| 000 -LEADER | |
|---|---|
| fixed length control field | 01591nam a22001337a 4500 |
| 100 ## - MAIN ENTRY--AUTHOR NAME | |
| Personal name | Sauti ,Lazarus |
| 245 ## - TITLE STATEMENT | |
| Title | Capital Flight: Africa needs to track, plug financial leaks |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication | Windhoek |
| Name of publisher | Southern Times |
| Year of publication | 2014 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Number of Pages | 2p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | The article explores the effects IFFs have on African countries. The continent of Africa is bleeding, as it is losing a lot of money annually due to illegal financial flows .IFFs stifle Africa’s socio-economic progress by draining scarce foreign exchange resources, reducing government tax revenues, deepening corruption, aggravating foreign debt problems and impeding private sector development.IFFs have considerable repercussions in Africa and pose multiple threats. They drain resources and tax revenues by eroding the much-needed tax base for public investment and social spending. They also curb domestic savings, which are needed to reduce the continent’s annual US$31 billion infrastructure financing gap and to tackle climate change and youth unemployment. IFFs lead to governance issues, for example, by exacerbating inequality and by encouraging rent-seeking rather than productivity maximisation. IFFs weaken African states in their effort to mobilise domestic resources and transform the lives of citizens. “Illicit financial flows undermine the role of states in mobilising internal resources and therefore take a leading role in social transformation, |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical Term | CAPITAL FLIGHT, GOOD GOVERNANCE, TAXES, TAX EVASION, INEQUALITY |
| 856 ## - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | http://iffoadatabase.trustafrica.org/iff/capital_flight.pdf |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Koha item type | News Articles |
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