Opinion: There Is No Development Without Financial Transparency, By Léonce Ndikumana
as having “strategic deficiencies” by the Financial Action Task Force , an international standard setter of anti-money laundering policy.
Of course, we must remember that the biggest contributors to global secrecy are not African countries. Members of the Organisation for Economic Cooperation and Development are responsible for 49 per cent of all financial secrecy in the world, as measured by FSI in 2020.
Financial transparency is also a political emergency. By continuing to turn a blind eye to corruption and tax evasion and by persisting in responding to the lack of fiscal resources through austerity programmes, governments jeopardise their legitimacy in the eyes of the population…
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