Tackling IFFs, revenue mismanagement and corruption top of UN chief’s list for transforming extractive industries
Addressing illicit financial flows (IFFs), revenue mismanagement and corruption is one of four imperatives highlighted by UN secretary-general António Guterres that must be enacted to ensure that the benefits of mineral resources reach all people in society, not just elites, while safeguarding the natural environment….
UN agencies finalise framework to measure illicit financial flows
The United Nations Conference on Trade and Development (UNCTAD) and the United Nations Office on Drugs and Crime (UNODC) have finalised a conceptual framework for the statistical measurement of illicit financial flows (IFFs). Pilot projects are either underway or due to commence soon using the new framework…
UNCTAD and ZRA mineral tracking tool now available for other countries
A mineral tracking system employing a data evaluation tool designed by the United Nations Conference on Trade and Development (UNCTAD) and the Zambian Revenue Authority (ZRA) helped Zambia recover an additional US$1 million in export dues from mining companies in one year. The system, which…
UNCTAD publishes extensive report on IFFs out of Africa
The United Nations Conference on Trade and Development (UNCTAD) has published an extensive study into illicit financial flows (IFFs) out of Africa that it estimates to amount to around US$89 billion annually. The report argues that IFFs are a shared responsibility between developed and developing…
