Addressing Illicit Financial Flows and Capital Flight in the MENA
Mar-2015

 The MENA has long suffered from capital flight for a number of reasons – resource-based economies, corruption, weak governance, economic underdevelopment, political instability, and a less developed financial sector. The Middle East and North Africa region accounted for on average 11.2 percent of global illicit capital outflows between 2011-2002.

 

This policy paper by Paul Cochrane addresses how capital flight, licit and illicit, has a deleterious effecton economic development in the MENA region, and has significantly increased over the past decade. The reasons for such a rise in illicit flows, and its impact on economies, needs to be researched and policies put forward at the national, regional and international level to curb this phenomenon.

 

Click here to read the full article in English.

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