Capital Flight

The Origins of Venezuela's Economic Crisis

The Origins of Venezuela’s Economic Crisis

April 2, 2019

Venezuela has become a popular argument against socialism amongst conservatives because of the deep economic crisis it is currently traversing. Defenders of the Bolivarian project, though, say that US sanctions and economic war are to blame for the crisis. Greg Wilpert presents an analysis that tries to take all the factors into account

Angola, Côte d’Ivoire, South Africa, Misinvoicing, Capital Flight, Illicit Trading, Exploitation, Africa

How Kleptocracy Impoverishes Angola, Côte d’Ivoire, and South Africa

February 17, 2019

Léonce Ndikumana discusses his newest research on capital flight from Angola, Côte d’Ivoire and South Africa between 1975 and 2015. 290 Billion dollars were funneled out of these countries over this period through misinvoicing and circumventing regulation and taxation. Most of that money ended up in corporations in the global north

Michael Hudson: Argentina’s New $50 Billion IMF Loan Is Designed to Replay its 2001 Crisis

July 23, 2018

The recently elected neoliberal government of Mauricio Macri has decided to seek a $50 billion IMF credit line, which will only enable more capital flight for the upper class and greater unpayable debt for the rest of the population, says the economist Michael Hudson

Capital Flight From Africa: How the Poor Finance the Rich

March 1, 2018

A new World Bank report comparing economic growth among different regions in the world ignores key factors in addressing wealth and inequality in Africa–particularly the wealth that is stashed offshore in developed countries, says economist and author Leonce Ndikumana

Remembering Mandela

December 5, 2013
Patrick Bond: Mandela deserves great credit for ending racial apartheid in South Africa, but his legacy includes the continuation of mass poverty

Africa's Odious Debt

November 25, 2012
Léonce Ndikumana: $619 billion of embezzled capital flight from North Africa with connivance of big banks according to new research