Africa loses more in IFFs than it gains from development aid – Experts
At the event, Coumba Touré, the Chairperson of TrustAfrica Foundation, said IFFs in excess of $50 billion leave the African continent annually to tax havens.
Mr Sali also said there is need for more research into government practices and the effects of the policies that are being adopted to mitigate IFFs. He also said “the amount involved when it comes to IFFs are very staggering and often difficult to track and trace. Where the funds are traced, repatriation of the funds have proved very difficult.”
Representing the Senegalese Minister of Economy, Finance and Planning at the meeting, Oumar Diallo said repatriation of the proceeds of IFFs to countries was still a major issue. He also spoke on building the capacity of institutions and the need for the private sector and civil society to support governments in the IFFs fight.
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