ramanan50

India Stole $ 344 Billions From The World

In India on December 12, 2013 at 07:12

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.

India Steals?

Does India Steal from the World?

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

 

 

About these ads
  1. 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.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 2,924 other followers

%d bloggers like this: