Financial Transparency Coalition

Washington, DC -- Developing country treasuries are losing approximately $100 billion dollars every year due to trade mispricing, according to a new report available today from Global Financial Integrity (GFI). “Every year crime, corruption, and tax evasion drain $1 trillion out of developing countries,” said GFI director Raymond Baker. “This report more closely examines one particular form of financial outflow and shows how illicit financial practices—in this case trade mispricing—deprive developing country governments of tax revenue.” Report findings include:

Washington, DC -- Developing country treasuries are losing approximately $100 billion dollars every year due to trade mispricing, according to a new report available today from Global Financial Integrity (GFI).

The New York Times is reporting that the US Treasury has determined that developing countries need a lot more money to cope with global climate change - but the Treasury doesn't know where to find the money. The Treasury department is expected to present their findings in a paper to the G-20 in Pittsburg. From the NYT:

The paper (pdf), to be presented along with two others when G-20 leaders meet in Pittsburgh this month, calls for public financial flows "to be increased significantly beyond existing levels, starting in the near...