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Illicit Cash Flows Hurting African Economies

Researchers working with the African Development Bank say that African countries have lost as much as $1.4 trillion in cash leakages over the last 30 years. Much of the lost money is a result of illicit cash flows and corruption, and continues to hinder development in the region. The amount of illicit cash flowing out of Africa has nearly doubled over the past three decades. Illicit cash flows refer to funds leaving a country through irregular means, often to skirt local taxes....

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