Financial Transparency Coalition

Poverty ain’t what it used to be, nor for that matter where it used to be either. As the nature and location of poverty continues to change, the illicit financial flows agenda becomes all the more important for development. Historically, the vast majority of people living on less than a dollar a day (or $1.25, where the World Bank’s line is now drawn) did so in low-income countries (LICs); that is, in countries with per capita gross national incomes less than $1005. So: income-poor people lived in income-poor countries. Simples. And true: twenty years ago, 93% of those in...