[Thread] A few ppl have asked me @PennyMordaunt tweet "Money lost from Africa in illicit flows & corruption is estimated to be more than the world’s combined aid spending & lending for that continent. Just think what that money could do!" Is it true?https://twitter.com/PennyMordaunt/status/1035784059258109952 …
..or to look at a different bit of IFFs, tax information exchange & enforcement can uncover illicit (unreported) offshore wealth & collect tax on it. But the gross amount wont necessarily come back for investment. This is what happened in Indonesia re: accounts in Singapore.
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Coming up w a bit number and saying 'Just think of what the money could do!' suggests big, simple impacts. In practice it is harder and the impacts less direct. But I can see it fits the expectations ppl have come to expect for intl dev interventions! https://www.youtube.com/watch?v=MEb_epsuLqA …
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the estimates are sketchy & comparison with aid is not meaningful. On the other
crime & corruption are real & big: it is certainly right for the UK to act to prevent IFFs & return assets. Does it matter that these
s don't mean much? (2/)