of the developing countries
News is rife that according to the U.S based financial watchdog Global Financial Integrity(GFI), Malaysia is among the top of developing countries in terms of illicit fund outflows. In fact, ranked fifth, chalking up a total of some RM888 billion between 2000 to 2008!
Close to a trillion Ringgit is a huge sum of money however you look at it.
According to GFI, illicit financial outflows is defined as generally involving transfers of money earned through illegal activities such as corruption, transactions involving contraband goods, criminal activities and efforts to shelter wealth from a country's authorities.
What is even more worrying here is that allegedly enterprises such as national oil company may be driving the illicit flows.
Both Anwar and Lim Guan Eng have called for the allegations to be investigated as well they might, and concerned Malaysians too.
The Prime Minister, however, have been reported to only say that Bank Negara will come up with a statement.
For the sake of the country and concerned Malaysians, I just hope that we will not use the same old inane response we used to adopt in the past especially during Mahathir's time, that, compared to others we are still better off.
Yes, we are No 5 and China it seems is No1 in terms of illicit funds outflow.
But China is a huge country and the second largest economy in the world. You cannot just simply compare China with Malaysia. And what is there to compare? We are talking here of something negative!
According to Lim Guan Eng, if the RM888 billion were given to the rakyat, each child, man and woman would receive RM33,000.00!
I reckon that if that sum of money were invested wisely over the years for the rakyat, Malaysia might even be the No 1 country or at the top of, to have the most number of millionaire households in the world!
That would have been an achievement to be proud of surely.