Misinvoicing Costs Africa Billions
- USA Global Financial Integrity
- 3p.
The article looks at trade misinvoicing dynamics where importers often overprice incoming goods for the purpose of shifting money abroad. It happens when exporters often underprice outgoing goods for the same reason. The author reveals that the process contributes to about $50bn-$80bn a year moving out of Africa, mostly from resource exporting countries.
