This a report by the panel, in response to the challenges faced in financing development in Africa which proved to be difficult in the past, compelling the continent to rely on external sources including overseas development assistance .The High-level Panel on Illicit Financial Flows was established in 2012 by the Economic Commission for Africa (ECA) and the African Union Commission (AUC), at the request of participants at the Fourth Joint Annual Meetings of the ECA Conference of African Ministers of Finance, Planning and Economic Development and AUC Conference of Ministers of Economy and Finance, which was held in March 2011. The Panel will present its final report in January 2015 at the twenty-fourth ordinary session of the Assembly of the African Union. The report is based on rigorous research, country case studies and regional consultations within and outside Africa.
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