By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – A survey released Tuesday by Global Financial Integrity (GFI) reveals that Brazil is the seventh biggest exporters of illicit financial flows in the world, averaging US$21.71 billion of illicit flows per year for the past ten years. Although one of the top ten, Brazil was nonetheless considered better than its BRIC partners – China (1st), Russia (2nd) and India (4th).
“As this report demonstrates, illicit financial flows are the most damaging economic problem plaguing the world’s developing and emerging economies,” said GFI President Raymond Baker. “These outflows are . . .