New York – Liberia’s Ambassador Extraordinary and Plenipotentiary and Permanent Representative to the United Nations, His Excellency Ambassador Dee-Maxwell Saah Kemayah, Sr., says strong political will from Member States is needed to address the problem of illicit financial flows. Ambassador Kemayah told a High-Level United Nations General Assembly Meeting on Illicit Financial Flows, that nationally and internationally, there are numerous initiatives and frameworks to mitigate illicit financial flows; but stressed that strong political will, as being exhibited by His Excellency Dr. George Manneh Weah, President of the Republic of Liberia was critical to ensuring success. Said Ambassador Kemayah: “It is not that we lack the initiatives or frameworks in our efforts to mitigate Illicit Financial Flows; rather, it is the lack of strong political will by Member States of the United Nations that is hindering our achievements in this endeavor. “The 2015 Report of the African Union /United Nations Economic Commission for Africa (AU/UNECA) High-Level Panel on Illicit Financial Flows referred to as the “Mbeki Report” suggests that, at a conservative estimate, Illicit Financial Flows (IFFs) from the continent of Africa amount to between Thirty to Sixty Billion United States Dollars (US$ 30 and 60 billion) per year. The “United Nations General Assembly (UNGA) High-Level Meeting on International Cooperation to Combat Illicit Financial Flows and Strengthening Good Practices on Asset Recovery and Return” convened in New York on Thursday, May 16, 2019.

Source: Front Page Africa May 21, 2019 22:52 UTC