Stolen Funds Dwarf Development Aid - Mbeki Panel


The High-level Panel on Illicit Financial Flows from Africa, headed by former South African President Thabo Mbeki, says an estimated $50 to $60 billion is leaving the continent annually through tax evasion, mispricing of commodities and corruption. This is more than twice the amount of development assistance sub Saharan Africa receives from donors.


Illicit capital flows from the continent exceeds development aid, say Thabo Mbeki.