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From: Biniam Tekle (biniamt@dehai.org)
Date: Tue May 10 2011 - 08:10:50 EDT
*Illicit Financial Flows from the Least Developed Countries (LDC) 1990-2008*
http://content.undp.org/go/cms-service/download/publication/?version=live&id=3273649
**[04/05/11] This paper explores the scale and composition of illicit
financial flows from the 48 LDCs. This issue has been recognised by the UN
as important for development and the MDGs. Illicit capital flight is a major
hindrance to the mobilisation of domestic resources for development. Through
the UN, the international community has committed to strengthen national and
multilateral efforts to address it ...
This paper explores the scale and composition of illicit financial flows
from the 48 Least Developed Countries (LDCs). Illicit financialflows involve
the cross-border transfer of the proceeds of corruption, trade in contraband
goods, criminal activities and tax evasion. In recent years, considerable
interest has arisen over the extent to which such flows may have a
detrimental impact on developmentand governance in both developed and
developing countries alike.
This issue has been recognised by the UN as important for development and
achievement of the Millennium Development Goals(MDGs). Illicit capital
flight, where it occurs, is a major hindrance to the mobilisation of
domestic resources for development. In many cases, it significantly reduces
the volume of resources available for investment in the MDGs and productive
capacities. Through theUnited Nations, the international community has
committed to strengthen national and multilateral efforts to address it. As
the
deadline for achievement of the MDGs draws closer, it is vital understand
more about the nature of this problem and to explorepossible policy
solutions, especially for those countries furthest off-track towards the
MDGs ...
Keeping in mind that data on 14 LDCs (Least Developed Countries) are spotty
or entirely missing and assuming that illicit outflows from countries
inconflict such as Afghanistan and Somalia do not disturb the rankings,
Chart 4 shows that the top ten exporters of illicit capital during the
period 1990-2008 are Bangladesh (cumulative outflow US$34.8 billion), Angola
(US$34.0 billion),Lesotho (US$16.8 billion), Chad (US$15.4 billion), Yemen
(US$12.0 billion), Nepal (US$9.1 billion), Uganda (US$8.8 billion), Myanmar
(US$8.5 billion), Ethiopia (US$8.4 billion), Zambia (US$6.8 billion) and
Sudan at US$6.7 billion. Of this listof LDCs with the ten highest levels of
illicit outflows, six (Chad, Ethiopia, Lesotho, Nepal, Uganda, and Zambia)
are landlocked while four (Angola, Bangladesh, Myanmar, and Yemen) are
neither small islands nor landlocked ...
for full report
http://content.undp.org/go/cms-service/download/publication/?version=live&id=3273649
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