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Increasing international support for the Yaoundé Declaration and the fight against IFFs

 

The 5th African Union and European Union summit held on 29-30 November 2017 in Abidjan, Côte d’Ivoire, has also recognised that international cooperation is key to combat illicit financial flows and tax avoidance. In their joint declaration the African and European leaders “commit to […] promote international cooperation in line with the current internationally agreed standards to combat illicit financial flows and tax avoidance and evasion […], in order to foster sustainable development, particularly in light of the declaration by the Assembly of the African Union of 2018 as the year of “Winning the Fight Against Corruption: A Sustainable Path for Africa’s Transformation”.

 

In the Foreign Policy and Development Compact signed at Sandhurst, on 18 January 2018 the Secretary of State for Foreign and Commonwealth Affairs and the Secretary of State for International Development of the United-Kingdom as well as the Minister for Europe and Foreign Affairs of France announced that they “will explore a joint approach to promoting international tax transparency to strengthen domestic resource mobilisation in developing countries, building on the call to action made by African Ministers of Finance in the Yaoundé Declaration in November 2017”. During their joint press conference, President Emmanuel Macron and Prime Minister Theresa May highlighted the compact and their strategy aiming to have a common action, particularly in Africa.

 

At its 30th Ordinary session held on 28 – 29 January 2018, Addis Ababa, Ethiopia the Assembly of the African Union has encouraged its “Member States to continue with their efforts to robustly combat corruption [and] take measures to arrest illicit financial flows”.

 

In their communiqué dated 13 April 2018, the 16 Ministers of Finances of the Zone Franc gathered in Brazzaville, Congo,  have brought or reiterated their support to the Yaoundé declaration. The Zone Franc is composed of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, France, Gabon, Guinea Bissau, Equatorial Guinea, Mali, Niger, Senegal and Togo.

 

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