Abstract
This premier Economic Governance Report (EGR I) assesses the institutional architecture pledged by African governments for blocking illicit financial flows (IFFs) and recommends initiatives to strengthen it. The report’s findings indicate that IFFs continue to thrive, though African countries have tried to establish dedicated institutional frameworks for combatting them in the main channels of trade, investments and financial flows. The IFFs include corruption, money laundering, trade mis-invoicing to move money illicitly and tax fraud (including corporate tax dodging). The report encourages more inter-agency collaboration, coordinated reporting, the removal of duplicated and competing mandates, and consistent political support for institutional reforms to combat IFFs.
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