Rich Countries’ Dirty Money
An estimated $1 trillion, almost one-third of Africa’s GDP, leaves developing countries annually, though the true size of hidden transfers is, by definition, almost impossible to ascertain. But one thing is clear: rich countries are also at fault for failing to do enough to track and prevent illicit financial flows.
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PARIS – The world is now less than a year away from the deadline to meet the United Nations Millennium Development Goals set in 2000. Extreme poverty has been halved, as promised. But more must be done to meet the health, education, environment, and gender-equality goals. What accounts for the lag in these areas?