Inefficient emerging economies, US$6.6tril illicit outflows

THE estimate of US$6.6 trillion of illicit outflows from 2003 to 2012 from emerging countries points to major inefficiencies in these economies.

Of that, about US$3 trillion was diverted from the BRICS group - Brazil, Russia, India, China and South Africa, said Reuters, quoting the Washington-based think tank Global Financial Integrity (GFI).