Bulgaria is not only the poorest country in the European Union (EU) but also is the most corrupt; greater financial transparency would help address both challenges. Every year the country loses 14 and 22 percent of its...
The Balkans’ $111.6 Billion in Illicit Financial Outflows (2001-2010) Hemorrhages the Region’s Treasuries and Exposes Western Nations to Financial Risks
RIJEKA, Croatia / WASHINGTON, DC – Global Financial Integrity (GFI) and Adriatic Institute for Public Policy (AI) have formed a strategic partnership to launch a new joint study on the Balkans’ illicit financial outflows via crime, corruption and tax evasion for the years 1991 through 2011. The in-depth study led by the joint leadership team consisting of GFI President Raymond Baker, GFI Chief Economist Dev Kar, AI Chairman Natasha Srdoc and senior staff members will provide detailed reports for each of the Balkan nations covering the 21-year time span. The GFI-AI research will focus on illicit financial outflows for the Balkan nations including Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Greece, Kosovo, Macedonia, Montenegro, Romania, Serbia and Slovenia.