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10 small economies host more than 85% of $15 trillion Phantom FDI: IMF Report

As per an IMF report, 10 small economies including Luxembourg, the Netherlands, Hong Kong SAR, Switzerland, Singapore, and Mauritius host more than 85% of all phantom investments estimated at USD 15 trillion globally. Phantom FDI refers to investments that pass through shell companies that actually have no real-business and are tailor-made to cut tax liabilities. Within a decade, phantom FDI grew from 30% to 40% of global FDI.