Financial Transparency Coalition

WASHINGTON, DC – Egypt is losing more than US$6 billion per year—US$57.2 billion in total from 2000 to 2008— to illicit financial activities and official government corruption, writes Global Financial Integrity (GFI) economist, Karly Curcio, in a new weblog published today at www.financial taskforce.org. The piece "Egypt too? There Goes the Neighborhood" uses numbers from GFI’s recently released report, "Illicit Financial Flows from Developing Countries: 2000-2009." The report, authored by GFI Lead Economist Dev Kar and Ms. Curcio, lists illicit capital flight numbers for all developing countries from 2000-2008, including Egypt.

Egypt Losses $6 Billion Per Year in Illicit Outflows; Illicit Outflows from MENA Growing Faster than Any Other Region Reverberations from the violent protests in Tunisia are knocking on Egypt’s door. On Wednesday, the Egyptian authorities threatened “immediate” arrest for any public gatherings or protests in response to a massive march in opposition to the current leadership, President Hosni Mubarak. “No provocative movements or protest gatherings or organizing marches or demonstrations will be allowed,” the Interior Ministry said in a statement. According to the New York Times, on Wednesday some protesters persevered as they chanted slogans at hundreds of...

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.

Forthcoming Report Finds North African Nation Loses $US1.16 Billion Annually in Illicit Financial Outflows

President Zine el-Abdine Ben Ali of Tunisia fled his country on Friday, and Prime Minister Mohammed Ghannouchi has announced that he is now in charge. Tunisia is a country known for its oppressive government rule and, according to a BBC analysis, “human rights groups say the authorities tolerate no dissent, harassing government critics and rights activists.” Unrest among Tunisians has lead to deadly riots this month over unemployment and poor governance. According to the Associated Press at least 23 Continue Reading