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Illicit money outflows are draining Africa's domestic resources, depriving it of crucial investment funds. Read more »
Africa #1 Victim As Illicit Financial Flows Mount Worldwide
Illicit capital flows out of developing and emerging economies reached a record level in 2012, according to the latest study released by the Washington, DC-based research group, Global Financial Integrity (GFI). Africa is the world region suffering the largest losses, in terms of percentage of GDP, as documented in the ten-year study.
InFocus
Africa incurs more losses, in percent of GDP, from illicit outflows out of developing and emerging economies than any other region, Global Financial Integrity says in a study issued December 2014.
Documents
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15 December 2014
Illicit Financial Flows from Developing Countries: 2003-2012 [Executive Summary]
- Publisher:
- Global Financial Integrity
- Publication Date:
This December 2014 report from Global Financial Integrity, "Illicit Financial Flows from the Developing World: 2003-2012," finds that developing and ... see more »
Losses for developing and emerging economies have risen steadily, reaching a new record in 2012, according to a report issued by Global Financial Integrity, “Illicit Financial Flows from the Developing World: 2003-2012.”
InFocus
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"Illicit financial flows are unrecorded capital flows derived from: (a) proceeds of theft, bribery and other forms of corruption by Government officials; (b) proceeds of criminal ... Read more »
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Domestic resources should be mobilized to bring about inclusive development in Africa, particularly by stopping the illicit flow of money out of the continent, writes AllAfrica ... Read more »
