ActionAid Ghana, a Civil Society Organization is advocating the implementation of stringent policy reforms by the government of Ghana to curb the increasing threats of illicit financial flows (IFFs).
According to the organization, tackling IFFs through resilient reforms is crucial for the country’s to mobilizing domestic revenue, boosting investor confidence, and enhancing economic development.
Country Director of ActionAid Ghana, John Nkaw made the call in an interview with journalists on the sidelines of the National Civil Society Dialogue and Mobilisation on Financing for Development (F4D) in Accra.
He emphasised the fact that plugging revenue leakages through illicit financial activities could free up funds for investment in key sectors of the economy such as infrastructure, education, and healthcare.
“The more and more our taxes are piled to pay debts, the more and more social infrastructure are lost. We are talking about new schools, new hospitals, and providing water sources for women in rural places where they can spend less time going to fetch water.
“Government needs to embark on progressive taxations. Taxation that will ensure that the rich who can pay pay more so that government can pay for the gender responsive public services we are talking about.
“There is also the need for government to map out concrete mechanisms to address illicit financial flows which sees a lot of Ghana’s resources being plundered out of the country. In that way, government will be ensuring that a lot more investment will go into if you like food crop agriculture, he stated.
