A recent World Bank reportThe Changing Wealth of Nations 2018, offers evidence of how much poorer Africa is becoming thanks to rampant minerals, oil and gas extraction. Yet World Bank policies and practices remain oriented to enforcing foreign loan repayments and transnational corporate profit repatriation, thus maintaining the looting.

WTO

There were at least two strong indicators of the paralysis of the 11th World Trade Organization Ministerial Conference in Buenos Aires. One was the Argentine government's revocation of the accreditation of 64 representatives from 19 civil society organisations. And the second is that there was no Ministerial Declaration coming out of Geneva.

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Many African regimes today simply avoid the demands of good governance, ignore the rule of law and commit gross violations of human rights in the belief that Western aid will always bail them out of their chronic budget deficits. Stated simply, Western taxpayer dollars provide the fail-safe insurance policy for the survival and persistence of failed regimes in Africa. That is exactly Nana’s point.

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Africa’s share of global trade remains insignificant because it faces numerous challenges: customs procedures, a lack of infrastructure and information as well as poor market integration. While there are expectations that the EU trade policy and the WTO negotiations could improve Africa’s trade, there is an increasing need for African countries to consider other alternatives for trade performance.

Deloitte

Deloitte says it wants to fight tax evasion, and yet they give advice on how to divert money. The audit firm has been trying to woo investors to use its services, with the promise of multiple tax advantages for their projects in Africa, thus each year depriving the poorest states of the world of hundreds of billions of dollars in revenue.

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