{"id":93633,"date":"2015-12-11T14:03:33","date_gmt":"2015-12-11T14:03:33","guid":{"rendered":"https:\/\/armbanks.am\/2015\/12\/11\/243978\/"},"modified":"2024-12-15T13:21:30","modified_gmt":"2024-12-15T13:21:30","slug":"annual-illicit-financial-flows-from-armenia-amount-to-983-million","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/12\/11\/93633\/","title":{"rendered":"Annual illicit financial flows from Armenia amount to $983 million"},"content":{"rendered":"<p><strong>YEREVAN, December 11. \/ARKA\/.<\/strong> Armenia is 70th among 149 countries in Global Financial Integrity Organization\u2019s \u2018Illicit Financial Flows from Developing Countries: 2004-2013\u2019 reports.<\/p>\n<p>About $983 million is taken out of Armenia illegally.<\/p>\n<p>According to the GFI organization, about $9.8 billion has been taken out of the country over one decade (Armenia\u2019s GDP was $10.4 billion in 2014).<\/p>\n<p>The illicit financial outflow has sharply intensified in Armenia in 2008, ahead of the recession. &#8211; $1.15 billion went out of the country (43.3% growth), but in 2009 it dwindled by 19.8%.<\/p>\n<p>In 2010, illegal financial outflow started growing again and reached $1.8 billion in 2013.<\/p>\n<p>As a whole, developing countries lose about $1 trillion every year because of shady financial outflow.<\/p>\n<p>Over one decade under review, $7.8 trillion has slipped from these countries. The amount of illicit financial flows is growing every year by 6.5% &#8211; two times faster than these countries\u2019 GDP.<\/p>\n<p>About 80% of capital, i.e. more than $800 billion goes out of every year trough false declarations of cost of goods at customs.<\/p>\n<p>China and Russia are topping the GFI ranking, since annual illicit financial flow from China averages $139.2 billion and that from Russia $104.9 billon with the $1 049.7 billion taken away illegally over ten years.<\/p>\n<p>Along with China and Russia, Mexico, India and Malaysia are in top five with their $52.8 billion, $51 billion and $41.8 billion respectively.<\/p>\n<p>Global Financial Integrity Global (GFI) is a non-profit, research and advocacy organization located in Washington, D.C..<\/p>\n<p>GFI advocates and conducts research on national and multilateral policies, safeguards, and agreements aimed at curtailing illicit financial flows and enhancing global development and security. &#8211;0&#8212;&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia is 70th among 149 countries in Global Financial Integrity Organization\u2019s \u2018Illicit Financial Flows from Developing Countries: 2004-2013\u2019 reports<\/p>\n","protected":false},"author":1,"featured_media":169836,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12975,14081],"class_list":{"0":"post-93633","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-armenia-2","10":"tag-crime","11":"tag-financial-flows"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/93633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=93633"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/93633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/169836"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=93633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=93633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=93633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}