16th July, 2021
Illicit financial flows inhibits development by worsening poverty and inequalities more especially in developing countries. The illicit practices do not only worsening poverty and inequalities but also have a great potential to undermine transparency and accountability in public service delivery, deprives resources intended to address challenges citizens might run into, reduces government revenue, threatens sustainable economic progression, and demoralizes international determination to uphold sustainable development, weakening social cohesion across and within countries among others.
Withal, tackling illicit financial flow is deemed to be the best and viable routine that can solely enrich economic status quo of developing countries, enhance good governance and financial integrity, strengthening rule of law, increase right-holders’ trust in state bodies, and necessitate the attainment of sustainable development goals just to mention a few.
With above captioned sentiments, MEJN on 15th July held an engagement meeting with chairperson of Parliamentary Committees lobbying for a National Parliamentary Caucus that would champion curbing the illicit Financial Flows in country and regionally; and also provide the path to financial integrity for sustainable development. The meeting also deliberated on fighting ” The Illicit Financial Flows” Money that is illegally generated, transferred and utilized and cross the boarders.
The meeting was being held with courtesy of Tax Justice Network Malawi