Tagged: tax evasion
Inequality in Africa is rising to dangerous levels and unless checked will undermine the usefulness of economic growth on the continent.
Oxfam warns that in spite of the advances made in the last decade, Latin America and the Caribbean remains the region of highest wealth inequality in the world. Its elites continue to accumulate extreme wealth and excessive power.
Sweeping measures to improve transparency and governance are urgently needed to end a scandal that has seen Africa lose an average of $1 billion every week for the past 30 years in illicit financial flows.
If G20 nations were hit as hard by corporate tax dodging as Africa, they’d have a $1.2 trillion hole in their budgets.