The Task Force on Financial Integrity and Economic Development, in partnership with the Centre for Budget and Governance Accountability, hosted its first Asia regional conference, Financial Transparency: Challenges and Opportunities for Developing Countries, at the India Habitat Centre in New Delhi on April 3, 2013
According to the latest report by Task Force member Global Financial Integrity, the Asia region lost an average of US$344.4 billion per annum in illicit financial flows from 2001-2010. It accounted for 60.91 percent of the total illicit financial flows from the developing world, with China, Malaysia, the Philippines, and India among the top 10 countries with the highest measured average annual illicit financial outflows over that decade. Conference panelists will address the issue of illicit financial flows in the Asian context and discuss possible solutions. (more…)
The 2011 annual conference of the Task Force on Financial Integrity and Economic Development took place at the Cercle National des Armées in Paris, France from October 6-7.
Illicit financial outflows from developing countries—which total around $1.3 trillion per year—undermine the tax base in poorer countries, eroding the accountability that is essential for good governance and global stability. The same opacity that facilitates these flows is also partly responsible for the budget crises that are plaguing governments in developed countries, which the G20 has been trying to address. The key to curtailing these illicit flows is transparency. (more…)
The 2010 annual conference of the Task Force on Financial Integrity and Economic Development took place at the Radisson Blu Hotel Norge in Bergen, Norway, September 28-29, 2010.
Considering the current financial crisis evidences the same lack of transparency in the global financial system that has affected developing countries for decades, the conference explored concrete, practical means for enhancing transparency to the benefit of rich and poor nations alike. (more…)
The first conference of the FTC, then known as the Task Force on Financial Integrity and Economic Development, was held on September 16-17, 2009 in Washington, D.C. The event brought together leaders from the worlds of illicit finance and development to seek out solutions to the nearly $1 trillion leaving developing countries illicitly each year.