African Nation Lost US$11.7 Billion in Illegal Capital Flight from 2000 through 2009, Writes GFI Economist
WASHINGTON, DC – Corruption, kickbacks and bribery are on the rise in Ethiopia, according to a forthcoming report from Global Financial Integrity, a Washington-based research and advocacy organization. According to the study, illicit financial flows out of the African nation nearly doubled to US$3.26 Billion in 2009 over the previous year, with corruption, kickbacks and bribery accounting for the vast majority of that increase.
FOR IMMEDIATE RELEASE WASHINGTON, D.C. – Global Financial Integrity (GFI) has published a new study, “Sudan and Trade Integrity,” examining trade-related illicit financial flows in Sudan’s trade, crude oil and gold sectors. The analysis finds considerable gaps in...
Global Financial Integrity (GFI) has produced a comprehensive report, estimating the magnitude of trade misinvoicing since 2012 with a particular focus on the crucially important crude oil and gold sectors, given that these two commodities accounted for...
A new analysis of illicit financial flows (IFFs) due to trade misinvoicing in 148 developing countries demonstrates that trade-related IFFs appear to be both significant and persistent features of developing country trade with advanced economies.
This December 2015 report from Global Financial Integrity, “Illicit Financial Flows from Developing Countries: 2004-2013,” finds that developing and emerging economies lost US$7.8 trillion in illicit financial flows from 2004 through 2013, with illicit outflows increasing at an average rate of 6.5 percent per year—nearly twice as fast as global GDP.
WASHINGTON, DC – Analysis of illicit financial flows (IFFs) in the poorest nations shows that from 2008 – 2012 IFFs swamped national health spending in many countries. The IFF/Health Spending ratios provided below give an indication of the...
Washington, DC, September 8, 2015 – Analysis of illicit financial flows (IFFs) in the poorest nations shows that from 2008 – 2012 IFFs swamped national education spending in many countries. The IFF/Education Spending ratios (see below) give an indication of the problem some countries will face in achieving Sustainable Development Goals #4. GFI President Raymond Baker said that the UN commitment to “substantially reduce” IFFs in target 16.4 “is a welcome advance in the fight to curtail the damage illicit flows inflict on children around the globe.”
Former President Continued Call on Africa’s and World’s Leaders to Prioritize Financial Transparency
WASHINGTON, DC – Global Financial Integrity (GFI) welcomes the statements made yesterday by former South African President Thabo Mbeki on illicit financial flows at the third Financing for Development Conference. At an event in Addis Ababa, Ethiopia, Mbeki noted that in order to address the issue of illicit flows “there needs to be a concerted and sustained campaign around the world.” “The principle challenge we face” he said, “is one of implementation.” He expressed optimism about the impact the Financing for Development conference will have on illicit flows noting that there is “a common commitment” to address the problem “at a global level and at a national level.”