Financial Transparency Coalition

WASHINGTON, DC – A new report from Global Financial Integrity (GF), “Illicit Financial Flows from Developing Countries: 2000-2009,” includes data on Tunisia, which GFI estimates is losing more than a billion U.S. dollars per year to illicit financial activities and official government corruption.

WASHINGTON, DC—As drug violence in Mexico spirals out of control, a new blog post published today on the website of the Task Force on Financial Integrity & Economic Development reveals the Mexican economy is losing over US$50 billion per year in illicit financial outflows. Citing data from GFI’s forthcoming report, Illicit Financial Flows from Developing Countries: 2000-2009, Global Financial Integrity Economist Karly Curcio states that, between 2000 and 2008, total illicit financial outflows from Mexico totaled US$462 billion.

Forthcoming Global Financial Integrity Report Finds Mexican Economy Lost Over US$460 billion between 2000 and 2008 Mexico is struggling with some serious economic and political threats to stability. Drug cartels, corruption, and lower confidence in Mexican markets are eating away at prospects for economic growth. As Mexico teeters closer to a failed state, threats to U.S. national security rise commensurately. Mexican efforts at improving governance are falling short, and billions of dollars in illegal money are flying out of the country each year. In August of 2010, Mexican authorities fired almost 10 percent of the federal police force trying to...

Many people wouldn’t guess it, but corruption is a big challenge for India. The problem isn’t new, but it has recently come under intense international focus. The fuss was sparked by this year’s Commonwealth Games, which are held between former British colonies, and were hosted in Dehli. Ironically, officials had hoped the games would showcase India’s increasing economic and political clout, but instead they were marred by deplorable living conditions for athletes and massive delays in building construction. It was soon revealed the blame for these circumstances could be traced to corruption. The chief of the...