Over 2 billion US$ was eloigned from Moldova through offshore zones, with the profit earned from investments, according to a survey carried out by The Price of Offshore Revisited, released by the non-governmental organization Tax Justice Network.
The overall amount of undeclared assets eloigned from the republic in 2010, could have covered 43% of the country’s foreign debt, estimated as 4.6 billion US$.
Moldova, Armenia and Kyrgyzstan round out the list of CIS countries, in terms of capital outflow in offshore areas. The leading countries in this list are Russia, with a capital drain of 797.9 billion US$, which makes 207% of the country’s foreign debt. Ukraine comes next with an outflow of capital standing at 166.8 billion US$ (144% of its foreign debt), being followed by Kazakhstan, with capital outflows of 136.2 billion US$, or 118% of its foreign debt.
About 47.9 billion US$ was eloigned from Azerbaijan through offshore areas, seven fold more than the country’s debt.
About 1.194,8 billion US$ was eloigned from CIS countries during 16 years, and about 742.3 billion US$ from the European Union states, including 191.1 billion US$ from Romania, which makes 72 % of the country’s debt.
The capital outflows through offshore areas stand at 21 trillion US$ in the world. China (1.2 trillion US$), Russia (797.9 billion US$) and South Korea (779 billion US$) are leaders in terms of illegal capital drain.