Washington based think tank Global Financial Integrity has launched its latest edition of “Illicit Financial Flows from the Developing World: 2003-2012.” The study finds that developing and emerging economies lost US$6.6 trillion in illicit financial flows from 2003 through 2012, with illicit outflows increasing at an staggering average rate of 9.4 percent per year—roughly twice as fast as global GDP. This study is GFI’s 2014 annual global update on illicit financial flows from developing economies, and it is the fifth annual update of GFI’s 2008 report, “Illicit Financial Flows from Developing Countries 2002-2006.” This is the first report to include estimates of illicit financial flows from developing countries in 2012—which the study pegs at US$991.2 billion.
Posted on: Tue, 16 Dec 2014 09:17:06 +0000
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