Capital Flight in Sub Sahara Africa: Extent and Mitigation

A narrative of the capital flight situation in South Saharan African considering the definition, volume and methods of flight. It includes specific result and analysis of the volume and pattern of illicit financial flows from Liberia over a 10-year period from 2004 to 2013. The objective is to determine the level of capital flight and recommend policy for mitigation. The research for this book was conducted through desk review of relevant literatures on the topic and direct interviews and meetings with professionals in the areas of economics, banking, financial markets, etc. This book makes a contribution on illicit financial flows from South Sahara Africa. Sub-Saharan Africa as percentage of gross domestic product (GDP) tops the list when IFFs are scaled as a percentage of gross domestic product (GDP), with illicit financial outflows averaging 6.1 percent of the region¿s GDP. We argue that this shocking loss of capital seriously hampers the region efforts at poverty reduction, revenue and foreign exchange generation and economic development thus the need for immediate mitigation policy development and rollout must be considered. As such the book postulates mitigation measures.