Africa: Losing Billions Annually to Illegal Capital Flight
According to UNCTAD’s Economic Development in Africa Report 2020, every year an estimated $88.6bn, equivalent to 3.7 percent of Africa’s GDP, leaves the continent as illicit capital flight. Illicit financial flows (IFFs) are movements of money and assets across borders which are illegal in source, transfer or use, according to the report entitled “Tackling illicit …
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