Fighting tax evasion, preventing trade-based illicit financial outflows and ending the culture of money laundering and loan defaults is a much more sustainable solution to adding to foreign exchange reserves than taking foreign loans on interest.
Two weeks after the brutal Russian invasion of Ukraine, how it may eventually evolve remains uncertain, given Russia’s President Vladimir Putin’s apparent mission of neutralising the neighbour—which could imply virtual annexation.
According to the latest report of the US-based NGO Global Financial Integrity (GFI) on trade-based illicit financial transfers, between 2009 and 2018, Bangladesh lost a staggering USD 8.275 billion (Tk 71,000 crore) per year, on average, through misinvoicing in export and import trade.
December 9 is observed as the International Anti-corruption Day (IACD). On this day in 2003, the United Nations called upon governments and peoples of the world to mark the adoption of the UN Convention against Corruption (UNCAC).