In a sensational News Global Financial Integrity reported that India stole 343.93 Billion US $ from the World during the period 2002 to 2011, by way of illicit financial outflows.
It is not clear to me whether this information is biased as it is from a source being funded by Ford Foundation , which is suspect.
”
he developing world lost US$946.7 billion in illicit outflows in 2011, an increase of 13.7% over 2010. The capital outflows stem from crime, corruption, tax evasion, and other illicit activity.
The report finds that from 2002 to 2011, developing countries lost US$5.9 trillion to illicit outflows. The outflows increased at an average rate of 10.2% per year over the decade—significantly outpacing GDP growth.
As a percentage of GDP, Sub-Saharan Africa suffered the biggest loss of illicit capital. Illicit outflows from the region averaged 5.7% of GDP annually. Globally, illicit financial outflows averaged 4% of GDP.
China leads the world over the 10-year period with US$1.08 trillion in illicit outflows. However, 2011 marked the first time that Russia’s illicit outflows exceeded China’s, with a loss of US$191.14 billion against China’s US$151.35 billion. The previous methodology had significantly understated Russia’s illicit outflows, while it overstated China’s illicit outflows.’
The List.
- 1. China: US$1.08tn
- 2. Russia: US$880.96bn
- 3. Mexico: US$461.86bn
- 4. Malaysia: US$370.38bn
- 5. India: US$343.93bn
- 6. Saudi Arabia: US$266.43bn
- 7. Brazil: US$192.69bn
- 8. Indonesia: US$181.83bn
- 9. Iraq: US$78.79bn1
- 10. Nigeria: US$142.27bn
- 11. Thailand: US$140.88bn
- 12. United Arab Emirates: US$114.64bn2
- 13. South Africa: US$100.73bn
- 14. Philippines: US$88.87bn
- 15. Costa Rica: US$80.65bn
- 16. Belarus: US$75.09bn
- 17. Qatar: US$62.82bn2
- 18. Poland: US$49.39bn
- 19. Serbia: US$49.37bn
- 20. Chile: US$45.20bn
- 21. Paraguay: US$40.12bn
- 22. Venezuela: US$38.97bn
- 23. Brunei: US$38.37bn2
- 24. Panama: US$38.09bn
- 25. Turkey: US$37.28bn
Well ,it is a welcome change after nearly hundreds of years of India being looted.
By the way,where is this Money?
Swiss Banks?
Source:
http://iff.gfintegrity.org/iff2013/2013report.html
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Well good question, but there won’t be answers right now of any kind. L;et us wait for Mr. Modi to take over, then issue letter of Rogatory to concerned Govts. & one may know the details, if that is the only way, as said in the past. But will they tell the truth is another quesdtion.
Even if Modi wants to, he may not be able to follow up on this,
LK Advani could ot do it for black money in Swiss banks,