New Blog Post Reveals Mexican Economy Lost US$462 billion between 2000 and 2008
WASHINGTON, DC – As drug violence in Mexico spirals out of control, a new blog post published today on the website of the Task Force on Financial Integrity & Economic Development reveals that the Mexican economy is losing over US$50 billion per year in illicit financial outflows. Citing data from GFI’s forthcoming report, Illicit Financial Flows from Developing Countries: 2000-2009, Global Financial Integrity Economist Karly Curcio states that, between 2000 and 2008, total illicit financial outflows from Mexico totaled US$462 billion.
WASHINGTON, DC — Global Financial Integrity (GFI) marks the passing of George Vojta, a distinguished and luminary figure in the financial world. GFI director, Raymond Baker, issued the following statement following the news of Mr. Vojta’s passing:
Accepted Award at Gala Dinner in Washington, DC
WASHINGTON, DC — Friday evening, Global Financial Integrity (GFI) presented its 2010 award for Exemplary Leadership to European Parliament Member Eva Joly in honor of her tireless work against corruption and fraud. Ms. Joly accepted the award at a gala dinner held in her honor at a private club Friday evening, December 10, 2010 in Washington, DC.
This year’s International Anti-Corruption Day is marred by a U.S. Chamber of Commerce attempt to weaken the Foreign Corrupt Practices Act (FCPA), our nation’s flagship anti-corruption legislation. Passed in 1977, the FCPA was a response to eroded public trust in government following the Watergate scandal and the admission by Lockheed and some 400 other American companies that bribery to foreign officials was a commonplace practice in international commerce.
The U.S. FCPA stood virtually alone on the global stage in the fight against corruption until the late 1990s, when other nations began adopting similar prohibitions. Today, the FCPA is buttressed by the UN Convention Against Corruption, a similar document binding members of the Organization for Economic Cooperation and Development, regional commitments, and a significant focus on the issue by the G20.
Global Financial Integrity Director Raymond Baker Warns of Danger to the World’s Flagship Anti-Corruption Legislation
WASHINGTON, DC – To mark this year’s International Anti-Corruption Day, Global Financial Integrity (GFI) director Raymond Baker has written a piece warning against challenges posed to the United State’s key anti-corruption legislation, the Foreign Corrupt Practices Act (FCPA).
Global Financial Integrity
New U.S. and UK Laws, Multi-Lateral Actions Represent Significant Gains, but Challenges Still Exist
WASHINGTON, DC – In October 2003 the United Nations General Assembly adopted the UN Convention Against Corruption (UNCAC) and designated December 9th as International Anti-Corruption Day. Global Financial Integrity looks back on the past year to see how anti-corruption efforts fared.
Global Financial Integrity
Will Accept Award at Gala Dinner in Washington, DC
WASHINGTON, DC — Global Financial Integrity (GFI) is pleased to announce European Parliament Member Eva Joly as the recipient of its 2010 award for Exemplary Leadership in honor of the great work she has done against corruption and fraud. Ms. Joly will accept the award at a gala dinner to be held at a private club on Friday, December 10, 2010 in Washington, DC.
Writing about India’s booming economic performance and growth potential has become its own cottage industry over the last several years. Indeed, a report out this week predicts that India will become the world’s fastest growing economy by 2012 and, by 2030, will likely be the globe’s third largest economy behind China and the United States. From its educated work force to its embrace of technology and the likelihood it will be among the leaders in developing “green” businesses, it appears that India – other than the Commonwealth Games – can do no wrong. But the rosy picture has a dark underside that must be addressed if India’s stagnant income inequality levels are to be overcome.
