World Leaders Urged to Target Illicit Flows, Trade Misinvoicing at Addis Summit
The outlook was promising. In the outrage over the unfolding FIFA corruption scandal, UK Prime Minister David Cameron vowed Saturday to put corruption on the agenda of this week’s G7 Summit in Germany.
G7 Communiqué Ignores Illicit Flows in the Context of the Post-2015 Development Agenda
World Leaders Urged to Target Illicit Flows, Trade Misinvoicing at FfD Conference
WASHINGTON, DC – Global Financial Integrity (GFI) expressed disappointment in world leaders Monday for failing to advance efforts to curtail illicit financial flows—particularly in the context of the Post-2015 Development Agenda. The G7 failure comes despite a new GFI study released on Wednesday showing the outsized-impact that illicit financial flows (IFFs) have on the poorest countries in the world, and notwithstanding a Friday pledge by UK Prime Minister David Cameron to put corruption on the agenda of the G7 Summit, which concluded today in Germany.
Illicit Financial Flows Have “Outsized Impact on Poorest Countries”
FfD Negotiators Urged to Target Illicit Financial Flows and Trade Misinvoicing
WASHINGTON, DC – Illicit financial flows (IFFs), stemming from crime, corruption, and tax evasion, have an outsized impact on the world’s poorest countries, according to a new study released today by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. Titled “Illicit Financial Flows and Development Indices: 2008–2012,” the report also finds strong correlations between higher illicit outflows and higher levels of poverty and economic inequality.
In a joint letter, GFI President Raymond Baker joined 49 other distinguished individuals in calling on the Angolan government to drop charges against journalist Rafael Marques de Morais. The full letter can be read below or downloaded as a PDF here.
GFI would like to thank Human Rights Watch for organizing the letter.
GFI’s Heather Lowe appeared on a panel at the Newseum on May 26, 2015, discussing the impact of the LuxLeaks and SwissLeaks investigations by the International Consortium of Investigative Journalists (ICIJ). The panel was sponsored by the Washington Foreign Law Society.
Thomas Pogge
Global Financial Integrity
In May 2015, Professor Thomas Pogge delivered the keynote address at a conference, titled “Financial Transparency and Human Rights in Africa: Fostering Greater National and Regional Economic Opportunity in Africa through Human Rights and Financial Transparency,” co-hosted by Global Financial Integrity, the Friedrich-Ebert-Stiftung (FES), and the International Bar Association’s Human Rights Institute (IBAHRI) in Johannesburg, South Africa.
A member of GFI’s Board of Directors, Dr. Pogge is the Director of the Global Justice Program and the Leitner Professor of Philosophy and International Affairs at Yale University.
Illicit Financial Flows “Greatly Aggravate Poverty and Oppression in Many Developing Countries”
GFI Estimates Illicit Outflows Drain 5.5% of GDP from Sub-Saharan Africa Annually
JOHANNESBURG, South Africa – International and African experts on human rights and illicit financial flows are convening in Johannesburg, South Africa this week for a multi-day conference on the linkages between financial transparency and human rights in Africa.
Hosted by Global Financial Integrity (GFI)—in partnership with the Friedrich-Ebert-Stiftung (FES) and the International Bar Association’s Human Rights Institute (IBAHRI)—the event builds upon the New Haven Declaration on Human Rights and Financial Integrity (New Haven Declaration), which recognized that “human rights and international financial integrity are intimately linked.”