New UN study - Misinvoicing of commodities costs billions to developing world http://on.ft.com/29FUkZy via @FT
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. 2/2 "This suggests that underinvoicing [is due to] pure smuggling of gold out of the country."
paper estimates bns of misinvoicing in five countries, not bns of 'losses to developing world' Needs careful interpretation
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Oh come on! The losses for the five (developing) countries are clearly in the billions ... it's fair enough for
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e.g. the Swiss-Zambia numbers are not obviously losses but artifact of the way that exports recorded in Zam
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. But the Zambia chapter suggests substantial losses - in the billions
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