Africa's Missing Millions: Illicit Financial Flow (London)
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Dev Kar (Global Financial Integrity)
By 2008 Africa had lost upwards of $854bn in illicit capital outflows – twice as much as its inflows of development aid. According to some estimates, the actual figure may be as high as $1.8 trillion. Mispricing and transfer pricing by companies are among the main culprits, finds Dev Kar, author of the report.
Dev Kar is the Lead Economist at Global Financial Integrity, a Washington DC-based...Read more