December 18 2015
THREE of the world’s top ten most corrupted trade routes involve Pacific Islands countries. In the Pacific, Vanuatu suffers most from what a watchdog group calls “illicit financial flows”, focusing mostly on fake trade invoicing. Or as Global Financial Integrity calls it – “misinvoicing”. GFI estimates one in every three dollars generated by the Vanuatu economy flows back out of the country, at a rate of just over 35 per cent.