Seminar: Ulovlige finansielle transaktioner og deres indflydelse på udvikling

TIME: Monday, 1 October, 16.45 – 18.00

VENUE: Danish Institute for International Studies, Main Auditorium, Strandgade 71, ground floor, Christianshavn, 1401 Copenhagen K.

TIME: Monday, 1 October, 16.45 – 18.00

VENUE: Danish Institute for International Studies, Main Auditorium, Strandgade 71, ground floor, Christianshavn, 1401 Copenhagen K.

According to a recent study from Global Financial Integrity, developing countries lost USD 903 billion in illicit outflows in 2009. This is a breathtakingly large sum at a time when developing and developed countries alike are struggling to make ends meet. Trade mispricing was found to account for an average of half of cumulative illicit flows from developing countries over the period 2000-2009.

Illicit transfers of the proceeds of corruption, bribery, theft, kickbacks, and tax evasion, accounted for the other half of illicit outflows over the decade. The implications for economic development policy are massive.

Illicit outflows are approximately 7-10 times the amount of official development assistance (ODA) going into developing countries. This means that for every USD 1 in development assistance which goes into a developing country, a far larger sum is lost through illicit outflows.

What will it take to curtail this development, and is the international community ready to do so?

Speakers:
Christian Friis Bach, Danish Minister for Development Cooperation
Raymond Baker, Director, Global Financial Integrity
Lars Koch, Senior Policy Advisor, IBIS
Nanna Hvidt, Director, DIIS
Jakob Vestergaard, Senior Researcher, DIIS

Programme:

16.45-16.50: Welcome; Nanna Hvidt, Director, DIIS

16.50-17.00: Introduction; Christian Friis Bach, Danish Minister for Development Cooperation

17.00-17.15: Illicit Financial Flows and their Impact on Development; Raymond Baker, Director, Global Financial Integrity

17.15-17.20: Discussant; Lars Koch, Senior Policy Advisor, IBIS

17.20-18.00: Open Discussion

Chair: Jakob Vestergaard, Senior Researcher, DIIS

The seminar will be held in English.

Please note that the doors will be closed at 16.45 after which entry will not be possible.

Participation is free of charge, but registration is required. Read more about the seminar and use the online registration form on the website no later than Friday, 28 September at 12.00 noon.

Please await confirmation by e-mail from DIIS for participation.