September 2019

Hidden Wealth: Corporate Opacity and Public Coffers

The Financial Accountability and Corporate Transparency (FACT) Coalition estimates that emerging market economies lose in toto nearly $1 trillion—or 5% of GDP—every year to illicit financial activity. Some African countries lose over 30% of their tax revenue to tax avoidance schemes. Without measures to support transparency, corruption threatens the ability of emerging market governments to deliver services and repay sovereign debt.