Looting Africa: Some Facts and Figures
Source: Tax Justice Network for Africa
Africa's economies are often viewed as being in desperate need of external resources, dependent on inflows of foreign aid. In fact, recent estimates show that Africa is a net creditor to the rest of the world, with around 30% of sub-Saharan Africa's GDP being moved offshore. Tax havens and capital flight mean that Africa's wealth is flowing to bank accounts in Monaco, Switzerland, Jersey and London, with the collusion of some of the world's wealthiest countries and companies. This briefing identifies some facts and figures regarding: capital flight and African debt; tax evasion and avoidance; corruption; profit laundering and tax dodging.
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