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CGD Policy Blogs

 

Stop Spreading the Myth: Zambia Is Not Losing $3 Billion to Tax Avoidance

If transparency in debates around matters of natural resource wealth, then so too does the way that figures get translated into public debates.  Earlier this month the Lusaka Times published a claim that multinational mining companies were “robbing Zambia of an estimated $3billion annually through tax evasion and illicit financial flows.” I have written about the Zambia Copper Billions before. I don’t think the figure is at all credible, and I am not the only one. Organisations that have allowed this myth to spread have not done any favours to the people of Zambia, and they have a responsibility to put it right. 

The IMF on Protecting the Poor during Fiscal “Consolidations”: Better Late Than Never

Inequality and inclusive growth were high on the agenda of the Annual Meetings of the International Monetary Fund and World Bank earlier this month. We are glad about that, but the under-reported story here is that this prominence marks a dramatic shift in the IMF over the last two decades in the IMF’s approach to the relevant challenges for the poorest countries, including on the issue of social safety nets and social expenditures.