Written by Michael Keating Wednesday, 12 May 2010 11:15
Michael Keating of the Geneva-based Africa Progress Panel comments on the illicit flow of capital from Africa, and what must be done to halt this hamorrhaging.
" Developing countries lose at least $10 through illegal fight capital for every $1 they receive in external assistance....."
Raymond Baker, Director of the Global Financial Integrity
The Africa Progress Panel produced a short animation in the run up to the launch of the Africa Progress Report 2010.
Geneva -- As part of the Annual Meeting of the Africa Progress Panel (APP) held in Geneva on the 3 and 4 of February, the APP organized a debate on Africa moderated by the BBC’s Zeinab Badawi. The debate aims to draw attention to the state of Africa in 2010: the year of the World Cup on African soil, the 10 year follow-up on the Millennium Declaration, and five-year post Gleneagles G8 Summit commitments. Four African panellists address these issues in front of an informed audience consisting of experts on African governance, economics, social and political affairs, including distinguished African and international figures.
Geneva -- ‘Fragile states’ are in the spotlight at the moment, in part because of the tragedy in Haiti. By most counts, over half the world’s fragile states are in Africa. 18 months ago, there was deep concern that the global financial crisis, coming on top of fuel and food price shocks, would result in widespread political instability and conflict. For tens perhaps hundreds of millions of people, particularly women and children, poverty has increased, lives and livelihoods been lost, and progress on the Millenium Development Goals (MDGs) been undermined. However, the worst fears have not been realized.