Sub-Saharan Africa lost over two trillion dollars to capital flight in five decades

Evidence

A report from the Political Economy Research Institute at the University of Massachusetts at Amherst shows that over the past five decades, thirty sub-Saharan African countries have lost more than 2 trillion to capital flight, which is almost the annual gross domestic product of sub-Saharan Africa. This hemorrhage has accelerated since the turn of the century, averaging 65 billion a year, a sum that far exceeds annual inflows of official development aid. — Clara E. Mattei, Escape from Capitalism, 301

Categorization

• XREF: connects to: Africa is a net creditor bleeding more wealth than it receives — Clara E. Mattei, Escape from Capitalism, 301