Flow of Illicit Money in Central America IncreasesTuesday, March 31, 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 Illicit Money in Central AmericaFriday, May 12, 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. The Relevant Role of Money LaunderingWednesday, May 29, 2013 The movement of illicit capital in Costa Rica and Panama counts for more than 10% of their respective GDP, meaning that its removal would be a major blow to their economies. Editorial CA: $14,000 Million in Illegal Flows of Money per YearMonday, February 14, 2011 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. The report issued by Global Financial Integrity analyzes the flows of money generated by criminal activities and corruption between 2000 and 2009. Money Laundering in Costa Rica is 22% of GDPThursday, December 12, 2013 In Honduras the same ratio is 20%, in Panama 12%, 15% in Nicaragua, and in El Salvador and Guatemala 4%. EDITORIAL: Inflation Threat to PanamaTuesday, January 31, 2012 Acting like an invisible barrier, inflation prevents benefits of the growth revealed by macroeconomic indicators from reaching the general population. Panama's economy has been growing at an average of 8.9% since 2006, reaching a spectacular 10.5% in 2011. Beyond the pros and cons that the near future affords, this growth may be a little slower, but would only stop with great difficulty. Guatemala: Unification of Investment PromotionTuesday, September 27, 2016 Before the end of the year a government agreement could be ready which would unify the various departments for promoting investment as well as the creation of the Guatemala Trade and Investment entity. Prensalibre.com reports that "...Rubén Morales, economy minister, said the goal is to manage this body through an executive committee made up of representatives from the public and private sectors, and which would be chaired by the Minister of Economy." S & P Downgrades El Salvador's DebtFriday, October 14, 2016 The ratings agency has reduced the rating for long-term sovereign debt from B + to B, arguing that political capacity to resolve the fiscal problem is shrinking. From a press release by Standard & Poor´s: Costa Rica Long-Term Ratings Lowered To 'BB-'Friday, February 26, 2016 Noting the political system's inability to agree on fiscal issues, Standard & Poor's has downgraded, from BB to BB-, the rating for the country's long-term debt, giving it a negative outlook. Costa Rica Long-Term Ratings Lowered To 'BB-' On Continued Fiscal Deterioration; Outlook Is Negative |
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