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$2 lost for every $1 gained: New report shows global financial system fails developing countries

*A Toolkit for the Media is available with this press release. Please click here to download.  Developing countries are losing twice as much money as they earn because of issues like tax evasion, profits taken out by foreign investors and interest repayments on debt. A new report – The State of Development Finance for Developing Countries, 2014 – has found that for every dollar developing countries have earned since 2008, they have lost $2.07.  Furthermore they have lost, on average, ...

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$2 lost for every $1 dollar gained: the single fact that shows how the global financial system fails developing countries.

Jesse Griffiths

18 Dec 2014 09:52:26

By Jesse Griffiths, Director of the European Network on Debt and Development (Eurodad) This will make you angry. After six months crunching all the best data from international institutions, here’s what we found: for every dollar developing countries have earned since 2008, they have lost $2.07.  In fact, lost resources have averaged over 10% of their Gross Domestic Product (GDP).   We’re not talking about all flows of money out of developing countries, just the lost resources: money that should have been invested to support their development, but instead was drained out. Twice as much is leaking – or rather flooding – out than the combined inflows of aid, investment, charitable donations and migrant remittances.  The graphic above shows the proportionate losses of resources ...

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Development finance – where does it come from?

Jesse Griffiths

13 Dec 2012 10:06:40

Our review of all different sources of development finance is nearly complete – look out for that in the new year – but I thought I’d whet your appetite with a summary table.  Using the most reliable sources we can find, here’s a summary of different inflows, outflows and domestic resources for developing countries as a group, given as an equivalent percentage of GDP to allow scale comparisons.  I’ve also include figures for low-income countries (LICs) as a group, when they are available. Detailed questions will all be answered when the paper is published – watch this space early in the new year! *Figure for upper-middle income countries only: combined figure for all developing countries not available. Some things to note: There is a lot of overlap between many of ...