Information service of the Pontifical Mission Societies since 1927
Luanda (Agenzia Fides) - Necessity to fight illegal financial flows, resulting from corruption and illegal export of natural resources, in order to fund the development of African countries. This is what the participants at the African Caucus invoked, a forum that brings together 19 African Finance Ministers and governors of 14 central Banks in Africa, which was held in Luanda, capital of Angola, from 25 to 28 August.
According to information sent to Agenzia Fides, due to the lack of resources to finance the development of the continent, Armando Manuel, Minister of Finance of Angola, urged to seek "other sources of funding".
The Countries of the continent, highly dependent on the export of raw materials, are affected by the fall in oil prices and the slowdown in global demand for minerals. In its report to the forum, David Robinson, Deputy Director of the International Monetary Fund has predicted cuts in state budgets of African Countries to cope with the crisis, with cuts in investment, reforms to subsidies for the purchase of fuel, tax increase, greater flexibility in exchange rates.
Could Europe, worried by the arrival of refugees but also of economic African migrants and non, lend a hand to African countries in tracking their financial institutions funds arising from African corruption and demand compliance with the rules in terms of corruption, tax evasion and smuggling? (L.M.) (Agenzia Fides 02/09/2015)
