Ghana Loses Billions to Illicit Financial Flows

Ghana is losing billions of dollars annually to illicit financial flows (IFFs), according to economist Dr. Bishop Akologo.

These illegal financial transfers, which include corruption, money laundering, and tax evasion, are hindering the country’s economic development and exacerbating inequality.

The Global Financial Integrity report highlights the significant losses incurred by Ghana, particularly in the areas of trade mispricing and tax evasion.

These funds could be used to finance essential public services like education, healthcare, and infrastructure.

To combat this issue, journalists are being urged to play a crucial role in raising awareness, investigating illegal activities, and advocating for policy changes.

By exposing IFFs and holding accountable those involved, journalists can help to curb these practices and ensure that public resources are used for the benefit of all Ghanaians.