India Stole $ 344 Billions From The World

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. 1. China: US$1.08tn
2. 2. Russia: US$880.96bn
3. 3. Mexico: US$461.86bn
4. 4. Malaysia: US$370.38bn
5. 5. India: US$343.93bn
6. 6. Saudi Arabia: US$266.43bn
7. 7. Brazil: US$192.69bn
8. 8. Indonesia: US$181.83bn
9. 9. Iraq: US$78.79bn¹
10. 10. Nigeria: US$142.27bn
11. 11. Thailand: US$140.88bn
12. 12. United Arab Emirates: US$114.64bn²
13. 13. South Africa: US$100.73bn
14. 14. Philippines: US$88.87bn
15. 15. Costa Rica: US$80.65bn
16. 16. Belarus: US$75.09bn
17. 17. Qatar: US$62.82bn²
18. 18. Poland: US$49.39bn
19. 19. Serbia: US$49.37bn
20. 20. Chile: US$45.20bn
21. 21. Paraguay: US$40.12bn
22. 22. Venezuela: US$38.97bn
23. 23. Brunei: US$38.37bn²
24. 24. Panama: US$38.09bn
25. 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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