“Poverty in Africa cannot be understood without understanding the role of offshore. The world’s worst war for years has been the civil conflict in the Democratic Republic of Congo, which is tied in with the wholesale looting of its mineral resources via tax havens,” he writes.
The amount of money in tax havens has been estimated at $11.5 trillion by the Tax Justice Network, a respected and independent advocacy group that monitors such trends. Much of it is money that has been channeled illicitly to the developed world from the developing world and by some estimates exceeds the amount of aid that goes into regions such as Africa".........a must read........read it here
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