Indiary

Follow us
Stay Informed about the Latest News
Sign up to our newsletter
Back to Flash&Facts

We have tolerated high-level Corruption: we must now live with the consequences

Endemic corruption and endemic poverty are intimately linked.That is why we should not gloss over the massive corruption that enriches a significant number of politicians and high officials in some African countries. However, in this very delicate area, everyone should keep their own house in order, and that includes some European countries.Quite clearly, financial flows linked to such corruption go in both directions.The freezing of bank accounts and the seizure of properties belonging to officials or businessmen is very mediatized.But it masks the extent of the problem.High level corruption which is often corruption at state level is a burning issue for many countries that cannot invest in vital infrastructure and education.The migratory flow from the African continent towards Europe lies essentially in the poor governance prevailing in numerous regions. Poor governance, including bribery and corruption is clearly a key driver of migration.Young people who know that there is no future for them in their own countries are "voting with their feet".Illicit financial flows from developing and emerging countries are estimated at $970 Billion (Report GFI 2017-Fig.2014).This study underlines that Sub-Saharan Africa suffers the largest illicit outflows as percent of GDP. And a joint report by the African Development Bank and Global Financial Integrity estimates that up to 65% of the lost revenue due to such fraudulent practices disappeared in commercial transactions by multinational companies.The fraud mechanisms have long been identified.Yet, the fight against high level corruption has been a losing strategy. We believe that this is mainly because this battle against the powerful few remains paralyzed by political interference.

Post a comment

Please check that the information in the fields here below is correct.

Your comment is awaiting approval and will soon appear below!

Comments :

  • No comments
Created by BlueLeaf.ch