A desperate and largely unknown humanitarian crisis is deteriorating in the Lake Chad Basin region of West Africa, forcing millions of people to flee their homes and leaving millions more in need of humanitarian assistance. Oxfam is providing life-saving support but help is urgently needed to prevent the crisis turning into a catastrophe.
International Finance Chiefs at the IMF-World Bank spring meetings
Oxfam’s Nicolas Mombrial said:
“The IMFC’s call on the IMF to focus on cross-border tax evasion and tax avoidance is very welcome.
“Tax dodging cripples the ability of developing governments to tackle inequality.
“Governments are being starved of vital resources for basic services.
“Revenue loss from companies dodging their tax payments hit poorer economies hardest. The problem for African countries is enormous. An average of $38.4 billion was lost to African countries annually through trade mispricing alone between 2008 and 2010.”
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