Using Illicit Financial Flows to increase accountability

In 1994, Illicit Financial Flows (IFFs) were a major threat to South Africa’s development agenda. Today, Africa’s huge external debt problem can be partially blamed on lost revenue due to illicit flows. A United Nations Economic Commission for Africa(UNECA) report noted that Africa's external debt stood at $279 billion in 2008 and that debt constituted a third of the amount lost to IFFs at that time. Yet how do we define Illicit Financial Flows and what can be done to tackle this growing issue?
No votes yet
Corruption Problem: