Menu

More News

GFI Welcomes New U.S.-Africa Partnership to Combat Illicit Finance
August 7th, 2014
WASHINGTON, DC – Global Financial Integrity (GFI) welcomed the announcement from the White House and African leaders today regarding the establishment of a bilateral U.S.-Africa Partnership to Combat Illicit Finance, but the Washington-DC based research and advocacy organization cautioned that any effective partnership must be sure to address deficiencies in both the U.S. and in Africa that facilitate the hemorrhage of illicit capital from Africa. “We welcome the move by President Obama and certain African leaders to form this partnership on curbing illicit financial flows from African economies,” said GFI President Raymond Baker, who also serves on the UN...
Continue Reading
US-Africa Summit: One Day Left, Where Does Financial Transparency Fit In?
August 6th, 2014
obamaThis week, almost 50 Africa heads of state are in Washington to meet with President Obama for the largest summit ever between the US and Africa governments. But civil society leaders often are the ones holding their governments accountable, so it's imperative that they are involved in the process, as well. On Monday, the State Department hosted a forum for civil society organizations that featured Secretary of State John Kerry and Vice President Joe Biden.
Continue Reading
GFI Urges Obama, African Leaders to Prioritize Curbing Illicit Financial Flows at U.S.-Africa Summit
August 5th, 2014
WASHINGTON, DC – As African leaders descend on Washington this week for the historic U.S.-Africa Leaders Summit, Global Financial Integrity (GFI) called on the Obama Administration and Heads of State from across the continent to prioritize efforts to curtail illicit financial flows from Africa, which GFI estimates cost the continent roughly US$55.6 billion per year over the past decade. “Illicit financial outflows are by far the most damaging economic problem facing Africa,” said GFI President Raymond Baker, who sits on the UN High Level Panel on Illicit Financial Flows from Africa.  “In 2011 alone, US$76.9 billion flowed illegally out of Africa. ...
Continue Reading
Nigeria Has Potential, But Needs to Stomp Out Illicit Financial Flows First
July 25th, 2014
2363479089_f08f0f2033_zA new report out from the McKinsey Global Institute claims that Nigeria could be the next hotspot for economic growth and development. The firm says that, by 2030, the west African nation could become one of the world's leading economies. And it's true; Nigeria has seen an economic surge in recent years, thanks to massive oil exploitation, a burgeoning financial sector, and a huge population. In April, Nigeria even leapfrogged South Africa on its way to becoming Africa's biggest economy. But even with annual GDP growth at 7%, millions of Nigerians suffer...
Continue Reading
Follow @FinTrCo