Global Financial Integrity Director Addresses AFRICOM Staff

U.S. Africa Command (AFRICOM) welcomed Raymond Baker, director of Global Financial Integrity (GFI), as the guest speaker of the AFRICOM Commander&#39;s Speakers Series held September 23, 2010 on Kelley Barracks. <br /> <br />The event invites



By Tywanna Sparks U.S. AFRICOM Public Affairs STUTTGART, Germany Sep 24, 2010
U.S. Africa Command (AFRICOM) welcomed Raymond Baker, director of Global Financial Integrity (GFI), as the guest speaker of the AFRICOM Commander's Speakers Series held September 23, 2010 on Kelley Barracks.

The event invites visitors with diverse viewpoints to share ideas and thoughts relevant to Africa.

Baker, a senior fellow at the Center for International Policy in Washington, D.C., addressed AFRICOM staff on the published GFI report entitled "Illicit Financial Flows from Africa: Hidden Resource for Development."

According to the GFI website, the organization's mission is to promote national and multilateral policies, safeguards, and agreements aimed at curtailing the cross-border flow of illegal money.

The study examines a 39-year period, from 1970 through 2008. Utilizing accepted economic models, the study estimates illicit outflows from Africa estimated at $854 billion across the period examined.

Baker defined illicit money as capital that is illegally earned, transferred, or utilized. "If it breaks laws anywhere along the way it merits the label."

"The outflow in particular is a loss to the country; our estimate is that 70 to 90 percent of the amount of money that illicitly flows out of developing countries never turns around and goes back in," he said. "It is a permanent outflow from developing countries."

Baker stated the basic motivation driving this phenomenon is the shift of money from the poor to the rich and he gave steps to curtail the flow of this money.

Those steps include: establishment of financial intelligence units throughout Africa; creation politically exposed persons lists used in African financial circles; economic transparency; partnerships directly with African nations to curtail illicit financial flows; and institution of financial transparency.

According to the report, "as long as illicit capital continues to hemorrhage out of poor African countries over the long term at a rapid pace, efforts to reduce poverty and boost economic growth will be thwarted as income distribution becomes ever more skewed leading to economic and political instability."

Baker concluded by stating "the flow of illicit money is a problem that requires both Western interests and African interests to solve."

To read the report, visit www.gfip.org.
More in Media Room
Morocco Purchases AH-64 Apache Helicopters
Morocco marked its initial purchase of AH-64E Apache helicopters in a ceremony at Sale Air Base near Rabat, March 5, 2025.
Read more
Military Flight Supports Partner Training, Projects Global Power
U.S. Africa Command, supported by U.S. Strategic Command, conducted a unique training opportunity with Libyan military tactical air controllers to promote the process of reunification of Libyan military and security institutions Feb. 26 in the vicinity of Sirte, Libya.
Read more
Federal Government of Somalia engages al Shabaab with support from U.S. Forces
At the request of the Federal Government of Somalia, U.S. Africa Command conducted collective self-defense airstrikes against al Shabaab on March 1, 2025.
Read more
More in Media Room
Morocco Purchases AH-64 Apache Helicopters
Morocco marked its initial purchase of AH-64E Apache helicopters in a ceremony at Sale Air Base near Rabat, March 5, 2025.
Read more
Military Flight Supports Partner Training, Projects Global Power
U.S. Africa Command, supported by U.S. Strategic Command, conducted a unique training opportunity with Libyan military tactical air controllers to promote the process of reunification of Libyan military and security institutions Feb. 26 in the vicinity of Sirte, Libya.
Read more
Federal Government of Somalia engages al Shabaab with support from U.S. Forces
At the request of the Federal Government of Somalia, U.S. Africa Command conducted collective self-defense airstrikes against al Shabaab on March 1, 2025.
Read more
More in Media Room
Morocco Purchases AH-64 Apache Helicopters
Morocco marked its initial purchase of AH-64E Apache helicopters in a ceremony at Sale Air Base near Rabat, March 5, 2025.
Read more
Military Flight Supports Partner Training, Projects Global Power
U.S. Africa Command, supported by U.S. Strategic Command, conducted a unique training opportunity with Libyan military tactical air controllers to promote the process of reunification of Libyan military and security institutions Feb. 26 in the vicinity of Sirte, Libya.
Read more
Federal Government of Somalia engages al Shabaab with support from U.S. Forces
At the request of the Federal Government of Somalia, U.S. Africa Command conducted collective self-defense airstrikes against al Shabaab on March 1, 2025.
Read more