reports.