Big flaky misinvoicing numbers now seen as argument against aid. "Poor countries dont need charity". Because illicit financial flows..!https://twitter.com/guardian/status/820210337513357313 …
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Replying to @jasonhickel
but your "$1 in $24 dollars out" includes China, Russia, Saudia Arabia, Kuwait, Malaysia on the 'out' side?
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Replying to @MForstater
Yes, correct. For every dollar of aid the developing world receives, they lose $24 in net outflows. It is an aggregate figure.
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Replying to @jasonhickel
meaningless though: Aggregating small/poorer economies & large economies/ non aid recipients into 'they'
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Replying to @MForstater
My own country of Swaziland: $100mn in aid, $600mn in illicit outflows.
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Replying to @jasonhickel @MForstater
I know very little about this, but am interested. How confident are we about the size of these illicit flows?
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Replying to @_alice_evans @jasonhickel
Really not very (In more academic language: https://ideas.repec.org/p/zbw/darddp/227.html … https://www.wider.unu.edu/publication/capital-flight-and-development …)
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Replying to @MForstater @jasonhickel
even if smaller than some estimate, is it possible that illicit outflows are larger than aid inflows?
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Replying to @_alice_evans
In some countries certainly. But are different things - one is public money, other can be private. Its not a good comparator
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Replying to @MForstater
does that matter?
@jasonhickel says rich countries present selves as providing 'charity', while abetting & profitting from IFFs?2 replies 0 retweets 0 likes
I think better to get to specifics e.g. https://www.nytimes.com/2016/12/30/business/justice-department-tries-to-shield-repatriations-from-kleptocrats.html?_r=0 … rather than are we 'the good guys' or 'the bad guys'
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