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Vol 48 No 6

Published 16th March 2007

Measuring the dirty money

Transparency International estimates that Africa's political elites and their foreign business allies hold US$700-800 billion in offshore accounts - outside Africa. These transactions are facilitated by a pinstripe army of mainly Western bankers, lawyers and accountants using a network of tax havens in wealthy jurisdictions. The most important ways of shifting capital from Africa are the mispricing schemes, identified by Raymond Baker and others.

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