Africa and the Rich 'North' Are Still Squabbling Over How to Stem the Huge Illicit Capital Drain From the Continent

analysis

Africa loses at least US$50-billion a year in illicit financial flows - mainly dodgy tax practices and false invoicing of imports and exports. But there is not much agreement on who's most to blame or how to stop illicit financial flows.

Illicit financial flows (IFFs) - the illegal or unethical flight of capital - from Africa, remains a hotly-disputed issue three years after Thabo Mbeki alerted the world to what he said was a huge problem.

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