FROM POVERTY TO POWER
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Poor countries are losing $1 trillion a year to illicit capital flows – 7 times the volume of aid
December 16, 2013
I was surprised not to see more coverage of last week’s hard-hitting report from the Global Financial Integrity watchdog. Illicit Financial Flows from Developing Countries: 2002-2011 has a whole bunch of killer facts about the escalating haemorrhage of wealth from poor countries. Here are some highlights. My additions in square brackets/italics: “We estimate that illicit financial outflows from the developing
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