The African continent incurs losses of about $ 89 billion annually through illicit financial flows such as theft and tax evasion, an amount greater than the development aid that the continent receives. / p>
According to Reuters, this estimate, which was reported in a report by the United Nations Conference on Trade and Development (UNCTAD), is the most comprehensive so far on Africa, and shows an increasing trend Over time, higher than most previous estimates.
The report describes Africa as a net creditor to the world, echoing observations by economists that the aid-dependent continent is in fact a net source of capital.
UNCTAD Secretary-General Mukhisa Kitwe said illicit financial flows are stealing the potential of Africa and its people, undermining transparency and accountability, and diminishing confidence in African institutions.
The report said that about half of the annual total of $ 88.6 billion that Africa is losing is due to figures less than the real value of commodity exports such as gold, diamonds and platinum.
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Addressing illicit money flows is a priority for the United Nations, whose General Assembly adopted a resolution in this regard in 2018.
