CA: $14,000 Million in Illegal Flows of Money per Year

In relation to GDP, Central American countries are those where more money is moved illegally in Latin America, with Panama and Costa Rica leading the way.

Monday, February 14, 2011

The report issued by Global Financial Integrity analyzes the flows of money generated by criminal activities and corruption between 2000 and 2009.

The table of absolute flow amounts of illegal money for the Central American countries, shows that Costa Rica moves $ 4,359 million (5 in Latin America), Panama $ 3,940 million, Honduras $ 2.828 million (7), Guatemala $ 1,354 million (13), El Salvador $ 1,027 million (14), and Nicaragua $ 774 million (16).

In relative terms, the list points to Panama and Costa Rica as first and second in this negative ranking, as having the highest percentage of illegal flows of money over the GDP of their economies:

Panama 9.0%
Costa Rica 8.5%
Honduras 8.4%
Venezuela 5.0%
Nicaragua 4.5%
Chile 3.0%
Mexico 3.0%
El Salvador 2.4%
Guatemala 1.9%
Dom Republic 1.8%
Uruguay 1.7%
Argentina 1.6%
Paraguay 1.5%
Ecuador 1.4%
Bolivia 1.2%
Colombia 0.5%
Brazil 0.1%
Peru 0.1%

View Illicit Financial Flows from Developing Countries: 2000-2009

More on this topic

Illicit Money in Central America

May 2017

Costa Rica 's estimated illicit financial flow averages 45% of its total foreign trade, and the incoming amount is 2.5%; For El Salvador these figures are 9% and 7.5%, for Guatemala 9% and 1.5%, for Honduras 31% and 28%, for Nicaragua 13% and 9%, and for Panama 16% and 307%.

A report by Global Financial Integrity (GFI) entitled "Illicit Financial Flows to and from Developing Countries: 2005-2014" concludes that the illicit flow of money to and from developing countries remains at high levels. The purpose of the report is to quantify those illicit financial flows that represent a serious disadvantage to economic development. 

Flows of Illicit Money from Central America Still Growing

December 2015

The Global Financial Integrity report notes 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.

EDITORIAL

The report entitled "Illicit Financial Flows from Developing Countries: 2004-2013" by Global Financial Integrity, shows that during the 10 years in question, the flow of illicit money from Costa Rica exceeded $11 billion. In the report prepared by Global Financial Integrity, 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.

Flow of Illicit Money in Central America Increases

March 2015

The Global Financial Integrity report places Costa Rica and Panama in positions 14 and 18 in the list of countries that moved the largest flows of illegal money in the world between 2003 and 2012.

EDITORIAL

The report entitled "Illicit Financial Flows from Developing Countries: 2003-2012" by Global Financial Integrity, said that between those years, the flow of illicit money in Costa Rica exceeded $94 billion, about $30 billion more than the amount accumulated between 2001 and 2011, according to reports from the same institution in mid-2013.

Money Laundering in Costa Rica is 22% of GDP

December 2013

In Honduras the same ratio is 20%, in Panama 12%, 15% in Nicaragua, and in El Salvador and Guatemala 4%.

EDITORIAL:

At the global level similar percentages are seen in Brunei Darussalam with 21%, Paraguay with 19%, Malaysia 15%, Trinidad and Tobago 14%, Belarus 12%, and Iraq 10%.

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