The article tackles IFFs in Zimbabwe ,the major players and the major causes.The article is based on a study by Global Financial Integrity (GFI). Zimbabwe is said to have lost approximately $2,6 billion in the nine years to 2012 due to IFFs. Zimbabwe recorded alarming imports over-invoicing and under-invoicing during the period. While the years 2003, 2008, 2011 and 2012 recorded no illicit financial flows, GFI says the year 2004 saw Zimbabwe recording $306 million in illicit financial flows (both inflows and outflows), which increased to $354 million in 2005, and further to $1,7 billion in 2006, before declining to $97 million in 2007.
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