African leaders, for decades dependent on handouts from the West because of natural disasters, conflict and uneven development, shunned the offer of charity, calling instead for “investment”.
Speaking after the summit, Macky Sall, the Senegalese president nominated to speak on behalf of the continent, said European leaders were not looking at the bigger picture.
OK, fine, more investment. Yes, why not?
He accused the European governments of pandering to “popular opinion” and claimed African governments would have no need for handouts if they were able to collect €60 billion lost through tax avoidance by multinational companies and other “fraudulent” activities.
And you want to get more investment by taxing investment more then, do you?
And of course we get a nutter commenting:
John Christensen, of the UK-based Tax Justice Network, said Mr Sall was “absolutely right” to highlight the loss of a “very significant” source of income.
“For decades we have encouraged these huge ouflows of capital from Africa, much of which is illicit, and this has led to a long-term underdevelopment of African countries,” he said.
It is of course bollocks that there has been capital flight from Africa. FDI appears to be running at $90 billion a year or so.