Flow of illicit money from Central America expands

813Views 0Comments Posted 14/12/2015

THE GLOBAL Financial Integrity report reports  that between 2004 and 2013 the flows of money from Costa Rica from  laundering and other illicit sources increased by 10% compared to the period 2003-2012, but Panama has dropped in the bad list ranking.

The report entitled "Illicit Financial Flows from Developing Countries: 2004-2013" shows that during the 10 years in question, the flow of illicit money from Costa Rica exceeded $11 billion.  Costa Rica is located at position 15 in the world, surpassed in Latin America in absolute terms only by Mexico ($53 billion) and Brazil ($23 billion). In relation to population or GDP, Costa Rica is a world leader in flows of illicit money.
In Central America, next on the list is Honduras at position 31 ($4.7 billion), then Nicaragua (41, $3 billion), Guatemala (50, $2.2 billion), Panama (52, $2.1 billion) and finally El Salvador (56, $1.7 billion), out of a global ranking of 149 countries. A report in March had Panama sitting in 18th place on the list.