{"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":"

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

About $983 million is taken out of Armenia illegally.<\/p>\n

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

The illicit financial outflow has sharply intensified in Armenia in 2008, ahead of the recession. – $1.15 billion went out of the country (43.3% growth), but in 2009 it dwindled by 19.8%.<\/p>\n

In 2010, illegal financial outflow started growing again and reached $1.8 billion in 2013.<\/p>\n

As a whole, developing countries lose about $1 trillion every year because of shady financial outflow.<\/p>\n

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% – two times faster than these countries\u2019 GDP.<\/p>\n

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

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

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

Global Financial Integrity Global (GFI) is a non-profit, research and advocacy organization located in Washington, D.C..<\/p>\n

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. –0—–<\/p>\n","protected":false},"excerpt":{"rendered":"

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":["post-93633","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-en","category-news","tag-armenia-2","tag-crime","tag-financial-flows"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t