Reuters: Illegal money flows from Africa near $90 billion, U.N. study says
GENEVA (Reuters) - Africa is losing nearly $89 billion a year in illicit financial flows such as tax evasion and theft, amounting to more than it receives in development aid, a U.N. study showed on Monday.
The estimate, in the United Nations Conference on Trade and Development’s (UNCTAD) 248-page report, is its most comprehensive to date for Africa. It shows an increasing trend over time and is higher than most previous estimates.
The report calls Africa a “net creditor to the world,” echoing economists’ observations that the aid-reliant continent is actually a net exporter of capital because of these trends.
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WNU Editor: Only $89 billion. For one year that is a small amount. But over 15 years we are talking big money .... Africa’s ‘lost $836bn through illegal transfers’.
More News On Africa Losing $89 Billion Per Year Through Tax Evasion And Theft
Africa could gain $89 billion annually by curbing illicit financial flows -- UN Trade and Development
Illicit capital robbing Africa and its people of their future: UN trade and development chief -- UN News
Illicit money flows from Africa near $89bn, UN study says -- Al Jazeera
4 comments:
I'? sure the US loses a cool 500bn through Chinese theft and tax evasion every year. I know Chinese who see paying taxes as something only idiots do. They then send the money back home, making our enemy stronger.
Where's the UN study on that actually? They don't seem to care about the largest wealth transfer(polite speak for theft and economic war) this planet has ever seen
Oh and where's the UN study on the Wuhan virus, which will have killed millions and millions before this is over?
The UN is worthless and I recommend to abandon this body. They do more harm than good, have no accountability, no oversight and are working actively against the US and Europeans
Politicians should be careful in spending any more money on them.
Agreed, anon. Like the clinton foundation, you'll never see a receipt for Motel 6 or a Happy Meal from McDonalds in their tax forms.
have you any idea how much wealthy Americans conceal tax-free offshore?
Read up in Panama Papers before thinking we are good and all others not so
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