On financing for development, we need to lead against the wind- says Joseph Stiglitz

Abstract

Africa has the fastest growth as a continent, but is not happy as this is a growth without quality, said ECA Executive Secretary Carlos Lopes, stressing that African leaders want a very different take on ODA, which have become very little compared to their ambitions and less than remittances or Illicit financial flows (IFF) coming out of Africa. However, money transfers to Africa remain much more expensive than in the rest of the world, and tax evasion, rent seeking and badly handled negotiations for the extraction of natural resources reduce its resources further.