Global Financial Integrity

 

Tagged ‘Brazil Conference’

With Election Over, Will Brazil Turn to Curbing Its Illicit Flows Problem?

A Recent GFI Study & Conference Focused on Brazil’s Illicit Financial Flows, which Cost the Latin American Country US$401.6 Billion from 1960-2012

A pair of articles by The Economist last week highlight the economic challenges that Brazil’s recently re-elected president, Dilma Rouseff, will face in her second term leading Latin America’s largest economy. The federal budget shortfall has grown to 4.9% of GDP. Tax increases could further undermine growth, and cuts to benefits programs for Brazilians might also decrease spending and slow the economy, in addition to weakening progress on addressing the country’s economic inequality and poverty rates.

Many Brazilians already complain about the high tax rates and poor public services. According to a Christian Science Monitor article, which cites the Brazilian Institute of Tax Planning:

“the average person works 150 days a year to pay taxes, compared with 102 days in the [United States]. Among the 30 countries with the highest tax burdens, Brazil ranks last in terms of the quality of services citizens receive in exchange for high taxes.”

Businesses and individuals in Brazil are also dealing with high inflation, slow growth, a weakening currency, and a growing current-account gap.

Read More SHARE

Join Us for Our Upcoming Conference on Illicit Financial Flows in Brazil

GFI and MINDS will hold a joint conference on Illicit Financial Flows in Brazil's Rio de Janeiro.

Joint GFI/MINDS Event, Taking Place September 9th in Rio de Janiero, Will Launch New, In-Depth Research on Brazil’s Illicit Financial Flows

We are pleased to announce the dates of our much anticipated conference in BrazilIllicit Financial Flows in Brazil: A Hidden Resource for Improving Prosperity and Economic Stability.

Join us on September 9th for a joint conference in Rio de Janeiro hosted by GFI and the Multidisciplinary Institute for Development and Strategies (MINDS).

The conference will focus on illicit financial flows in Brazil. According to our previous research, Brazil has a significant problem with illicit outflows, which totaled roughly US$193 billion from 2002 through 2011, making it the 7th largest exporter of illicit capital globally.

Read More SHARE