Financial Transparency Coalition

Egypt Losses $6 Billion Per Year in Illicit Outflows; Illicit Outflows from MENA Growing Faster than Any Other Region Reverberations from the violent protests in Tunisia are knocking on Egypt’s door. On Wednesday, the Egyptian authorities threatened “immediate” arrest for any public gatherings or protests in response to a massive march in opposition to the current leadership, President Hosni Mubarak. “No provocative movements or protest gatherings or organizing marches or demonstrations will be allowed,” the Interior Ministry said in a statement. According to the New York Times, on Wednesday some protesters persevered as they chanted slogans at hundreds of...

Forthcoming Report Finds North African Nation Loses $US1.16 Billion Annually in Illicit Financial Outflows

President Zine el-Abdine Ben Ali of Tunisia fled his country on Friday, and Prime Minister Mohammed Ghannouchi has announced that he is now in charge. Tunisia is a country known for its oppressive government rule and, according to a BBC analysis, “human rights groups say the authorities tolerate no dissent, harassing government critics and rights activists.” Unrest among Tunisians has lead to deadly riots this month over unemployment and poor governance. According to the Associated Press at least 23 Continue Reading

Forthcoming Global Financial Integrity Report Finds Mexican Economy Lost Over US$460 billion between 2000 and 2008 Mexico is struggling with some serious economic and political threats to stability. Drug cartels, corruption, and lower confidence in Mexican markets are eating away at prospects for economic growth. As Mexico teeters closer to a failed state, threats to U.S. national security rise commensurately. Mexican efforts at improving governance are falling short, and billions of dollars in illegal money are flying out of the country each year. In August of 2010, Mexican authorities fired almost 10 percent of the federal police force trying to...

Whether or not our economy mirrors seismic activity, we still need financial transparency, explains Karly Curcio

Policy makers and economists around the world are being challenged with the question “what needs to be done to ensure the soundness of the global financial system?” Scholars are introducing non-traditional methods for attacking the question. Some economists say that traditional economic theory holds, and that the best approach is to allow for free markets with minimal regulatory distortions. Others argue that we must be open to an alternate paradigm. In a letter to George Soros, financier and founder of the Institute for...