Lack of transparency, resulting in inadequate regulation, underpins the current global financial crisis, argues Charles Abugre. The secrecy ultimately hurts the poor and erodes the social contract that underpins government accountability to deliver to citizens.
The illicit extraction, concealment and channelling of capital from poor countries abroad destroys societies and must be curtailed. So how do we do this, asks Charles Abugre in the final article in a four-part series on the flow of ‘dirty money’.
How do multinationals and unethical companies conceal and move capital abroad? Mostly through manipulating import and export prices, writes Charles Abugre in Part 3 of a four-part series on the flow of ‘dirty money’.
Charles Abugre introduces ‘the web of secrecy, collusions and the players that drive and sustain the world of illicit money flows’, with reference to the ongoing case of Kenyan public officials Chris Okemo and Samuel Gichuru and multinational corporation Alcatel-CIT.
This week saw world leaders gathering in New York to review progress towards achieving the Millennium Development Goals. The solutions to meeting the goals, says Charles Abugre, are proven and cheap. And donor nations, African leaders and citizens must work towards a common future.