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Illicit Financial Flows Out of the Developing World Overwhelm Foreign Aid
January 7, 2009Global Financial Integrity (GFI) released today a study estimating the annual value of illicit financial flows from all poor nations at approximately $900 million. Titled "Illicit Financial Flows From Developing Countries: 2002 - 2006," (http://www.gfip.org/) the ground-breaking report shows that the developing world is losing an increasing amount of money through illicit capital flight each year. Moreover, the value of the illicit flows surpasses the amount of Official Development Assistance (ODA) entering those countries by an order of magnitude. Full release