{"id":160560,"date":"2016-04-10T15:39:05","date_gmt":"2016-04-10T10:09:05","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=160560"},"modified":"2016-04-10T15:45:41","modified_gmt":"2016-04-10T10:15:41","slug":"over-us-19000-million-pilfered-out-of-sri-lanka-in-10-years","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/over-us-19000-million-pilfered-out-of-sri-lanka-in-10-years\/","title":{"rendered":"Over US $ 19,000 Million Pilfered Out Of Sri Lanka In 10 Years"},"content":{"rendered":"<p>A total of US $ 19,967 million has been pilfered out of Sri Lanka from 2004 to 2013.<\/p>\n<p>According to the Global Financial Integrity\u2019s \u2018Illicit Financial Flows from Developing Countries: 2004-2013\u2019 report, in 2011 alone US $ 4,602\u00a0million was moved out of Sri Lanka by various tax evaders including businessmen, and politicians.<\/p>\n<p><a href=\"https:\/\/www.colombotelegraph.com\/index.php\/can-mahinda-rajapaksa-become-the-prime-minister\/mahinda-31\/\" rel=\"attachment wp-att-148138\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-148138\" src=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2015\/07\/Mahinda2.jpg\" alt=\"Mahinda\" width=\"320\" height=\"200\" srcset=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2015\/07\/Mahinda2.jpg 639w, https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2015\/07\/Mahinda2-300x188.jpg 300w\" sizes=\"auto, (max-width: 320px) 100vw, 320px\" \/><\/a>According to the report, in 2004, US $ 1,487\u00a0million was moved out of Sri Lanka, while in 2005 the total amount pilfered was US $ 1,389\u00a0million and in 2006 it was US $ 1,554\u00a0million and US $ 1,890\u00a0million in 2007. The Global Financial Integrity, which is a non-profit, research, advisory, and advocacy organization located in Washington, D.C also disclosed that in 2008 the total amount pilfered out of Sri Lanka was US $ 1,655\u00a0million, while in 2009 it was US $ 1,435\u00a0million and in 2010 it stood at US $ 2,634\u00a0million , followed by US $ 4,602\u00a0million in 2011, US $ 1,567\u00a0million in 2012 and US $ 1,753\u00a0million in 2013.<\/p>\n<p>Incidentally, the greater part of this period fell under former President <a href=\"https:\/\/www.colombotelegraph.com\/?s=Mahinda+Rajapaksa&amp;x=12&amp;y=5\"><span style=\"text-decoration: underline;\">Mahinda Rajapaksa<\/span><\/a>\u2019s rule.<\/p>\n<p>The report also revealed that during the ten year period, the developing world as a whole lost US $ 7.8 trillion due to the money being pilfered out of their respective countries, of which Asia lost the highest at over US $ 3 trillion.<\/p>\n<p>In the executive summary, the Global Financial Integrity said \u201cThe massive outflows of illicit capital shown in this study are likely to adversely impact domestic resource mobilization and hamper sustainable economic growth. As such, it is necessary to consider the role of illicit outflows in any discussion of the development equation. We should not only look at the volume of resources flowing into developing countries but also the illicit leakages of capital from the balance of payments and trade misinvoicing. Governments and international organizations must strengthen policy and increase cooperation to combat this scourge.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":150823,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2186,1,2375],"tags":[],"class_list":["post-160560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombotelegraph","category-featured-news","category-news","category-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Over US $ 19,000 Million Pilfered Out Of Sri Lanka In 10 Years - Colombo Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.colombotelegraph.com\/index.php\/over-us-19000-million-pilfered-out-of-sri-lanka-in-10-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over US $ 19,000 Million Pilfered Out Of Sri Lanka In 10 Years - 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