Illicit financial activities against Africa exceeds aid – UN chief

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UN Secretary-General Antonio Guterres has decried the implications of illicit activities against Africa, saying it is more than the international aid flow into the continent.

Guterres said at the inaugural Global Engagement and Empowerment Forum on Sustainable Development at Yonsei University in Seoul that the situation was against the rapid development if the continent.

 

The UN chief urged the international community to strengthen their fight against tax evasion, money laundering, and illicit flows of capital.

“For instance, in Africa, these illicit activities account for more than total Official Development Aid that flows into the continent, Guterres said.

He cautioned against rising inequality across the globe and said that this feeling of being “left behind” undermined the confidence of people, communities and regions, in governments as well as international…



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